Feature
Was Draghi one of the great central bankers?
A look back at how Mario Draghi confronted the financial crisis and existential concerns about the euro
Tackling ‘dead-end’ monetary policy
A shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
Big tech: a threat to banks?
The explosive growth of financial services offered by big tech companies in China offers important lessons
Overseeing China’s payments revolution
The PBoC has tried to strike a balance between facilitating bigtech innovation and reining in risks, amid an explosive growth in mobile payments
Five insights into China’s green finance transformation
China’s top-down, state-directed mechanism may be the most effective way to embed green finance in a timely manner, writes the PBoC’s Ma Jun
Macro-pru is no panacea
Many central banks need better macro-prudential policy frameworks and communication at a time of rising political interference
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent. What more can central banks do?
Modernising currency management
Central banks continue to strive to optimise currency operations at a time when the relative importance of cash is falling, but usage continues to grow. William Towning looks back at the last 30 years
The Deutsche Bundesbank’s digital transformation
The German central bank’s new digital agenda includes major re-engineering of legacy analytics, processes, innovation management and digital competency
Fintech and risk: what does the future hold?
Five key areas where regulators need to make judgements on fintech risks
Central banks face loss of independence – Central Banking survey
A new survey of Central Banking’s Editorial Advisory Board points to central banks facing existential challenges with little change in their frameworks or toolkits
Overcoming deflation: Japan’s experience and challenges ahead
Bank of Japan governor Haruhiko Kuroda explains how Japan’s long battle against deflation may offer insights for the future conduct of monetary policy at other central banks
Latin America’s escape from hyperinflation
Adoption of inflation targeting, flexible exchange rates and prudent fiscal policies in Brazil, Chile, Colombia, Mexico and Peru ended decades of runaway inflation
The future of balance sheet policies
Central banks are expected to resort to a range of balance sheet activities to fight the next downturn. William Towning investigates what tactics they may deploy
The great wave: global liquidity in a turbulent world
Global imbalances are growing, and it is unclear whether the world’s institutions have enough firepower to respond to a crisis, writes Daniel Hinge
Do stablecoins like libra differ from other crypto assets?
Sayuri Shirai assesses the implications of stablecoins for stability, monetary policy and regulation
Climate change focus report 2019
Central banks and regulators have recognised the need to take responsibility for risks emerging as a result of climate change, but there remains an abundance of work to be undertaken, and Central Banking hopes this report will provide some guidance on…
Call to arms on climate change
Following Mark Carney’s “breaking the tragedy of the horizon” speech in 2015, it became apparent central banks and regulators needed to sit up and take responsibility for risks emerging as a result of climate change.
Can central bankers turn finance green?
The Network for Greening the Financial System aims to bring about fundamental change. The central bankers who created it made a strong start but face serious challenges.
The calm before the storm – The climate change 2019 survey
As climate-related risks to the financial sector become increasingly understood, central banks are demonstrating their willingness to develop capabilities to analyse the impact and modify their policies. A new survey indicates a watershed for central…
Why two degrees matters to central banks
Ulrich Volz explores why strong leadership is required from central banks and supervisors to ensure the financial sector will be in a position to weather climate risks.
How Singapore manages its reserves
MAS managing director Ravi Menon explains Singapore’s total approach to reserve management, which includes the use of customised fixed income benchmarks and tapping into external investment expertise
Quantitative easing: a never-ending story?
The Federal Reserve is cutting the size of its balance sheet, but is unlikely to reduce it to pre-crisis levels due to fears about financial stability. It also appears to have kept its floor system for the same reason