BISness

Holti Banka, a Senior Financial Sector Specialist at the World Bank, tackles the intriguing relationship between fast payments and central bank digital currencies (CBDCs). He highlights how these two systems can either clash or collaborate. The discussion reveals their shared goals and distinct impacts on policy. They delve into the research on retail CBDCs and fast payments, exploring implementation challenges and the crucial role of central banks. The conversation wraps up with insights into future innovations, emphasizing regulatory needs and cross-border interoperability.

Bank of France Governor François Villeroy de Galhau, Bank of Japan Governor Kazuo Ueda, Bank of Spain Governor José Luis Escrivá and European Central Bank President Christine Lagarde discuss the implications of climate change for the real economy and central banks. Link to event page: https://www.bis.org/events/green_swan_2024/overview.htm

Deniz Igan explains the drivers and implications of the strong growth of housing costs despite a decline in inflation.

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

Andreas Schrimpf and Vladyslav Sushko explain the drivers and implications of the unwinding of carry trades, which were associated with financial market turbulence in August 2024.

Agustín Carstens outlines the ideal policy constellation for the fastest growth with the lowest inflation and issues a call to action for governments.

Claudio Borio delves into the lessons learned from the past 25 years in monetary policy, emphasizing the need for a comprehensive macro-financial stability framework. He discusses the challenges faced by central banks in communication, forecasting inflation, and using macroprudential measures for financial system stability. The podcast explores possible refinements in monetary policy frameworks for price and financial stability through considerations like robustness and nimbleness.

Hyun Song Shin discusses the benefits and challenges of AI for central banks. Topics include AI advancements in processing unstructured data, implications for the financial sector, tools for economic assessments, and AI's impact on productivity and the labor market.

Financial Stability Institute Senior Advisors Johannes Ehrentraud and Raihan Zamil discuss regulating non-bank financial intermediaries, focusing on defining NBFIs as retail lenders, challenges in regulatory frameworks, and the importance of prudential oversight for financial stability amidst evolving business practices.

BIS General Manager Agustín Carstens and Siddharth Shetty, from the Foundation for Interoperable Digital Economy, discuss a vision of multiple interconnected financial ecosystems designed to empower individuals and firms, the Finternet, at the BIS Innovation Summit 2024.