Demographics
Rethinking policy transmission in the age of AI
Managing machine expectations will require analytical innovation and potentially new forms of oversight, argues Elisa Vilorio de Painter
Monetary policy alone will not solve Korea’s problems – paper
Study calls for structural changes to tackle ageing population, high debt and low growth
Book notes: Inflation, by Mark Blyth and Nicolò Fraccaroli
An accessible explainer about the narratives surrounding inflation – and who it benefits
Ageing societies limit monetary policy space – BoK study
“Super aged” populations cut growth and inflation, and weaken banking sector, authors say
China’s policies reduce risk of ‘Japanification’ – study
Bank of Spain research compares country’s economic challenges with its Pacific neighbour’s in 1990s
New Zealand’s ageing population may drive down rates – study
RBNZ research says “grey wave” may make it harder to stimulate economy with cuts
ECB unveils latest strategy fit ‘for all circumstances’
Chief economist says unconventional tools are “unconventional for a reason”
BoK paper links real interest rate to demographic shift
Higher life expectancy and lower birth rate exert downward pressure on rates, researchers find
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
As a population ages, impact of deflation worsens – BoJ study
Research says falling prices inflict greatest harm on young people
Interpreting the PBoC’s slew of policy reforms
How are new stimulus measures, bond market tactics, deflationary pressures and monetary policy framework changes affecting central banking in China?
All eyes on the Fed
The US central bank faces a challenging path to fulfil its mandated goals
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
New York Fed paper argues for wage insurance
The programme would pay for itself and increase lifetime earnings, researchers say
Communications Benchmarks 2024 – model banks analysis
Additional breakdowns of the data highlight differences in emerging market and advanced economies
BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
The BIS’s Asia chief speaks with Christopher Jeffery and Jimmy Choi about supporting liquidity, financial stability and innovation in the Asia-Pacific region
Obstfeld argues central banks’ rate models are ‘conceptually flawed’
Former IMF chief economist says rates could soon return to the effective lower bound
Policy-making amid war in Gaza
Bank of Israel has implemented a textbook crisis response, but uncertainty remains
Study estimates scale of ‘demographic drag’
Loss of economic growth from population ageing could be significant, authors warn
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments