International
IMF team builds new multi-country semi-structural model
G3MOD designed for frequent analysis by central banks of trade and financial links
Assets held by risky non-banks grew to record high in 2023 – FSB
Surging asset prices caused sector to grow more than twice as fast as banks
Economics Benchmarks 2024 report – making models work
The benchmarks this year include more granular details on key model design features
BIS highlights market ‘uneasiness’ over bond issuance
Claudio Borio says fiscal outlook worldwide is “acutely worrying”
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
OECD highlights ‘resilient’ economies beset by risks
Geopolitics, high public debt and possible repricing in private credit markets threaten outlook
Economists least likely to research impact of AI
Inflation dynamics retains position at top of the rankings
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
‘Financial conditions targeting’ could help stabilise output – paper
“Risk-centric” New Keynesian model highlights benefit of acting on financial conditions
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
People: October to December 2024
A round-up of central bankers in the news and on the move
FSB publishes 2024 G-Sib list
One bank moves up while another moves down, as dashboard reveals detailed scores for each lender
Working group minutes: reserve managers chafe at constraints
Officials at several central banks say limited investment universe restricts room for manoeuvre
The GFXC chair on the next steps for the FX global code
Global FX Committee chair Gerardo García speaks with Christopher Jeffery about updating FX best practice, improving buy-side engagement and revising settlement risk estimates in the BIS’s triennial survey
Securing sound deposit protection in East Africa
There is a need to revisit legal frameworks to adopt risk-adjusted premium regimes and establish more comprehensive deposit insurance systems in the East African Community, write Gilbert Nyatanyi and Gloria Tengera
Central banks to maintain independence despite threats – panel
Top central bankers discuss Trump, AI and why they plan to ignore IMF on rate cuts
The past and future of BIS economics
The monetary and economic department has become an influential force in central bank economics. Claudio Borio looks back over 37 years at the institution and Hyun Song Shin looks to the future
Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
A disjointed book where ‘I told you so’ new chapters add little to the excellent original analysis
Pablo Hernández de Cos to be next BIS general manager
Agustín Carstens will leave in 2025 after leading transformation project
The frontiers of AI in central bank communications
Comms experts assess technology's value in video production, message generation and more
Paper offers solution to EME monetary transmission puzzles
Price and exchange rate conundrums are interconnected, authors find
Book notes: The road to freedom: economics and the good society, Joseph E Stiglitz
A stimulating amalgamation of previous ideas presenting the kind of economic system most conducive to decent society
Fed makes post-presidential election rate cut
Chair Powell stresses Trump’s election as president will have no effect on policy in the near term and he has no plans to resign at Trump’s request
IMF paper tracks banks that are ‘keeping coal alive’
Pull-back of many lenders is leaving concentrated exposures and roll-over risk