Opinion/Comment
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
The strong dollar, global inflation and global recession
Steve Kamin asks whether the Fed’s tight policy is pushing the world towards recession
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
Should a CBDC really be like cash?
Electronic and physical cash are fundamentally different and must be treated as such
Reshuffle heralds new era of Chinese central banking
Policy room for next PBoC governor looks limited, as loyalists win out over technocrats for top economic posts
Quantitative tightening: missed opportunities
Treasuries and central banks must think harder about balance sheet policies, says Philip Turner
Some new monetary frictions
Negative net interest set to hit Fed earnings with monetary and fiscal policy implications
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
BoJ unlikely to move policy to counter yen weakness
Bank wary of raising rates or increasing its yield control target, writes Sayuri Shirai
US inflation: it’s mainly global
Steve Kamin analyses the pre-existing conditions that impacted inflation in the US and elsewhere
Corporate debt is a growing threat to financial stability
Policy-makers need to take action as tighter financial conditions risk tipping firms into distress
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
Gender equality is key to sustainable development
Bank of Zambia’s Rekha Mhango sets out central bank’s strategy on financial inclusion
Understanding informal remittances
Better tracking of remittance flows could give central banks valuable insights to support policy
Holding the line: the right response to war and Covid
Jagjit Chadha offers advice to policy-makers struggling to navigate between economic shocks
Tackling private-sector debt in the wake of the pandemic
Navigating Covid-19 debt is more of a challenge amid gathered storms of inflation and war, write Roong Mallikamas and Benjamin Weigert
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer
Central bankers have lost sight of inflation
Resurgence comes after crypto and climate distractions from primary task
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals
Do CBDCs make sense for Latin America?
Steven Kamin says CBDCs may be particularly beneficial to emerging market economies
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Quantum computing: ready for prime time?
Central banks should add QC to their strategic planning, despite it being a work in progress