The Basel Committee at 50; listen to Chair Pablo Hernández de Cos and Secretary General Neil Esho discuss the Committee’s work – past, present and future, as well as the International Conference of Banking Supervisors. 

Cecilia Skingsley and Hyun Song Shin explain the BIS’s new project to test the tokenization of commercial and central bank money, in association with seven central banks.

Roberto Campos Neto, Governor of the Central Bank of Brazil, talks to Alexandre Tombini, Chief Representative for the BIS Office for the Americas, about past challenges for the central bank and future priorities, including instant payments and financial inclusion.

Should central banks worry about women’s level of participation in the economy and the economic profession? Rosanna Costa, President of the Central Bank of Chile talks to Alexandre Tombini, Chief Representative for the BIS Office for the Americas about why they should, while also sharing some highlights on Chile’s current macroeconomic situation.

Claudio Borio and Hyun Song Shin summarise the March 2024 Quarterly Review and answer journalists' questions about financial market developments and the economic outlook.

Central banks were early adopters of AI and machine learning. But as the world ramps up efforts to embrace new technologies, what does this mean for central banks? How can they stay ahead of the curve? Sebastian Doerr and Douglas Araujo discuss the findings of a BIS Bulletin on AI applications in central banking and the challenges that central banks might face in the future in this area.

What role have central banks played in bringing down inflation? 2023 has seen central banks across the globe respond forcefully to the recent rise in inflation. But given that much of this increase was due to sectoral shocks, what can monetary policy do to counter it? Benoit Mojon explains the findings of a new BIS Bulletin on monetary policy and disinflation, co-authored with other BIS economists.

Artificial intelligence is on everyone’s minds these days. Many are predicting a period of upheaval ahead, while others believe it will be beneficial to economic growth and productivity. But how will all this impact the richest and poorest in society? Jon Frost, Head of Economics for the Americas, and Giulio Cornelli, Senior Financial Market Analyst, shed some light on this question, drawing from their recent research paper Artificial intelligence, services globalisation and income...

Claudio Borio and Hyun Song Shin summarise the December 2023 Quarterly Review and answer journalists’ questions about financial market developments and the economic outlook.

Which trends might shape Asia’s economic outlook? Which challenges do emerging markets currently face? Hong Kong Monetary Authority (HKMA) Chief Executive Eddie Yue discusses these questions with Chief Representative of Office for Asia and the Pacific, Tao Zhang. The HKMA has been a member of the BIS for over 25 years. Chief Executive Yue also spoke about the evolution of this relationship and about what developments such as digital innovation and climate change might mean for Hong Kong SAR...

Do stablecoins live up to their name and can they serve as a reliable means of payment and store of value? Senior Economist Anneke Kosse discusses these questions based on the BIS paper “Will the real stablecoin please stand up?” She also highlights how significant data gaps regarding the users and uses of stablecoins make it difficult to ascertain the risks they pose to the smooth functioning of payment systems and financial stability.

Claudio Borio and Hyun Song Shin summarise the September 2023 Quarterly Review and answer journalists’ questions about financial market developments and the economic outlook.

The last mile to price stability will be most challenging, says Agustín Carstens, discussing the risks to the global economy laid out in the BIS Annual Economic Report.

Claudio Borio offers a historic perspective on the interaction of fiscal and monetary policy to better understand the challenges facing the global economy today, and draw some lessons for the future. Read more.

Hyun Song Shin explains the main elements of the unified ledger and how tokenisation can be a game changer for the monetary system. Read more. 

Over the past 40 years, income inequality within countries has risen inexorably. A book by BIS authors explains why this has profound implications for the design of macroeconomic stabilisation policies.

In a speech, Agustín Carstens argues that central banks need to think big to reap the greatest benefits from innovation. He discusses the options with Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore. Read the speech here: https://www.bis.org/speeches/sp230222.htm

How did the 2022 turmoil in the crypto market affect small, retail investors compared with large or insider investors? Was there any spillover to traditional financial markets?  Jon Frost, Head of Economics for the Americas, and Giulio Cornelli, Senior Financial Market Analyst, provide some answers based on their recent BIS Bulletin Crypto shocks and retail losses, co-authored with Sebastian Doerr and Leonardo Gambacorta. 

Andrew McCormack, Head, BIS Innovation Hub Singapore Centre, discusses Project Nexus, a blueprint for connecting multiple national payment systems into a cross-border network that could enable international payments to happen almost instantaneously. He talks about the successful completion of Phase II, which involved building a working prototype to link three established payment systems, and looks forward to Phase III, which will see five Southeast Asian countries work towards connecting...

Global green financing has grown 100 times over the past decade. And yet, it is still surrounded by considerable controversy – why is it so? Bank of France’s Jean Boissinot – a leading expert of green finance in the central bank community – explains what green finance can (and cannot) do for environmental sustainability. He also highlights the role and achievements of the Network for Greening the Financial System, a group of central banks and supervisors working together on environmental and...

Cecilia Skingsley looks at her first six months as Head of the BIS Innovation Hub, the path of innovation on the public sector and the role of central banks and the private sector in providing financial services in a rapidly changing world. She says that central banks have to follow and understand not only cyclical changes, but also structural changes, which “can be slow and take a long time, such as globalization (…), or be very rapid and disruptive, such as the pandemic.” She also talks...

Claudio Borio and Hyun Song Shin summarize the March 2023 Quarterly Review and answer journalists' questions about market developments and the economic outlook. 

Central banks face difficult trade-offs when deciding the speed and size of interest rate hikes to counter inflation, as well as how long to keep the policy rate at the peak. Egon Zakrajšek, Senior Adviser in the BIS Monetary and Economic Department, discusses the benefits and risks of “front-loading” rate increases, drawing from a recent BIS Bulletin he co-authored with Paolo Cavallino, Giulio Cornelli and Peter Hördahl.

The BIS Innovation Hub is leading practical experiments to show how CBDCs can help deliver faster, cheaper and more transparent cross-border payments. Codruta Boar, advisor at the Innovation Hub, discusses research that she has co-authored with Morten Bech, Daniel Eidan, Philipp Haene, Henry Holden and Wee Kee Toh. Read more: https://www.bis.org/publ/othp51.htm