ECB must future-proof monetary policy, Net-zero central banking gathers momentum, and more
Latest opinion and analysis from OMFIF around the world
12-16 April 2021, Vol.12 Ed.15
ECB must future-proof monetary policy: Later this year, the European Central Bank will conclude its first strategy review since 2003. The ECB needs to future-proof itself and ensure its monetary policy framework can deliver for the currency union over the coming decades. But even if life can approach something close to ‘normal’ by the end of the year, in a monetary policy context, it is hardly the kind of normality which makes life easy for the ECB, writes Hani Kablawi.
Net-zero central banking gathers momentum: The core responsibility for delivering net-zero rests with governments. But action by central banks and supervisors is required to complement these policy reforms so that the financial system allocates the capital needed for net-zero at speed and as smoothly as possible, write Nick Robins, Simon Dikau and Ulrich Volz.
In conversation with Kevin Stiroh: Kevin Stiroh, senior adviser in the supervision division at the Federal Reserve, discusses the Fed’s supervision climate committee and its work to mitigate climate-related financial risk. He lays out efforts to build coordination with national and international bodies, as well as challenges around data modelling climate-related risk and developing scenario analysis tools. Watch.
Public versus private blockchains: Bhavin Patel, head of fintech research at OMFIF, is joined by Pietro Grassano, business solutions director at Algorand, to discuss the core differences between public and private blockchains. They distinguish between the definitions, properties, as well as the advantages and disadvantage of both types of networks.
Germany’s Greens to benefit from CDU/CSU woes: Germany’s Green party seems likely to benefit most from squabbling over Chancellor Angela Merkel’s succession among ruling conservative parties – with far-reaching consequences for Europe, including the European Central Bank’s monetary and climate policies, writes David Marsh.