
Monetary policy in times of high public debt
High public debt around the globe has revived concerns that it could undo central banks’ ability to control inflation.

High public debt around the globe has revived concerns that it could undo central banks’ ability to control inflation.

Politicians have long pressed central banks for lower interest rates in the belief that easy money wins elections. This

Bankers may benefit from the upside of risk-taking through bonuses, while taxpayers may ultimately bear the costs when things

US Treasuries have long been the benchmark dollar safe asset, and the convenience yield they command is the price

Stablecoins compete with banks for households’ holdings of safe and liquid assets, while creating additional demand for government debt.

Stablecoins could make payments and remittances cheaper and faster, but policymakers worry they could also help residents, particularly in

Imminent ECB Executive Board turnover is a chance to prioritise expertise in appointments, restore staggered terms and rethink policy

Europe’s push for deeper capital markets assumes that cross-border equity ownership matters. This column shows that it does. Euro

International financial integration is often measured through national totals. Yet these totals can conceal very different experiences across firms.

The 20th century shift from sterling to the dollar is often cited as evidence that currency dominance is not

High public debt around the globe has revived concerns that it could undo central banks’ ability to control inflation.

Politicians have long pressed central banks for lower interest rates in the belief that easy money wins elections. This

Bankers may benefit from the upside of risk-taking through bonuses, while taxpayers may ultimately bear the costs when things

US Treasuries have long been the benchmark dollar safe asset, and the convenience yield they command is the price

Stablecoins compete with banks for households’ holdings of safe and liquid assets, while creating additional demand for government debt.

Stablecoins could make payments and remittances cheaper and faster, but policymakers worry they could also help residents, particularly in

Imminent ECB Executive Board turnover is a chance to prioritise expertise in appointments, restore staggered terms and rethink policy

Europe’s push for deeper capital markets assumes that cross-border equity ownership matters. This column shows that it does. Euro

International financial integration is often measured through national totals. Yet these totals can conceal very different experiences across firms.

The 20th century shift from sterling to the dollar is often cited as evidence that currency dominance is not




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