Opinion/Central Banks
Robert Pringle’s Viewpoint: Can banking recover its lost reputation?
The UK’s Parliamentary Commission on Banking Standards issued a thoughtful paper in December offering clarity on some of the flaws present in current banking reform
Legal traps facing the ECB
The European Central Bank is set to gain supervisory powers over the continent’s banks via the single supervisory mechanism. René Smits explains the practical issues linked with the banking union
ECB in danger of being forged from fiscal fragility
Mario Draghi has made his mark at the helm of the European Central Bank. But Europe also needs a core set of values that must not be violated
Systemic risk in Europe heightened by Target trap
Huge Target liabilities may explain why Germany sanctioned proposals for ECB bond-buying and the formation of the ESM. But this will not solve Europe’s problems
Robert Pringle’s Viewpoint: Changing of the guard at the Bank of England
Mark Carney's nomination as governor of the Bank of England will be viewed as punishment for the central bank’s staff failing to avert the financial crisis. But Carney also has many strong qualities
Robert Pringle’s Viewpoint: How governments are undermining world finance
Central bankers need to forcefully express their concerns about the unintended consequences of new regulatory policies
Panic in Persia as hyperinflation hits Iran
Iran’s implied monthly inflation rate hit 69.6% in September, meaning the country appears to be entering the world's 58th hyperinflation episode
Robert Pringle’s Viewpoint: Fixing banks and regulation
Central bank balance sheets are ballooning due to the failure of banking systems and new rules are unlikely to address the issue. Only a full legal separation of banking activities will do.
PBoC repo activity does not signify a major shift to open market operations
Substantial market intervention by the People’s Bank of China during the past few months does not signify a policy shift to open market operations – at least, not for now – says Hui Feng
Robert Pringle’s Viewpoint: Central bankers gamble for high stakes
The world’s major central banks have made high-stakes bets in a bid to stabilise economies. But their efforts may do little to promote confidence in the longer-term future of monetary management
The puzzle of monetary policy
The centrepiece of macroeconomic management, inflation targeting by central banks, remains virtually unchallenged despite the crisis of the past five years. This needs to change, argues John Gieve
Robert Pringle’s Viewpoint: The next governor of the Bank
British bank scandals have dramatically reduced the likelihood of a commercial banker taking over from Mervyn King as governor of the Bank of England. But there are still plenty of other candidates
Robert Pringle's Viewpoint: Fatal flaws in inflation targeting
Central bankers face a ‘lose-lose situation’ by accepting dual price and financial stability mandates when even their ability to achieve price stability via inflation targeting is in question
Robert Pringle’s Viewpoint: Under pressure from Hollande and Obama
François Hollande, the new president of France, takes up residence in the Elysée Palace at a time when significant economic adjustment is taking place in the eurozone, albeit at high cost. His victory looks set to add to pressure on central bankers – and…
Robert Pringle's Viewpoint: The Fed, the euro and the IMF
Caruana and Shirakawa offer timely warning on the limits and dangers of loose monetary policy; more reform required in Europe
Robert Pringle's Viewpoint: Strauss-Kahn on central banks, the euro and the dollar
Dominique Strauss-Kahn’s personal failings deprived the world of a leader with the expertise, vision and drive to push though vital monetary and economic reform. But his views still hold weight
Goodhart hits out at current macro-prudential focus
Economist Charles Goodhart agrees with Robert Pringle that risk and return incentives need to change at banks to ensure future financial stability. But permitting failures is a step too far
Macro-prudential powers are no panacea
Central banks will take on substantial new macro-prudential supervisory powers in the years ahead. But this is a dangerous experiment, and a step in the wrong direction