International
Working group minutes: reserve managers chafe at constraints
Officials at several central banks say limited investment universe restricts room for manoeuvre
The past and future of BIS economics
The monetary and economic department has become an influential force in central bank economics. Claudio Borio looks back over 37 years at the institution and Hyun Song Shin looks to the future
Book notes: The bankers’ new clothes, second edition, by Anat Admati and Martin Hellwig
A disjointed book where ‘I told you so’ new chapters add little to the excellent original analysis
Pablo Hernández de Cos to be next BIS general manager
Agustín Carstens will leave in 2025 after leading transformation project
The frontiers of AI in central bank communications
Comms experts assess technology's value in video production, message generation and more
Paper offers solution to EME monetary transmission puzzles
Price and exchange rate conundrums are interconnected, authors find
Book notes: The road to freedom: economics and the good society, Joseph E Stiglitz
A stimulating amalgamation of previous ideas presenting the kind of economic system most conducive to decent society
Fed makes post-presidential election rate cut
Chair Powell stresses Trump’s election as president will have no effect on policy in the near term and he has no plans to resign at Trump’s request
IMF paper tracks banks that are ‘keeping coal alive’
Pull-back of many lenders is leaving concentrated exposures and roll-over risk
How AI is shaping the future of payment system oversight
Biagio Bossone explains that sound AI policies can be a powerful ally supporting financial stability
Crashing the nth party: how third-party service provider risks compound
Cross-border collaboration may help deal with risks from multiple layers of outsourcing
BIS to hand over Project mBridge to central banks
CBDC platform does not help Brics countries evade sanctions, says Agustín Carstens
Mamo Mihretu on the radical reform of central banking in Ethiopia
Ethiopian governor speaks about simultaneous monetary policy and exchange rate reform, opening the country’s financial system and a fundamental reset for Africa’s second most populous economy
Norges Bank governor explores monetary policy trade-offs
Demand channel requires greater unemployment than currency channel, Bache argues
Emerging markets resilient amid global shift, governors tell panel
Smaller economies better placed to intervene during crises, say central bank heads
Global component of inflation surged in pandemic – research
Dallas Fed authors say international factors exert greater influence than they did pre-Covid
Book notes: Carbon colonialism: how rich countries export climate breakdown, by Laurie Parsons
Compulsory reading to gain insights into many climate issues that receive insufficient ‘airtime’
Governors differ on cross-border payments
Officials from Europe, Africa and Asia diverge over whether bilateral or multilateral links are best
Three kinds of firm still vulnerable to 2023-style crisis – FSB
Hardest-hit banks suffered outflows of 20–30% of deposits each day, report finds
IMF warns central banks not to keep policy ‘too tight for too long’
Chief economist calls for “triple pivot” as global economic outlook shifts
API standards would open up payment possibilities, says BIS
Bank also highlights financial and operational risks of linking systems across borders