International
Georgieva emerges as sole contender for IMF top job
Bulgarian national set for managing director role as no challenger comes forward
IMF research flags urgent need for climate policy framework
Co-ordination of fiscal, financial and monetary instruments will be needed, say authors
BIS paper tracks new channel for funding ‘dry-ups’
A squeeze in one market can spill over to institutions with no direct exposure, authors find
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?
IMF’s board of governors removes age limit for new managing director
Move could pave the way for the appointment of Europe’s nominee, Kristalina Georgieva
BIS authors offer advice on escaping low inflation trap
Luiz Pereira da Silva and co-authors say “snapback” unlikely, given changing labour markets
The winners of the 2019 Fintech and Regtech Global Awards
Prizes awarded for outstanding work at the cutting edge of financial technology
Trade war may delay renminbi as reserve currency, says reserves manager
Central banks are cautious when building renminbi reserves due to legal and liquidity issues
Central Banking Fintech and Regtech Awards 2019 – as it happened
Live coverage from the Fintech and Regtech Awards ceremony in Singapore
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
Asset bubbles play role in macro-prudential policy – IMF research
Their size may determine optimal tax levels to address credit imbalances
Fintech and risk: what does the future hold?
Five key areas where regulators need to make judgements on fintech risks
A key message from Jackson Hole: policy must globalise
Setting policy in isolation is becoming untenable and spillovers must be considered more, remarks suggest
BIS paper studies spread of global currency trading
Authors examine “patterns of diffusion” to understand rise of the renminbi
Carstens warns of ‘serious consequences’ from retail CBDC
BIS chief envisages system with wholesale digital currency alongside private retail payment systems
Market competition fuels volatility in frail regulatory environments – Bank of Spain research
Increased instability associated with higher default rate triggers a 3.3% loss of output
Economists publish ‘crash course’ on euro crisis
Brunnermeier and Reis say framework is designed to help students grasp the macro-financial roots of recent crises
Carney: digital currency could help fix global monetary system
A “synthetic hegemonic currency” could end the destabilising dominance of the dollar, BoE chief says
Summers and Stansbury warn of ‘black hole’ as central bankers debate solutions
Economists say they hope for revolutionary thinking at Jackson Hole conference – “but we are not holding our breath”
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
AI can help predict consumer defaults – NBER paper
Researchers say “deep learning” could be useful in designing macro-prudential policies
IMF executives vote to clear way for Georgieva
Removing age limit would open path to IMF top job for current World Bank chief executive
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