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Bank of Japan’s Monetary Easing in an Inflationary Environment and New Governor’s Challenges
Sayuri ShiraiDuring the inaugural press conference held on April 10th at the Bank of Japan (BOJ), Governor Kazuo Ueda affirmed the commitment to achieving the 2% price stability target, which was clarified in January 2013 in the joint...
Is a national currency necessary?
William A. AllenHaving a national currency can make it easier to pursue national economic objectives. It can also be useful in dealing with emergencies, and it protects citizens from possible problems in being forced to use foreign...
Long-term impacts of COVID-19 vs. financial system stability
Jacek OsińskiSome economic consequences of the COVID-19 pandemic may also be experienced long after it has ended. What long-term effects of COVID-19 could pose risks to the stability of the financial system in the future?
Between Tel-Aviv and Jerusalem, with shekels in your wallet
Paweł KowalewskiMost often we get to hear about the dollar, the euro or the Swiss franc. The pound will get a mention now and then, and sometimes the yen. The press often reports on emerging currencies, such as the Turkish lira, the Russian...
Experiences with conversion of loans denominated in Swiss francs
Paweł GąsiorowskiIs it necessary for central banks to support conversion of Swiss franc-denominated loans? Hungary, Croatia, and Romania all have different experiences in this regard. The outcomes observed in these countries show that...
Interview with Stefan Ingves, Governor of Sveriges Riksbank
Piotr SzpunarPiotr Szpunar, Director of the Economic Analysis Department at NBP, interviews Stefan Ingves, the Governor of Sveriges Riksbank, for the NBP Obserwator Finansowy:
Ukraine: living on borrowed money
Michał KozakNext year Ukraine will have to incur a huge debt in order to make ends meet. However, there are fewer and fewer creditors willing to provide it with the necessary financing. In the draft budget for 2021 the Ukrainian...
The market is ruled by narratives
Maciej JaszczukThe markets are efficient over the long term, and because of that the stock market can serve as a barometer of the situation in the economy – provided that it accurately reflects its structure. However, sometimes the...
Russian central bank after (some) dirty money
Filip BrokešBank of Russia, the country’s central bank and key financial regulator, wants to change Russia’s anti-money laundering laws in order to have more decision-making power over which companies can be deemed risky from a...
Gold is back in favor
Piotr RosikGold has once again become a safe haven for investors. However, a return to the gold standard is a scenario that is unlikely to materialize – says Krishan Gopaul, Market Intelligence Analyst at the World Gold Council...