Towards a digital capital markets union
Piero Cipollone argues that recent advancements in digital technology offer an opportunity to create an integrated European capital market for digital assets
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CENTRAL BANK VIEWS
Read what central bankers believe on the global economy, climate change, fintech, economics, and CBDCs and digital money
Sustainable finance: from ‘eureka!’ to action
Climate and nature-related risks are significant financial risks. Frank Elderson argues that they therefore fall within the respective mandates of central banks and supervisors – to preserve price stability and ensure the safety and soundness of banks
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Bridging the gap: reviving the euro area’s productivity growth
Innovation, investment and integration. Luis de Guindos discusses the revival of productivity growth in the euro area – a critical challenge that demands urgent attention and collective action
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Measuring economic losses caused by climate change
Extreme weather events are bringing devastating consequences for an increasing number of people. Senne Aerts, Livio Stracca and Agnieszka Trzcinska highlight the uncertainties and the importance of continued dialogue to refine our understanding of climate-induced economic losses
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Deconstructing global trade: the role of geopolitical alignment
Globalisation is threatened as countries impose trade restrictions, especially against trading partners with large geopolitical differences. Han Qiu, Dora Xia and James Yetman gauge the impact of this development on trade flows
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Setbacks and strides forward: structural shifts and monetary policy in the twenties
The global economy is facing rifts comparable to the pressures that resulted in ‘economic nationalism, a collapse in global trade and the Great Depression of the 1920s, Christine Lagarde warns
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A balanced approach to finishing Basel 3.1 in the UK
The Prudential Regulation Authority has published its near-final Basel 3.1 rules. Phil Evans explains why the package of reforms is needed, arguing it supports the UK’s growth, competitiveness and the resilience of the banking system
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The next steps on bank capital requirements
Bank capital is a key component of the financial system. Michael Barr outlines a sweeping overhaul easing two major draft bank capital rules
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Pandemic-related economic distortions are fading
Jerome Powell addresses the current economic situation and the path ahead for monetary policy, discussing economic events since the pandemic and exploring why inflation rose to levels not seen in a generation
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Reflecting on recent challenging times
Policymakers’ responses to global events have laid bare the challenges and trade-offs inherent in addressing monetary policy and financial stability shocks. Andrew Bailey discusses what lessons can be learnt
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