Latest benchmarking
Monetary Policy Benchmarks 2024 report – back to normality?
Inflation is trending down worldwide, supply disruptions have eased, and fears over widespread geopolitical instability have not yet been realised. This stabilisation is reflected in the Monetary Policy Benchmarks 2024. The share of central banks with asset purchase programmes has come down from its pandemic-era peak. Targeted liquidity facilities are also being wound down in many jurisdictions. More broadly, the benchmarks reveal some slow-moving trends in how central banks organise their monetary policy function.
Monetary Policy Benchmarks 2024 – model banks analysis
Further breakdowns of the data reveal patterns in staffing, liquidity tools and transparency
Quarter of central banks use tiered reserves remuneration
Corridor systems remain most common method of setting short-term interest rate
Benchmarking
Minutes released with greatest lag in lower-middle income countries
Blackout period lasts seven days in most central banks
Payments Benchmarks 2024 report – towards tokenisation
Benchmarks highlight optimism on tokenisation, hostility to crypto and efforts to upgrade RTGS
Model banks analysis – Monetary Policy 2024
Further breakdowns of the data reveal patterns in staffing, liquidity tools and transparency
Charts
Cyber still in focus
Cyber security remains the number one concern for risk managers in 2024, unchanged from the 2023 and 2022 benchmarks. Market risk comes a distant second, followed by operational risk.
Environmental risk brings up the rear. Some central banks have established climate risk units, and many have staff working on the issue. But it still clearly remains a secondary concern.
For the full breakdown, use the benchmarking service’s interactive charts to explore the data.
Reports
Monetary Policy Benchmarks 2024 report – back to normality?
Payments Benchmarks 2024 report – towards tokenisation
Communications Benchmarks 2024 report – emerging trends
Governance Benchmarks 2024 report – central banks’ core processes
Fintech Benchmarks 2024 report – the promise and threat of AI
Risk Management Benchmarks 2024 report – tech and turbulence
Economics Benchmarks 2023 report – tentative steps on AI
Currency Benchmarks 2023 report – steady as they go
Reserve Benchmarks 2023 report – rebuilding buffers
Financial Stability Benchmarks 2023 report – how central banks confront risk
Monetary Policy Benchmarks 2023 report – navigating uncertainty
Payments Benchmarks 2023 report – moving money in shifting conditions
Benchmarks
Communications
Currency
Economics
Financial Stability
Fintech
Governance
Monetary Policy
Payments
Reserves
Risk Management
Money-supply targetters account for lowest frequency of policy meetings
Upper-middle income central banks set policy and publish reports at highest frequency
Middle income monetary policy staff salaries fall behind peers
Officials in Europe and Africa tend to earn highest average annual income
One-third of central banks offer liquidity to non-banks
But most keep the list of counterparties strictly limited
Briefing, analysis and research are monetary policy officials’ top duties
Average departmental staff remains below 40 persons