Risk.net
Latest
Fed’s supervision may have added to repo turmoil, Quarles says
Fed will re-examine effects of supervisory approach, vice-chair tells US lawmakers
Banque de France to launch CBDC experiments in 2020
De Galhau says new directorate will look at using wholesale CBDC in transactions for tokenised assets
Argentine governor resigns before new president takes over
Guido Sandleris calls for economic consensus and central bank independence to tackle high inflation
Quotes
You probably think minutes are a gold mine. Well, they are like a gold mine in that there is a whole bunch of rock and not much gold.
Stephen Poloz, governor, Bank of Canada
“Without an agreed framework, in the next crisis, Hank Paulson’s successor will once again be kneeling in front of Nancy Pelosi – I assume she will still be there – asking Congress to rescind the legislation that has restricted the Fed’s powers.”
Mervyn King, former governor, Bank of England
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
Canada’s Poloz on monetary policy limits, transparency and cyber recovery
Speaks about stagflation risks from trade wars, the value of market signals and Canada’s CBDC plans
Trendlines
Latest issue
Comment
What is behind China’s digital currency aspirations?
Demand for cash remains solid in many parts of the world
The future of cash: an update
Our Take
Seven threats from big tech’s libra
30 years of central banking
An inside story on the central bank gold agreement
Eurozone bond purchases work as stabilisation tool- BoI paper
ECB paper examines low inflation’s impact on Asia
ECB’s QE boosts equity prices beyond fundamentals – DNB research
Global climate cycles create varied growth challenges – paper
Greater exchange rate flexibility warranted in Peru – IMF
MAS urges vigilance amid rising risks