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Research
06 Oct

Benchmark tipping in the global bond market (Working Paper)

We analyse the turnover of fixed income derivatives in seven currencies to test the hypothesis that market participants increasingly use contracts based on private rather than government rates to hedge and to take positions. In the US dollar money market ...

25 Sep

Developing an underlying inflation gauge for China (Working Paper)

The headline consumer price inflation (CPI) is often considered too noisy, narrowly defined, and/or slowly available for policymaking. On the other hand, traditional core inflation measures may ...

25 Sep

Decaying expectations: what inflation forecasts tell us about the anchoring of inflation expectations (Working Paper)

Well anchored inflation expectations are considered to be a reflection of credible monetary policy. In the past, anchoring has been assessed using either long-run inflation surveys or break-even inflation ...

 24 Sep

Re-thinking the lender of last resort (BIS Papers)

The lender of last resort (LOLR) is perhaps the most controversial role of a central bank. On the one hand, providing emergency liquidity assistance to financial institutions is a core central bank responsibility, given its unique ability to create liquid assets in the form of ...

 14 Sep

BIS Quarterly Review September 2014 – International banking and financial market developments . In this issue:

  1. Asset managers in emerging market economies
  2. Risks related to EME corporate balance sheets: the role of leverage and currency mismatch
  3. Cross-border bank lending during the taper tantrum: the role of emerging market fundamentals
  4. Residential property price statistics across the globe

 10 Sep

Monetary analysis and the global financial cycle: an Asian central bank perspective (Working Paper)

EM Asia has seen a transformation of its monetary policy environment over the past 2 decades. By far, the most relevant change has been the maturing of its financial systems and the growing relevance of the global financial cycle: financial inclusion has ...

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Speeches
Central bankers' speeches
07 Oct
06 Oct
03 Oct
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BIS Management speeches
12 Sep

by Hervé Hannoun: Opening remarks - Seventh Irving Fisher Committee Conference on Central Bank Statistics

The focus of today's conference is particularly apt: "Indicators to support Monetary and Financial Stability Analysis: Data Sources and Statistical Methodologies"...

13 Aug

by Claudio Borio: Macroprudential frameworks: (too) great expectations?

Macroprudential frameworks are a welcome response to the Great Financial Crisis. As long argued by the BIS, a stronger systemic orientation is essential if financial stability is to be assured...

29 Jun

by Jaime Caruana: General Manager's speech: Stepping out of the shadow of the crisis: three transitions for the world economy

This year's Annual Report offers our views on current challenges and aims to examine policies that might help us step out of the long shadow of the crisis. Our approach...

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06 Jun

by Jaime Caruana: Redesigning the central bank for financial stability responsibilities

Central banks are being redesigned to better deal with their financial stability responsibilities - in just five years, over 60 central banks' laws have been changed...

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