Coronavirus
Governor of the year: Jerome Powell
The Fed chair has shown high levels of integrity and resolve in upholding his public duty in the pursuit of price stability and maximum employment
Shipping congestion drives up inflation – IMF paper
Study of tracking data shows delays at ports are reflected in headline inflation
RBNZ welcomes external probe into Covid-era monetary policy
Finance minister says bank’s easing and asset purchases caused ‘decades-high inflation’
Full ‘postmortem’ on QE yet to be written – Klaas Knot
Former DNB governor expects Fed to continue international monetary diplomacy under Warsh
ECB and ESRB warn of financial stability risk from geopolitics
New model takes prediction data to show US domestic politics affecting eurozone financial markets
Renato Gomes on Pix, Drex and digital asset regulation
Brazil’s deputy governor speaks with Christopher Jeffery about pros and pitfalls of open finance, financial inclusion and crime on Pix, and the need to sideline DLT for Drex phase 3
2025: The year in central banking
A look back at the biggest and most popular stories of the year
Richard Doornbosch on central banking in a tempestuous climate
The president of the Central Bank of Curaçao and Sint Maarten speaks to Christopher Jeffery about addressing legacy financial scandals, transition to a Caribbean guilder, tapping gold holdings and managing a currency peg at a time of US policy uncertainty
Firms in Italy keep mafia closer when credit is tight – paper
Economic shocks make it harder for businesses to refuse cosa nostra’s offers, says central bank report
The voice of the central bank in times of uncertainty
The NBU’s monetary policy head Volodymyr Lepushynskyi explains the importance of transparent communications in maintaining trust and managing expectations
Signalling sizeable spending spooks stock markets – ECB study
Larger-than-expected fiscal measures in times of uncertainty could backfire on governments
The weaponisation of payments
Central banks must integrate geopolitical resilience into their payment oversight, argues Biagio Bossone
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
On the eve of the Fed’s framework review
Experts speak about the Fed’s monetary strategy review, including the role of flexible average IT and the need to better communicate policy trade-offs
Weak productivity reduced output in Australia by up to 3% – study
RBA paper says decline has “profound implications” for citizens’ welfare
Book notes: How low interest rates change the world, by Jesper Rangvid
This book investigates the possible causes of ultra-low interest rates, the problems low rates cause and the path of future rates
Elizabeth McCaul on supervision, new macro-dynamics and investing in suptech
Former ECB Supervisory Board member speaks about Covid-19 and Credit Suisse shocks, regulation debates, the rise of non-banks and what makes tech projects succeed
More NBFI liquidity data could aid financial stability – ECB study
Research recommends active margin call monitoring for non-banks
Fed researchers look at age-old problems in US economy
More adults are moving in with parents and retirement levels normalise post-Covid, studies find
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput