Opinion/Comment
The Fed’s trade policy dilemma
FOMC should loosen, but members must speak out more forcefully against tariffs
The IMF should adopt a ‘real SDR’
A vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor
PBoC is navigating into uncharted waters on RMB
Renminbi depreciation will cause problems at home and abroad
Are central bank digital currencies inevitable?
Launching a CBDC could protect the pre-eminence of public money, a new report argues
The twilight of banking supervision
Supervision of banks in Europe has deteriorated
Doves vs hawks: IMF advice on unconventional monetary policy
Funds’ advice on innovative measures has not always “stood the test of time”, writes Philip Turner
Putting modern monetary theory to the test
Sayuri Shirai asks whether MMT might hold the solution to Japan’s stagnation
Education, education, education: designing a master’s in global central banking
The BoE’s Paul Fisher says there is a growing need for all-round central banking education
Motivations and prospects for central bank digital currency
Sayuri Shirai surveys the many forces driving increased interest in CBDC
Finding our way to the new Ibors
Richard Heckinger highlights possible pitfalls on the road to new reference rates
Walking the talk – engaging with indigenous communities
Engaging with disadvantaged communities is increasingly recognised as important by central banks
Should central banks be more active in managing integrity risks?
Antti Heinonen says central banks can mitigate ethical risks around banknote procurement
Latest restructuring boosts the PBoC’s regulatory clout
Hui Feng says the PBoC’s restructuring carries “profound implications” for its policy role
Supervisory lessons: resolution is a ‘dirty business’
Aristóbulo de Juan offers a toolkit for resolving problem banks
EME central banks can counter the next downturn
Philip Turner urges central banks to consider a broad range of actions to tackle volatility stemming from currency mismatches
Media matters
Mike Hannah says central bank communications teams need to look beyond traditional media
Supervisory lessons: the need for intrusive supervision
Aristóbulo de Juan reveals his central principles for the (intrusive) supervision of banks
What is the future of banknotes?
Antti Heinonen searches for clues on the future of banknotes at central banks worldwide
Supervisory lessons: fault lines in prudential regulation
Aistóbulo de Juan highlights the lessons he has learnt about weaknesses in prudential regulation
Reserve management practices are splintering
Traditional approaches to reserves management are breaking down, writes Jennifer Johnson-Calari
Supervisory lessons: management traits of problem banks
Aristóbulo de Juan highlights lessons he has learnt from management of problem banks
Capital markets union a la Willie Sutton
A genuine source of funding is needed for Europe’s capital markets union
Trump and Erdoğan: cut from the same populist cloth
Barry Eichengreen compares the respective strongmen of the US and Turkey
A mere tweak or a step toward normalisation?
Sayuri Shirai says the BoJ has controlled market expectations while still opening the door to normalisation