CB Opinion
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
The dawn of average inflation targeting
The Fed has failed to explain how it will calculate the ‘average’ for its new AIT framework, raising new risks that central bankers would do well to reflect on
Public policy lines blur: implications for reserve managers
Crisis-fighting has pushed central banks into new forms of risk-taking, and this is now spilling into reserve management, says Jennifer Johnson-Calari
Global banknote developments before and after Covid-19
Antti Heinonen looks at how the pandemic triggered sharp changes in demand for cash
Estimating the cost of a pandemic grant for the world’s poorest economies
The cost of support measures for vulnerable economies is manageable, says Steve Kamin, but political leadership may be lacking
Central Banking’s strategic changes for a new era
New institute, benchmarks, virtual training and online event weeks launched
A new research agenda for the Bank of England
To manage the risks and opportunities of rapid financial innovation, policy-makers must look to cutting-edge research, writes Andrew Bailey
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved
Covid-19: a watershed moment for China’s BRI?
China faces a delicate balancing act when it comes to forgiving and restructuring Belt and Road Initiative debt while preserving the soundness of its financial institutions
How will Covid-19 hit central banks’ financial results?
The Covid-19 crisis has affected central bank incomes from seigniorage and other sources. But by how much, ask Zbigniew Polański and Mikołaj Szadkowski
How vulnerable are EMEs to renewed Covid-19 turbulence?
Emerging markets face twin pressures from the health crisis and global financial forces, says Steve Kamin
What makes for good financial supervision?
The Wirecard debacle has led to calls for more effective oversight in Europe. Andreas Dombret identifies four essential elements
Balancing data policies: what Covid-19 taught us
New rules are needed for data-sharing at a national and international level, write Theodoros Evgeniou, David Hardoon and Anton Ovchinnikov
NGFS offers concrete next steps to assess climate vulnerabilities
New climate risk scenarios will be incorporated into Bank of England stress tests and Bundesbank economic modelling, write Sarah Breeden and Sabine Mauderer
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
The impact of AI adoption on supervisors
MAS’s former data chief says a triad of basic AI training, supervisor data scientist hubs and suptech adoption create strong foundations
Can growth in developing Asia be made more sustainable?
The structure of the global economy will be reshaped by Covid-19, and what happens in Asia will be crucial, writes Philip Turner
Global carbon taxes are coming: central banks must prepare
The next financial crisis could be a green one. Are central banks doing enough to prepare?
Beware of capital: much ado about nothing?
Capital increases can be offset by asset valuation, provision and income recognition forbearance
‘Ostrich approach’ to financial stability is a mistake
Denmark’s top supervisor, Jesper Berg, says scaling back IFRS 9 would be a costly error, despite the economic challenges raised by Covid-19
Concentrated firepower: central banks must expand their arsenal
Philip Turner argues central banks should be prepared to go further to avoid economic and financial collapse
The dawn of a safer and sounder European banking sector
Implementation of two pillars of banking union has led to significant improvements in the safety and soundness of the European banking system
Inflation targets back in the spotlight
Monetary policy can do little to offset the impact of Covid-19
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy, writes Sayuri Shirai