How central bankers speak about climate and what this means for financial markets

Central banks have increasingly engaged with climate-related topics in their public communication, but little is known about the drivers and effects of this shift. This

The post-pandemic disinflation: Low sacrifice, high prices

By some criteria, the post-pandemic disinflation was a triumph for central banks in advanced economies: inflation fell sharply from 40-year highs while unemployment rates remained

Macroprudential policy for banks: Build the countercyclical capital buffer when there is headroom for doing so

Numerous central banks started to build the countercyclical capital buffer as bank profitability began to soar during the recent tightening cycle. Recent evidence suggests that

Beyond words: Fed chair voice sentiments and US bank stock price crash risk

Investors and policymakers increasingly rely on verbal guidance rather than policy moves. This column examines whether the emotional sentiment of the chair of the Federal