Independence
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
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
Brian Langrin takes helm at Bank of Jamaica
Former head of financial stability succeeds Richard Byles as governor
UK has a new prime minister, but the same fiscal woes
Debt, spending and bond markets present challenges for Burnham and BoE, say former MPC members
Trump downplays reports of regular calls with Warsh
Talks between president and Fed chair have precedent, but frequent communications would be unusual, economist says
Trump renews push to sack Fed governor Lisa Cook
White House formally notifies Cook of possible dismissal, and gives governor until August 26 to respond
Destry Damayanti tapped to serve as Bank Indonesia governor
Expert says nominee, who has served as BI deputy governor since 2019, will be viewed as a safe pick by markets
Colombia holds rates in surprise move
Banrep says Middle East conflict and El Niño could intensify inflationary pressures
Milei claims central bank reform will end 91 years of ‘looting’
Argentinian president’s proposals include core mandate on inflation and ban on monetary financing
Bank Indonesia governor resigns unexpectedly
Central bank cites personal reasons for Perry Warjiyo’s departure as independence concerns mount