In need of further thinking
Andrew Bailey argues that modern central bank independence is well-defined for monetary policy but incomplete, and highlights the challenges for a central bank’s financial stability mandate
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Central banks
Global challenges and expectations
Andrew Bailey reflects on the role that public institutions have played over the last eighty years. As these institutions continue to face challenge to their legitimacy there is a need to reinforce these institutions and their governance in terms of accountability
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The leading challenges facing central bankers
Monetary policy is being eased as inflation falls. Christopher Waller considers the geopolitical risks that will remain a challenge for central bankers in 2025
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Engaging with the machine
AI is being used for a wide and increasing range of applications in financial services. Sarah Breeden explores the novel features of Generative AI and how we can uphold financial stability whilst harnessing its potential benefits for economic growth
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The effectiveness of monetary policy
Amr Saber Algarhi and Konstantinos Lagos describe how the Jackson Hole symposium, a meeting of bankers in a remote Wyoming valley, could have consequences for us all
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When AI becomes a central banker
There are efficiency and cost benefits in using AI. Jon Danielsson discusses what tasks can safely be outsourced to AI and what needs to stay in the hands of human decision makers
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A time for resolve and realism
Agustín Carstens says with the global economy at a critical juncture, it is a time for resolute and realistic policy
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Climate change and financial stability
Christopher Waller explores financial risks associated with climate change, and cast doubt on the need for special focus on how banks are preparing for climate change risks
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Economic uncertainty creating difficulty for central banks
Francesco Papadia says regaining price stability is difficult but doable, but the bigger problem facing central banks is economic uncertainty, not managing the trilemma
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