International
Labour market power can explain ‘wageless recovery’ – IMF paper
Monetary policy can cut unemployment without raising wages where bargaining power is weak
IMF set for governance reform in wake of ‘Doing Business’ controversy
Board to make changes to data integrity, whistleblower protection and dispute resolution
Basel Committee proposes capital add-ons for crypto exposures
Committee tightens proposed rules in several areas following high-profile crypto failures
Top central bankers admit inflation models fell short
Reliance on Phillips curve and demand-driven models may have created blind spots
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing
BIS balance sheet buffeted by market turbulence
Institution still turned a profit in the year to March 2022
IMF paper proposes ‘policy space index’
Authors try to quantify countries’ room to respond to a “black swan” event
Legal certainty: the Achilles’ heel for CBDCs?
Many central banks lack legal certainty when it comes to issuing digital currencies, despite all the research and trials. Isn’t it time to get the lawyers involved?
BIS unveils ‘post-quantum cryptography’ project
Innovation Hub centres will also explore climate disclosures and CBDC security
IMF chief economist says geopolitics is undermining dollar dominance
Sanctions may have triggered a reassessment of dollar assets, says Pierre-Olivier Gourinchas
People: IMF names new Asia-Pacific head
New deputy governors in Jamaica and Azerbaijan, and more
Filipe Dinis on Bank of Canada’s cyber strategy and tackling cyber risks
The Canadian central bank’s chief operating officer calls for heightened vigilance, more collaboration, info sharing and tabletop exercises, and less reliance on similar, siloed systems
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
Understanding informal remittances
Better tracking of remittance flows could give central banks valuable insights to support policy, say Deepali Fernandes, Amil Aneja and Azar Sultanov
People: April to June 2022
A round-up of central bankers in the news and on the move during the past three months
Fintech Benchmarks 2022 – presentation
Central Banking’s fintech subject matter specialist Joasia Popowicz speaks with Chris Jeffery about strategy, staffing, cyber security, CBDCs, regtech and suptech, AI/ML and the cloud
Basel Committee launches principles for climate supervision
Guidance for banks and supervisors designed to create “common baseline” for tackling risks
Officials urge narrow focus as CBDC use cases proliferate
Communication and financial inclusion are critical concerns, Summer Meetings panellists agree
The signal and the noise: cash forecasting in uncertain times
From big data tools to Arima models and structural time series, cash forecasting methods are evolving. The work could prove critical to the future of cash during uncertain times
FSB and IMF wrap up post-crisis data gaps initiative
Some issues remain despite “significant progress” since 2009, report finds
Crypto market faces growing fragmentation – BIS paper
Crypto assets are failing to generate network effects seen in standard payments, authors find
CBDCs could improve energy efficiency of payments – IMF paper
Design choices could allow for greater efficiency than existing credit card infrastructure
IMF blog highlights rise of ‘non-traditional’ reserve currencies
Renminbi only accounts for a quarter of the shift away from dollars