Coronavirus
External shocks tighten credit conditions – ECB bulletin
New index finds funding becomes scarce after unexpected changes in economic activity
BoE’s scenarios are best way forward, say ex-MPC members
Former UK policy-makers say forecasting approach is suited to today’s highly uncertain times
Banque de France’s Denis Beau on supervisory reform
The Banque de France’s deputy governor speaks about suppression of the systemic risk buffer, proposals for a TLAC floor, and simplifying bank regulation and resolution
RBA outlines monetary tools for stimulus when rates are low
Central bank says additions to policy toolkit make it better prepared for shocks
Mervyn King on his career and big ‘mistakes’
The former BoE governor speaks with Christopher Jeffery about the value of transparency, lessons from the GFC, the need to track broad money and tie short-term funding to haircut collateral, and danger presented by non-banks
QE reduces bonds’ safe haven properties – BdF paper
Safety is becoming ‘increasingly fragmented’ across asset classes, researchers say
‘Dark corners’ authors on setting policy under intense uncertainty
Douglas Laxton and Shalva Mkhatrishvili say policy-making should work to avoid the worst outcomes
Powell makes renewed case for Fed independence
Former chair invokes presidents Kennedy and Adams in plea for institutional autonomy to be respected
French lawmakers confirm Moulin as next BdF governor
Villeroy de Galhau’s successor opens door to greener policies, throws support behind digital euro
High-value notes: default money for criminals?
Some experts say the notes are a boon for felons, and that central banks should stop issuing them
Leading central bankers defend frameworks amid ‘polyshock’
Panellists at SNB-IMF event say policy-makers should remain cautious in face of uncertainty
Dark corners: the renewed push for risk-based monetary policy
Central banks are still struggling to perfect models, scenario analysis and risk communication
The role of high-denomination banknotes
High-value notes are an important store of value and remain in demand during crises
Current threats to central bank independence
Improved communications, advocacy for tech oversight and international co-operation will help to address challenges posed by populism, excessive debt and new forms of money, write Gavin Bingham, Paul Fisher and Andrew Large
Currency manager: Central Bank of Curaçao and Sint Maarten
The central bank overcame a nine-year hiatus to launch the Caribbean guilder
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
Reserve manager: Central Bank of the Philippines
New risk management approaches, forward-looking SAA tranching, internal capacity building and a redesigned external fund management framework set the BSP apart
Risk manager: Central Bank of the UAE
The new integrated risk management approach is identifying control gaps and enhancing efficiency
Monetary policy in Asia since the pandemic
Asean+3 nations must plan to tackle ‘disturbance’, ‘structural’ and ‘radical’ uncertainty using a disciplined policy mix to preserve price stability amid global shocks, writes Dong He
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’