Independence
BIS study traces life and death of currencies since 1850
Currencies are usually created for political reasons, but ‘often die for economic ones’, authors find
The risks and returns of ever-expanding swap and repo lines
Increase in central bank swap agreements and repo facilities should help to counter future liquidity squeezes. But the proliferation is fraught with political risk
Paraguay’s central bank rebuffs bank supervision criticism
Several politicians have called on BCP leadership to resign over supervision of Ueno Bank
Former NBP chief questions Glapiński’s political neutrality
Possible tribunal referral could leave Poland’s central bank short of a leader
Governor says NBU not under suspicion in police raid
Bank also rejects reports that Andriy Pyshnyy had submitted his resignation
Dan Katz on the IMF’s role amid a fracturing economic system
The first deputy managing director speaks about the fund’s efforts in technical assistance, central bank guidance, debt workouts and surveillance in a system beset by fiscal imbalances, geopolitical fissures and digital disruption
Resilience is watchword in IMF’s World Economic Report
Tenreyro says sources of oil, trade and tech inputs should be diversified if economies are to withstand shocks
Pacific series: PNG’s governor on 40 years at the central bank and her plans for its future
Elizabeth Genia speaks about reaching remote communities, FX, green finance and leadership
Villeroy de Galhau rejects ‘populist’ critique of central banks
Independent institutions belong in driver’s seat ‘more than ever’, says former BdF governor
Goodhart and Pradhan on the end of monetary independence
The unanchored central banker authors speak about how ageing populations, soaring healthcare costs and rising fiscal deficits will force central bankers to compromise on inflation targets and bail out indebted governments
Democracy crucial to central banks’ independence, Wunsch says
National Bank of Belgium governor says invective is crowding out rational discourse
Populism casts long shadow over central bank policy – NBER paper
Countries with history of monetary financing make extra effort to show anti-inflationary credentials
Venezuela in talks to move gold from London to New York
Any agreement should be accompanied by reforms such as central bank independence, lawyer says
Federal Reserve delivers first rate hike since 2023
FOMC expects policy to remain around 4.1% for 2026–27 and inflation to reach 2% by 2029
Populism poses ‘serious challenge’ to central banks – Bailey
Monetary authorities need to respond to ‘growing scepticism’, BoE governor says
Demographics force central banks into balancing act – Goodhart
Panel weighs risks to central bank independence from fiscal pressures, in part due to ageing societies
Central bank credibility not just about legislation – paper
NBER researchers say once independence has been granted, trust still has to be earned
Energy shock causing limited economic harm – study
Belgian central bank blog warns current buffers may fail to keep global economy afloat if Iran war continues
Indonesian lawmakers approve Damayanti as BI governor
Parliament also confirms deputy governors, with formal appointments set for next month
High debt raises ‘macro-financial’ risks in Americas – BIS study
Bulletin says interest costs can result in risk premia feeding into inflation expectations
Tim Young on why UK is on edge of a fiscal crisis
In his final op-ed, the ‘rebel economist’, who passed away earlier this month, outlines the challenges Andy Burnham and the BoE will have to deal with