Investment
Chile’s Costa on tackling inflation, forex interventions and nowcasting
Chilean governor discusses stubbornly high prices, Fed spillovers, reserve buffers, retail CBDC and unconscious bias
Book notes: Zero interest rate policy and the new abnormal, by Michael Beenstock
Thesis that QE caused low r* is entertaining and infuriating in equal measure
PBoC eases rules to lure foreign bond investors
New rules include allowing foreign investors to conduct FX trades with more financial institutions
BdF to achieve 1.5°C climate goals by 2026, governor says
De Galhau calls for mandatory climate disclosure, green capital requirements and collective ecological governance
Podcast: the effect of monetary policy on reserve management
Global rise in inflation is having an impact on central banks' reserve strategies
DNB advises pension funds to boost liquidity – report
Following UK crisis, Dutch central bank asks funds to monitor stress signals and review liquidity rules
Hong Kong sets up investment company using HKMA funds
Analysts draw parallels between the new company and Singapore’s sovereign wealth fund Temasek
IMF opens long-term lending initiative
Resilience and Sustainability Trust will offer 20-year packages to mitigate long-term problems
BoE becomes reluctant market-maker of last resort
Gilt market turmoil has again forced the BoE to intervene. Is there a better way?
US needs tighter policy, former senior Fed adviser says
Higher rates will cause little damage to supply chains, David Wilcox argues
ETFs in reserve management focus report 2022
Exchange traded funds (ETFs) have risen in popularity among investors and may be of interest to central bank reserve managers in pursuit of safety, liquidity and returns. Central bank mandates vary, but all reserve managers must navigate a new, complex…
Navigating a new, complex economic environment
In 2021, net assets in exchange-traded funds (ETFs) stood at almost $10 trillion, after inflows of more than $1 trillion
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
BAM governor speaks about Covid-19, Fed tightening, BIS membership, regional co-operation and inclusion
People: July to September 2022
A round-up of central bankers in the news and on the move during the past three months
Joseph Stiglitz on the challenge of fixing macroeconomics
Nobel Prize-winner discusses if central banks went wrong in 2021 and what to do about inflation
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions raise questions about the US dollar’s central role
The PBoC, real estate debt and financial stability in China
Officials have restricted policy space due to efforts to contain property risks amid slowing growth
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
RBA hits out at further delay to new clearing system
Blockchain-based system for Australian Stock Exchange won’t be operational until at least late 2024
Rethinking regulation of the modern financial system
Rules need to address uncertainty in addition to risks, and should not be too complex
Mismeasurement may cause ‘missing-investment puzzle’ – BoE’s Bailey
Rise in intangibles could explain apparent fall in investment despite stable returns, governor says
Central African Republic launches crypto asset
Regional central bank reaffirmed ban on cryptocurrency after CAR made bitcoin legal tender
Modelling the short-term economic impacts of climate change
Econometric models can give central banks a clearer picture of short-term climate impacts, says Stephen Millard