Opinion/Governance
Who is Yi Gang?
Hui Feng says Beijing’s choice for PBoC chief fits into a wider liberal cadre across senior financial positions – but Yi faces plenty of challenges in delivering reform
A changing of the guard
Risks emerge amid leadership changes at the US Federal Reserve Board and the People’s Bank of China
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
“What would Allan say?”
Central Banking Publications founder Robert Pringle finds pearls of wisdom in his email correspondence with the late Allan Meltzer
Hans Tietmeyer and his ‘mission’ for euro stability
Otmar Issing on how the former Bundesbank president helped to drive Germany’s social market economy and was instrumental in the stable introduction of the euro
Last stand for central bank independence?
Political attacks on Janet Yellen and Mark Carney appear to be just the start of a sustained assault on central bank independence. It’s a battle the central bankers may lose
Central banks must better manage tensions over their autonomy
Kingsley Moghalu says emerging market central banks need to strike a difficult balance between autonomy and legitimacy – but the government must play a role as well
UK must ensure there is no Mark Carney exit
Calls for Bank of England governor to step down must be resisted – Mark Carney represents a vital source of stability at a time of heightened uncertainty for the UK
Brexit and Hungary’s challenge to European governance
The European Central Bank and Europe's political leaders must meet the challenge as another front opens for European monetary stability
Central Banking launches ‘responsive’ website
New website aims to offer more user-friendly experience, automatically adjusting to whatever device used – be it computer, tablet or smartphone
The MPC process in light of the Warsh Review
The Bank of England’s revised MPC meeting schedule has some merits but will not add to transparency and raises the risk of news shocks, writes former member Charles Goodhart
Central banks are on the losing side of government pacts
Quantitative easing by the ECB and the Bank of Japan brought market cheer. But, absent meaningful structural reform, is miring central banks deeper into an ever-more dangerous policy cycle.
Opinion: Carney’s dismissal of using monetary policy to resist rising asset prices is 'vacuous'
It is vital that politically independent central banks should work within a political vacuum, rather than adjusting their monetary policy reasoning to avoid subsequent political controversy
Sanusi: untainted by oil
Sanusi Lamido Sanusi’s aggressive reform agenda and efforts to defy powerful vested interests in Nigeria have secured a positive legacy despite bringing politics to the central bank.
An alternative vision of the Old Lady
The Bank of England needs a structure that ensures the preeminence of professional central bankers rather than theoretical economists
Cold comfort for Icesave guarantors
Putative Icelandic government demands on the Landsbanki insolvency estate likely behind UK and Dutch lawsuits
‘Yellenomics’ – the second coming of Keynes at the Fed
Janet Yellen's confirmation is an historic shift toward a more activist Fed, a reinstatement of Keynesian economics and expanded government in general, writes Thomas Cargill
Robert Pringle’s Viewpoint: Janet Yellen - that honeymoon feeling
Comparing what the new Fed chief should do with what is likely
Robert Pringle's Viewpoint: Carney makes his mark at the Bank of England
Mark Carney has achieved much more than meets the eye in his first five months as governor of the Bank of England
Developing countries focused on financial inclusion are reshaping central banking
Efforts in developing and emerging economies to promote financial inclusion for the world’s 2.5 billion unbanked population offer lessons to their developed world peers
A sad ending to Summers versus Yellen
The politicisation of the debate over who should be the next chair of the Federal Reserve may be a sign of the times, but it is a sad day for central banking, argues Thomas Cargill
Robert Pringle’s Viewpoint: Rebalancing the fraught relationship between governments and central banks
The growing politicisation of central banking involves central bankers needing to make difficult judgement calls on the areas that lie outside of their competence
Thatcher's stance on the ECB deserves re-appraisal
Former UK prime minister Margaret Thatcher feared an independent ECB ‘accountable to no one, least of all national parliaments'. Her concerns seem even more relevant today
BoJ changes represent the death knell for central bank independence
The growing policy crisis caused by central banks taking on roles beyond price stability and lender of last resort is not down to 'independence' – as the BoJ case points out