Data
Working group minutes: refining forecast models
Central bank economists discuss challenges of tackling errors and integrating new model features
Governing boards approve majority of strategic plans
Departmental heads widely assigned implementation duties
Three in four central banks use dedicated strategic units
Units typically have a direct reporting line to the governor
Events are top channel for strategic plan communication
But over half of plans lack a framework for communication
Digital transformation and payments are major strategic goals
But few respondents prioritise AI or mandate changes
Strategic planning is ad hoc in 10% of central banks
Strategic plan-setting frequency averages 3.8 years across institutions
Researchers build ‘most comprehensive’ global macro database
Long-term data reveals financial crises can harm growth for half a century
Most central banks fund strategic plan delivery with standard budgets
Only two-fifths of jurisdictions have dedicated budget for strategic objectives
The implications of IFRS 18 for central banks
The new accounting rule on presentation and disclosure in financial statements may require changes in reporting practices and systems, complicating consistency and materiality considerations
Tracking the changing cash cycle: a global analysis
Antti Heinonen highlights sharp declines in note-return frequency and destruction rates
Rewriting the monetary balance sheet
Biagio Bossone and Massimo Costa write that a new accounting approach is needed for central banks and commercial money in the digital age
Do central banks need more tools to regulate the financial system?
Policy-makers from Armenia, Thailand and New Zealand share perspectives on how to keep up with the ever-changing industry
Do Trump/Doge materially threaten the Federal Reserve?
Experts weigh in on the danger levels for the US central bank, including whether it is overstaffed
Salary still poses greatest challenge for recruitment
Staff morale constitutes lowest constraint but is a concern for some central banks
Two-thirds of central banks regularly audit policy processes
Internal and external audit functions are combined in most jurisdictions
Agent-based models come of age
Central banks are increasingly modelling the economy as a complex system
Larger central banks more likely to have diversity policy
Boards with appointment powers more often focus on diversity
Most governing boards operate under charters
Strategy-setting and budget approval are boards’ top responsibilities
One in three central banks operate supervision committee
Government officials’ membership on boards still rare
Governors serving limitless terms tend to earn lower salaries
But governors’ average salary remains over $200,000 a year
Most governors lack legal immunity against prosecution
One-fifth of removable central bank governors shielded from legal actions
Governors serve unlimited terms in half of central banks
While term length averages five years, majority of governors can be dismissed early
Smaller central banks more likely to manage government debts
Consumer protection widely overseen in larger institutions
Central Banking Awards 2025: third group of winners released
Paraguay recognised for market infrastructure and IMF for work on AI, as green and FMI awards also unveiled