Central Banking Journal
Banknote and currency services provider of the year: Leonhard Kurz Stiftung & Co
The foil provider has developed cutting edge security features for some of the world's largest central banks in a bid to tackle ever more sophisticated counterfeiting
Transparency award: Bank of Israel
Bank of Israel has improved its already strong communications by holding press events after monetary policy announcements, releasing new financial stability reports and introducing forward guidance
Website of the year: European Central Bank
The European Central Bank built one new website and overhauled another in the year under review – adopting the best practices in responsive design and tailoring both for a mobile audience
Challenging crosscurrents from divergent monetary policy
Divergent monetary policies around the world and challenges linked to China’s economic rebalancing present central bankers with some opportunities as well as numerous threats
Christopher Pissarides on QE, the eurozone and economics
The Nobel economist tells Chris Jeffery why events in Europe have undermined neoclassical beliefs, QE is an optimal policy tool and Cyprus should not have joined the euro
The big data revolution and central banking
Central banks are increasingly turning their attention to the challenge of analysing very large datasets. But is ‘big data’ as revolutionary as some claim?
Improving banknote efficiency in India
The RBI manages nearly 80 billion banknotes in circulation – a number set to grow by more than 5% per annum. Vijay Shekhawat explains how the central bank is optimising its banknotes business
Harnessing network theory for more prudent bank supervision
Closer supervisory activities and data-sharing post-crisis offer the potential to harness network techniques to gain an improved understanding of financial risks
Post-conflict central banking
Building the integrity and operational soundness of central banks is a vital priority for post-conflict countries.
The Islamic liquidity facility conundrum
The rapid growth of Islamic finance could undermine both financial stability and monetary policy if central banks do not set up sharia-compliant facilities
Asia’s Basel III woes
New bank capital rules are bridling Association of Southeast Asian Nations banks with regulations tailored to European and American risk profiles, and may be contributing to a slowdown in growth
Cuba: coming in from the cold
The Central Bank of Cuba faces a number of challenges should the country press ahead with economic reform and reintegration in the global financial system
Book notes: Civic Capitalism, by Colin Hay and Anthony Payne
A book that espouses redesigning capitalism into 'civic capitalism'
Book notes: The challenge of economic rebalancing in Europe, perspectives for CESEE countries, edited by Ewald Nowotny et al
A useful book on the failure of the European economy to recover from the 2008 recession, and the slowing down of the convergence of central and eastern European economies with the core of the EU
Book notes: Banking Reform in Nigeria, by Yomi Makanjuola
A gripping read, starting with Sanusi Lamido Sanusi's leadership of the Central Bank of Nigeria in 2009
CNB’s Miroslav Singer on transparency, China and Basel III
The governor of the Czech National Bank speaks to Christopher Jeffery about transparency challenges, lifting exchange controls, China's slowdown and flaws in Basel III.
Japan lashed by the Fed
The Abe government is using a questionable reading of history to justify policies that are increasing rather than reducing the gloom over Japan’s prospects
Fed comes under renewed fire as governance structure challenged
An under-staffed board, embarrassing leaks and outspoken regional presidents pose challenges to the Fed as it seeks to exit loose monetary policies. Is it a good time to review its governance structure?
Can inflation derivatives help the ECB hit its inflation target?
The ECB could reinforce its pursuit of price stability by using inflation derivatives should current tools prove insufficient or the implementation of QE encounter technical difficulties
Nobel economist Sims on fiscal stimulus, Eurozone loss sharing and role of central banks
The Nobel laureate speaks with Christopher Jeffery about his scepticism regarding secular stagnation, the eurozone’s failings and the need for inflationary fiscal stimulus at the zero lower bound
BIS’s Shin on international co-operation, inflation targeting and integrating finance into economics
BIS head of research talks to Daniel Hinge about opportunities for international co-operation, integrating finance and macroeconomics, and whether anyone is listening to the institution’s advice.
Managing financial stability, monetary systems and the economic order
If policy-makers fail to address the challenges presented by strong feedback loops between the economic and monetary systems, the next crisis could seriously damage faith in market-based economies
The Fed’s impact on emerging market sovereign wealth investors
With central bank reserves seeing their biggest drop in more than a decade during the second quarter of 2015, Arvid Ahlund asks if tighter US policy will make matters better or worse