The Americas
Third of central banks link staff remuneration to strategic plan
Strategic planners are paid $40,000 on average per year
Strategic plans widely integrated into staff annual reviews
Staffing averages just under five persons in strategic planning units
Governing boards approve majority of strategic plans
Departmental heads widely assigned implementation duties
Three in four central banks use dedicated strategic units
Units typically have a direct reporting line to the governor
Events are top channel for strategic plan communication
But over half of plans lack a framework for communication
Digital transformation and payments are major strategic goals
But few respondents prioritise AI or mandate changes
Strategic planning is ad hoc in 10% of central banks
Strategic plan-setting frequency averages 3.8 years across institutions
Most central banks fund strategic plan delivery with standard budgets
Only two-fifths of jurisdictions have dedicated budget for strategic objectives
Current and former Fed officials lambast Trump tariffs
Bloom Raskin says central bank is now “last bulwark” against measures’ inflationary impact
OCC withdraws climate risk principles for largest banks
Acting comptroller calls principles overly burdensome and duplicative
US monetary policy affects income inequality – Fed research
Surprise rate hikes affect lowest paid, authors find
Salary still poses greatest challenge for recruitment
Staff morale constitutes lowest constraint but is a concern for some central banks
Two-thirds of central banks regularly audit policy processes
Internal and external audit functions are combined in most jurisdictions
Larger central banks more likely to have diversity policy
Boards with appointment powers more often focus on diversity
Default levels do not explain high US credit card rates – study
NY Fed paper shows levels of interest charged far exceed those for other loans
Most governing boards operate under charters
Strategy-setting and budget approval are boards’ top responsibilities
One in three central banks operate supervision committee
Government officials’ membership on boards still rare
Governors serving limitless terms tend to earn lower salaries
But governors’ average salary remains over $200,000 a year
Most governors lack legal immunity against prosecution
One-fifth of removable central bank governors shielded from legal actions
FOMC holds rates amid uncertainty and stagflation risks
Fed chair Jay Powell says inertia also a factor as committee opts for caution
US stagflation risk is significant and rising, experts say
Path of tariffs will largely determine level of risk, academics tell Central Banking
Governors serve unlimited terms in half of central banks
While term length averages five years, majority of governors can be dismissed early
NY Fed credit survey shows consumers are strapped
Study finds more people are having applications rejected and expect loans to be harder to secure
Smaller central banks more likely to manage government debts
Consumer protection widely overseen in larger institutions