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Tackling ‘dead-end’ monetary policy
Shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
NGFS publishes first green investment handbook for central banks
Handbook examines five strategies for green investment and identifies problems for central banks
ECB monetary policy statements should change – Italian governor
Visco rejects idea of putting names to votes as eurozone governors differ on inflation policy
Quotes
Sometimes, what is forgotten with forward guidance is that we are also speaking to households and businesses, to give them a sense of the general direction, some general orientation: be prepared, but do not overreact.
Mark Carney, governor, Bank of England
Financial intermediaries continue to exercise their privileged position, protected by licences, to determine where money comes from and where it goes to, so as to maximise their already disproportionately large profits and bonuses, paid for eventually by users of financial services
Joseph Yam, former chief executive, Hong Kong Monetary Authority
There’s this fear that domestic currencies are going to be totally undermined, so you might actually want to have some sort of central bank digital currency
Tobias Adrian, financial counsellor, IMF
It is only when you get to a relatively extreme situation, where your entire yield curve is very close to the effective lower bound, that targeting specific long-term yields makes sense
Eric Rosengren, president, Federal Reserve Bank of Boston
It is possible to take out some of the [populist] anger. But you really do have to have a good executive response. We will have to see how that works out.
Raghuram Rajan, former governor, Reserve Bank of India
China may do some things to reduce the trade imbalance with the US. But actually, the bilateral trade balance does not mean very much. We need to discuss the multilateral balance.
Zhou Xiaochuan, former governor, People’s Bank of China
Editor's choice
BSP’s Diokno on forward guidance and cutting reserves
Philippines governor, Benjamin Diokno, speaks about fintech and efforts to wean Asia off the US dollar
Trendlines
Latest issue
Comment
The future of cash: an update
Central bankers without clothes and clout
Regulators should embrace digital ID
Our Take
Seven threats from big tech’s libra
30 years of central banking
An inside story on the central bank gold agreement
Bank of Spain paper looks at supply chains’ impact on investment
De Cos maps out ‘future path’ for Basel Committee
Exchange rate shocks gaining importance for eurozone inflation – research
Large forex dealers are key to asset pricing – Bundesbank paper
Strong dollar can be bad for trade – BIS paper
Central banks should consider wholesale digital currency – BdF deputy