Central Banking Journal
Overseeing China’s payments revolution
PBoC has tried to strike balance between bigtech innovation and reining in risks
Book notes: Narrative Economics, by Robert Shiller
The book is good fun to read but some elements are a little disappointing, says Charles Goodhart
Five insights into China’s green finance transformation
State direction offers quick mechanism to embed green finance, writes PBoC’s Ma
Macro-pru is no panacea
Many central banks need better macro-pru frameworks
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent
Modernising currency management
Central banks strive to optimise currency operations, even as relative importance of cash drops
The Deutsche Bundesbank’s digital transformation
Digital agenda includes re-engineering legacy analytics, processes, innovation management and competency
Fintech and risk: what does the future hold?
Five key areas where regulators need to make judgements on fintech risks
Uribe details aggressive Flar expansion plans
Latam fund chief José Darío Uribe on: Flar’s efforts to support regional financial stability; exposure to Venezuela; and more
Agustín Carstens on fixing the global monetary system
The BIS chief speaks on the global safety net, emerging markets’ vulnerabilities and fintech challenges
Central banks face loss of independence – Central Banking survey
Cyber risks and lax supervision are biggest threats to financial stability
Overcoming deflation: Japan’s experience and challenges ahead
Haruhiko Kuroda explains how Japan’s long battle against deflation may offer insights for others
Latin America’s escape from hyperinflation
Adoption of inflation targeting, flexible exchange rates and prudent fiscal policies has ended decades of runaway inflation
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail; and more
Central banking’s 30-year cycle
Central banking has hit another crossroads, writes Central Banking founder Robert Pringle
The IMF should adopt a ‘real SDR’
A vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
IMF’s financial counsellor talks about efforts for the fund to craft well-targeted policy guidance
Book notes: After Piketty, by Heather Boushey, Bradford Delong & Marshall Steinbaum
The book leaves you with a deeper and nuanced understanding of Piketty's work
The future of balance sheet policies
What tactics will central banks deploy?
The great wave: global liquidity in a turbulent world
Global imbalances are growing, and it is unclear whether the world’s institutions have enough firepower to respond to a crisis, writes Daniel Hinge
Book notes: Shadow networks, by Francisco Louçã and Michael Ash
While not all central bankers will read this book, the problems it presents should not be left to politicians to solve
Higher inflation expectations can cut consumption – research
Authors conduct randomised control trial to test “forward guidance puzzle”
Book notes: Humanomics, by Vernon L Smith and Bart J Wilson
While being authored by world-class Adam Smith specialists means this is a must-read, the value-added of the book “remains a bit vague”
Book notes: Why not default?, by Jerome Roos
Thought-provoking book that will repay investment of any reader with an interest in sovereign debt