Opinion/Central Banks
In qualified support of coco bonds
Europe’s supervisors need to develop a code of best practice to support the prudential issuance of contingent convertible bonds, argues Andreas Dombret
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.
Evaluating the IMF’s performance in the financial crisis
The results of the IMF’s Independent Evaluation Office investigation into the Fund’s handling of the global financial crisis are deeply flawed.
Three strikes against the Federal Reserve
If you want to know why US economic recovery has been so sluggish, look no further than the policies of the Federal Reserve, argues Allan Meltzer
Robert Pringle's Viewpoint: The global finance system is in bad need of repair
Muddling through is not enough: neglect of global money can trigger political earthquakes that sweep away any chance of reasonable debate and compromise
The shift to a multi-polar world
Extraterritorial reach of US policies could hasten the use of alternative currencies; decision on renminbi inclusion in SDR may be a tipping point for relevance of Bretton Woods institutions
Robert Pringle’s Viewpoint: Time to cure central bankers’ deflation phobia
The policies followed since the ‘great crisis’ have not succeeded in restoring confidence. It is time to try a different approach
Robert Pringle’s Viewpoint: Stanley Fischer responds to the Fed’s foreign critics
The Federal Reserve vice-chair rightly insists that each nation should each keep its house in order; but the global village needs to be kept tidy as well
Robert Pringle’s Viewpoint: A qualified case for Scottish independence
If the Scots vote for independence they will run many risks including a perilous path to create a Scottish currency; but they have the human resources to make a go of it
Robert Pringle's Viewpoint: Haldane plus Rajan = New model central bank?
Robert Pringle offers an alternative to Bank of England chief economist Andrew Haldane’s scenarios for the next 25 years of central banking
New frontiers for central banking
Central banks are embracing macro-prudential policies with the same gusto as they did inflation targeting and independence in the 1990s. But they are in danger of over-relying on such approaches
Opinion: Sepa opens borders for European money
ECB’s director-general of market infrastructure and payments reflects on the successful creation of the single euro payments area, its beneficial impacts and the payment cards challenge to come
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
Robert Pringle’s Viewpoint: Start policy normalisation now!
Policy changes are needed to reduce the chances of another recession
Robert Pringle’s Viewpoint: Coping with capital flows
All nations face major challenges dealing with capital flows. In the absence of systemic reform to monetary and exchange rate systems, central banks will need to patch and mend where they can
Opinion: The ECB is in danger of losing its voice
Mario Draghi's primary monetary policy tool - communication - may no longer be enough, says Patrick Artus of Natixis
Robert Pringle's Viewpoint: A pride of central banks
Much current criticism of central bankers misses the point, but there is no room for complacency
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.
Robert Pringle's Viewpoint: Time for central banks to play politics
Central bankers need to use the breathing space created by their extraordinary policies to lobby for deeper reform