Central Banking Journal - Volume XXXIV Number 2
Articles in this issue
Policy-making amid war in Gaza
Bank of Israel has implemented a textbook crisis response, but uncertainty remains
People: October to December 2023
A round-up of central bankers in the news and on the move during the past three months
Banknotes: October to December 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
The predicament of bloated central bank balance sheets
Swollen balance sheets carry significant risks for combating inflation, ensuring financial stability and preserving central bank credibility, independence and effectiveness. How can central banks reduce them?
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
Corridor, floor, other: are operating frameworks fit for the future?
Central banks are becoming uncomfortably aware that monetary operations have ramifications well beyond setting short-term rates
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
Rate hikes: too much, too late – and now too dangerous
Why monetary tightening risks a global credit crunch
A league table for central bank hawkishness
Steve Kamin runs the numbers to assess which central banks have raised rates most aggressively
Somalia’s Abdullahi on the challenges of re-integration with the international system
The Central Bank of Somalia governor speaks about capacity building, reintroducing the shilling, securing donor support and climate change
Data sharing as a policy intervention
Increasing access to data represents another policy lever regulators can pull to achieve their objectives, writes David Bholat
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine
Demand for cash under uncertainty: a global update
Antti Heinonen explores data showing surges in cash demand during periods of uncertainty
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Book notes: The Continental dollar, by Farley Grubb
Grubb’s book brings an important new interpretation to this founding moment in US financial history
Book notes: Economists in the cold war, by Alan Bollard
A geographically balanced review of key economists that shaped the world economy
Book notes: We need to talk about inflation, by Stephen King
A short, sensible book that highlights key issues – and might make a good, belated Christmas gift!
