Fiscal policy
Carstens calls for ‘greater realism’ on what policy can deliver
Monetary policy should avoid “excessive fine-tuning”, BIS chief says
Governance and diversity at the Federal Reserve
Could changes in governance practices have contributed to poor performance in 2021–22? asks Jeffrey Lacker
Indexation makes inflation more persistent, IMF finds
Economists draw conclusions from IMF survey of 190 countries’ indexation practices
Book notes: We need to talk about inflation, by Stephen King
A short, sensible book that highlights key issues – and might make a good, belated Christmas gift!
Eurozone inflation affects fiscal policy, ECB paper finds
Authors say there is evidence of “turning point” for inflation’s impact on primary fiscal balances
Israeli governor warns over war spending after rate cut
Government could lose economic credibility without fiscal re-think, Yaron says
Finance ministry rep: a guest, a partner or an intruder?
Many central banks let government officials participate in policy meetings. Is that wise?
Mozambique parliament passes SWF law
New fund will absorb oil and gas revenue in line with IMF conditions
Argentina adopts new policy rate
BCRA will use overnight reverse repo rate after halting auctions of Leliq bonds
Ghana’s Ernest Addison on the chain of events that led to a loss of $5 billion
The Bank of Ghana governor speaks about monetary financing, ‘independence’ and the offline e-cedi
Argentine government devalues peso and replaces governor
Finance minister announces austerity as IMF welcomes new president’s early moves
Bolivia reserves shortage worsens
Fuel runs short as ex-governor says government “does not want to recognise” crisis
Obstfeld argues central banks’ rate models are ‘conceptually flawed’
Former IMF chief economist says rates could soon return to the effective lower bound
Milei confirms Santiago Bausili as BCRA pick
Appeals court recently dismissed conflict-of-interest charges against governor-designate
Fixed income in a new era
Global reserve levels are recovering from a series of unprecedented economic shocks. In the new interest rate era, bonds became more appealing as yields rose. But they also come with the risk of devaluation as above-target inflation persists. Many…
A turning point for reserve managers?
After many central banks’ reserves declined in 2022, how should managers evaluate their fixed income investment policies in an uncertain period following years of unprecedented shocks?
Karnit Flug on the Bank of Israel’s emergency responses and challenges ahead
The former Israeli central bank governor and current vice-president of the Israel Democracy Institute speaks with Christopher Jeffery about the BoI’s targeted emergency responses, economic uncertainties and central banking independence
IMF says Bahamas must tighten monetary financing rules
Country adopted new limits on central bank loans in April, but IMF says cap still too high
The ECCB’s Timothy Antoine on currency union, cooperation and DCash 2.0
The ECCB governor speaks with Christopher Jeffery about maintaining a currency zone, addressing climate and cyber risks, the decline in correspondence banking and lessons learned from issuing a retail CBDC
Israeli PM offers Yaron second term as governor
Yaron’s future as governor had been in doubt after Netanyahu refused to comment on his role
Paper calls for Sarb to pass reserves to South African government
Report says central bank contingency account appreciated by nearly $8 billion