Independence
Governance Benchmarks 2026 – executive summary
Benchmarks data explores many legal issues, including scope of central bank law, independence and legal protections for governor
Geopolitics and debt are headwinds for dollar – Hammack
Cleveland Fed president says greenback’s long-term pre-eminence cannot be ‘taken for granted’
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
Colombia’s rate hike prompts government backlash
Finance minister Germán Ávila exits Banrep board in protest at 100 basis point tightening
Governors still lack immunity
Benchmarks data gives mixed picture on the protections officials can expect from criminal and civil actions
Sabine Mauderer on the past, present and future of the NGFS
Bundesbank official discusses green policy, the Fed, data blind spots and future prospects
Independence lower where central banks face legal issues
Financial independence a bigger problem where central banks say law is inappropriately worded
Central Banking Awards 2026: the winners in full
Awards recognise extraordinary achievements in another challenging year for central banks
Fed holds amid uncertainty over oil shock and tariffs
Powell pledges to stay on as interim chair if Warsh’s nomination is not confirmed in Senate
Indonesia holds rates and adjusts FX rules to stabilise rupiah
BI says Middle East conflict provides greater reason for fiscal-monetary policy co-ordination
Central bank of the year: Central Bank of Nigeria
A return to policy orthodoxy under new leadership at the African central bank helped to bring Nigeria’s economy back from the brink
Fed watchers welcome court ruling on Powell
However, expert says DoJ’s appeal against decision could thwart Warsh’s confirmation as Fed chair
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
Fed independence key to dollar strength – FOMC member
Cleveland Fed chief says geopolitics and high US debt among factors that could ‘unseat’ greenback
Bangladesh Bank faces fresh questions over independence
Experts question governor’s affiliations after activists petition Supreme Court to have him removed
Rogoff and Pill sound warnings over inflation
Former IMF chief economist says markets are underestimating Trump’s long-term impact
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
Lagarde downplays odds of early exit
ECB president uses interviews to say she is on a ‘mission’ with a ‘baseline’ of serving out her term
Kashkari says research criticism is new threat to Fed independence
Minneapolis Fed chief says comments by NEC director are continuation of pressure on monetary policy
QT ‘crucial’ if ECB is to tackle future crises, says Nagel
Bundesbank president says dollarisation by way of stablecoins could weaken European sovereignty
Suspended Bulgarian deputy appointed as caretaker PM
Country’s president says Gurov is only candidate not tainted by association with outgoing government