Opinion/Comment
Defending the basis
Benefits of additional Treasury liquidity may outweigh potential intervention costs during a hypothetical panic, writes Joseph Wang
Data sharing as a policy intervention
Increasing access to data represents another policy lever regulators can pull to achieve their objectives, writes David Bholat
Yes, Argentina can replace the peso with the US dollar
Steve Hanke and Matt Sekerke explain how dollarisation can succeed despite the BCRA’s limited reserves
Central banks must brace for another energy shock
Conflict between Israel and Hamas adds to the risk of inflation and recession, says Paul Mortimer-Lee
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
Demand for cash under uncertainty: a global update
Antti Heinonen explores data showing surges in cash demand during periods of uncertainty
A league table for central bank hawkishness
Steve Kamin runs the numbers to assess which central banks have raised rates most aggressively
Stress-testing the banking system: what lies ahead?
Pedro Duarte Neves says stress tests must evolve to capture systemic, liquidity and cyber risks
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
Data privacy and protection: non-negotiable supervisory equations
Manoj Singh says data protection is essential to modern finance, but throws up myriad supervisory challenges
Jackson Hole in the wake of policy rules
Symposium heralds a move to relying on incoming data and judgement, rather than rules or even formal models, to hit inflation targets, writes Barry Eichengreen
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay
Global growth is stalling: what must be done?
Jagjit Chadha says leaders are failing to make a serious attempt to tackle deepening global problems
Time to pay policy-makers based on their performance
The remuneration framework for central bankers needs reform amid failures to hit inflation targets, argues David Bholat
Supervisory soft skills: working in a consensus-driven environment
New studies highlight the importance of supervisors being able to say ‘no’ – and persuade banks to act accordingly, writes Manoj Singh
The financial sanctions maze
Anyone affected by Russia-related sanctions knows patience and caution are strongly advised, writes Richard Heckinger
A letter to Andrew Bailey
Jagjit Chadha warns the Bank of England governor not to let markets take control
Deposit insurance: what lies ahead?
Proposals to redesign deposit insurance may be neglecting the market’s role, says Manoj Singh
Legislation is needed for future-reliable cash infrastructure
Dutch finance ministry’s recognition of cash’s “very important” role is a welcome step, says Martina Horakova
Bank failure déjà vu
New bank capital rules were meant to ensure failures would be less frequent and resolution not involve taxpayer money. Then came the collapse of Silicon Valley Bank and Credit Suisse, writes Jesper Berg
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Advanced economies face slowdown and stubborn inflation
Jagjit Chadha analyses the shifting outlook for the world economy
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai