CB In Depth
Banknotes: July to September 2023
A round-up of news and salient issues that have affected central bankers in the past three months
When £1 is not £1
Gabriel Stein examines the risks from introducing a CBDC should its value diverge from that of physical currency and bank deposits
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
Supervisory soft skills: working in a consensus-driven environment
New studies highlight the importance of supervisors being able to say ‘no’ – and persuade banks to act accordingly, writes Manoj Singh
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
Cash for a very rainy, tremorous or lava-filled day
Are central banks well-positioned to keep cash flowing during natural disasters?
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Ecuador’s general manager speaks about bolstering legal autonomy, dollarisation, payments and gold production
Machine learning pushes frontier of forecasting
AI techniques are starting to transform central banks’ modelling
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months
People: April to June 2023
A round-up of central bankers in the news and on the move during the past three months
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
‘Back to the future’ for FX reserve management
Rise in bond yields changes the dynamics of ‘security, liquidity and return’, writes Gary Smith
A troubling trilemma
Central banks need to tread a fine line as they serve as the economy’s police, fire brigade and paramedics
Banknotes: January to March 2023
A round-up of news and salient issues that have affected central bankers in the past three months
People: January to March 2023
A round-up of central bankers in the news and on the move during the past three months
Central bank websites: how to keep track and make them better
Central banks share their experiences in gauging website performance
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
The behind-the-scenes effort to convert Ukrainian refugee cash
How central and commercial banks worked to allow Ukrainians to exchange cash in wartime
Book notes: The illusion of control, by Jon Danielsson
Jon Danielsson’s book makes a compelling case for a serious rethink on financial crises and risk management