Wednesday , January 22 2020
Home / Tag Archives: Speech / Interviews

Tag Archives: Speech / Interviews

A monetary policy framework for all seasons?

Mark Carney of Bank of England in this speech argues that Inflation targeting has been a framework for all seasons in UK: To set the stage for today’s discussions, I would like to do two things. First, I will review the conduct and performance of inflation targeting during my time as Governor. This period, which roughly coincides with the post-crisis recovery and which has seen more than its share of shocks and structural developments,provides some insights to the ability of inflation...

Read More »

Christine Lagarde interview: Owl, Green ECB, Taking ECB closer to people etc..

Interview of Christine Lagarde. Given the obsession with ornithology of central bankers, she considers herself as an owl: You have described yourself as neither a dove nor a hawk, but rather an owl. Why exactly this rather unusual type of bird? Owls are traditionally seen as birds of wisdom that can see well in the dark and have a wide range of vision. However, what I really wanted to highlight was my wish to ensure that discussions within the Governing Council take place in an...

Read More »

45 years of Central Bank of Barbados: 1972-2017

Central Bank of Barbados has released a book on its website (freely available). The book is written by Harold Codrington, retired deputy governor of the Central Bank of Barbados where he worked for 37 years. Both Sides of the Coin tells the history of the first forty-five years of the Central Bank of Barbados. It outlines the Bank’s role and function, explains its operations, and details how its employees helped to fashion a modern society and economy and build an institution of which...

Read More »

Earlier ECB resembled Bundesbank, now ECB resembles Fed?

Benoît Cœuré, member of ECB’s last day at the central bank is on 31 Dec 2019. ECB just organised a colloquium in his memory. This is a tradition which RBI should adopt as well  and organise conferences for the outgoing top management. In this interview, he is asked to reflect on his tenure, ECB and so on. One question is changes in ECB design: Since you started at the ECB in January 2012, the institution has undergone a fundamental transformation. It used to be much like the Bundesbank,...

Read More »

Why Australian banks remain stable?

Apart from Canada, Australia also seems to be a country with fairly stable banking system. In a speech, Jonathan Kearns, Head of Financial Stability at RBA points to this remarkable history: Australian banks in particular serve critical functions in the Australian economy by providing credit intermediation and more generally facilitating economic activity. Australian banks are profitable and resilient and a strong banking sector has contributed to Australia’s extended run of economic...

Read More »

U.S. Regulations and Approaches to Cryptocurrencies: Drawing lessons from history

Most major countries are talking about digital currencies barring US. Interesting speech by Michael Held of NY Fed who reviews existing regulations in US regarding digital currencies: Thank you, Diego, for “volunteering” me to speak about digital currencies—a field in which I count myself as very much a trainee, not an expert. Today I will focus on the U.S. regulatory landscape for digital currencies, in particular on digital currencies issued by private organizations that are intended...

Read More »

Time for e-Euro?

I have just recently written for Moneycontrol on how European central bankers particularly French are really keen on introducing a central bank digital currency. Christine Lagarde (who is French!), recently appointed at helm of ECB in her first hearing at the European Parliament interestingly spoke on CBDC: The other topic you have asked me to discuss today is the future of money. Indeed, as central banks navigate a complex and changing landscape, we should not only aim to anticipate...

Read More »

Contemplations of an interest-rate dove and inflation hawk

Interesting title of an interesting speech by Per Jansson, DG of Riksbank. He says he is a combination of inflation hawk and interest rate dove! Those who follow the media reporting on monetary policy have probably noted that I have been considered the most dovish member of the Riksbank’s Executive Board for some time. By this, I mean that I am considered to be the one who, at least for the time being, is inclined to conduct the most expansionary policy. For anyone unfamiliar with the...

Read More »

Risks and benefits of modern financial technology: Lessons from a 17th century stablecoin

Nice speech by Klaas Knot of Netherlands central bank. He points how Bank of Amsterdam was doing similar things as today’s proposals for stablecoin: Monetary history is rife with examples of innovations that challenged the status quo. The Bank of Amsterdam did exactly that in the early 17th century. In fact, a forthcoming research paper by the Bank of International Settlements and De Nederlandsche Bank considers the Bank of Amsterdam as an early instance of a stablecoin provider: an...

Read More »

Economics as a profession: from science to practice

Benoît Cœuré of ECB in this speech: It is a true pleasure to be back here at the Paris School of Economics (PSE). You are now on the home stretch. I well remember how I felt during my own final year: excited, anxious and curious all at once. Over the next few months, you will need to take serious, life-changing decisions. The data suggest there is about a two-in-three chance that you will pursue further studies. For many, a master’s degree is a natural step towards a PhD. And a PhD is...

Read More »