International
Rate rises reveal defi weaknesses – Powell
Regulating algorithms highlighted as key crypto challenge at Banque de France conference
Markets starting to reflect ‘tenacious’ inflation, says BIS
Swings in markets highlight investors’ struggle to understand outlook, quarterly review says
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
IMF paper explores second-round effects of oil shocks
Authors find oil shocks have greater impact where inflation is already high
IMF paper offers ‘fear-based theory’ of economy
Central banks risk distorting the economy if they don’t move interest rates to offset “fear cycle”
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
BAM governor speaks about Covid-19, Fed tightening, BIS membership, regional co-operation and inclusion
Central banks will be ‘tested’ by long-term inflation – BIS’s Borio
Persistent inflationary forces could bring central banks into conflict with government, official says
People: July to September 2022
A round-up of central bankers in the news and on the move during the past three months
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers during the past three months
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions raise questions about the US dollar’s central role
Big tech firms may suffer from ‘too much information’ – BIS paper
Firms that pry too much into customers’ affairs may find themselves with no business, authors say
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation
Swift aims to cut cross-border frictions with predictive tool
Use of anonymised data can help spot errors in cross-border payments, Swift says
Supply-side pressures likely to persist – Carstens
Policy-makers “need to be realistic” about the feasibility of demand management, BIS chief says
How to run a world-class economics department
Central banks have myriad ways of organising their economists
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Ex-NBU governor talks about fund shortfalls, finstab challenges, the CBR and post-conflict rebuilding
Geostrategic risks now a major factor – CNB reserves head
Ondrej Strádal supports using CBR assets for reparations, is reassessing RMB and expects US recession
Taking a cue from the top: governor turnover and independence
Central bank governors tend to have long tenures, but what that means can vary. High turnover remains a worrisome signal
Long-term data can shed light on current inflation – NBER paper
Authors suggest first half of 20th century has clearer parallel to current inflation than 1970s
Central banks should ‘overestimate’ inflation persistence, says economist
Academic argues central banks should act as if exogenous shocks are likely to be persistent
The PBoC, real estate debt and financial stability in China
Officials have restricted policy space due to efforts to contain property risks amid slowing growth
Firms use supply chains to predict inflation – IMF paper
Authors find expectation formation diverges from rational expectations hypothesis
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, former NBU governor Gontareva argues
‘Very little support’ for a US Treasury clearing mandate – Isda
Dealers and clients prefer carrot to stick in efforts to improve Treasury market liquidity