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October 3, 2019

Eurozone
The Role of the European Central Bank

As Europe has weathered a succession of economic crises, the European Central Bank has responded with an aggressive set of monetary policies that have redefined the bank’s original mandate.

Workers repair the euro sign in front of ECB headquarters

November 5, 2019

Global
Central Bank Currency Swaps Tracker

Introduction Since the financial crisis of 2007, central banks around the world have entered into a multitude of bilateral currency swap agreements with one another. These agreements allow a centr…

May 20, 2011

Europe and Eurasia
Is the ECB Draining its own Powers?

Back in 2000, the European Central Bank’s first president, Wim Duisenberg, explained how he knew the Bank’s operational framework for implementing monetary policy was working well.  It was, he said…

Is the ECB Draining its own Powers?

December 4, 2015

Europe
ECB and the Limits of QE

Markets were clearly underwhelmed by the European Central Bank’s (ECB) easing announcement yesterday, marginally cutting its (already negative) deposit rate and extending the duration of its asset pu…

October 31, 2014

Europe
Three Central Banks

Today’s central bank news tells us a lot about the risks and rewards of proactive central banking. The Bank of Japan (BoJ) surprised me (and nearly everyone else ) with a dramatic expansion of its u…

December 3, 2015

Europe
European Central Bank Rate Move, a Turning Point for Europe

At the governing council’s meeting today, the European Central Bank (ECB) announced that it will cut benchmark deposit rate to -0.3 percent, extend its quantitative easing (QE) program to at least Ma…

Central bank rates in Europe

November 21, 2013

Europe and Eurasia
Europe 2014: An Outlook from the European Central Bank

Jörg Asmussen reflects on the European Central Bank's role in overcoming the eurozone crisis and the economic challenges for Europe ahead in 2014.

Play

September 11, 2019

International Economic Policy
Are Asian Insurers the New European Banks?

It is hard to understand the global flow of funds without understanding the risks now being taken by Japanese, Taiwanese, and Korean life insurers.

Are Asian Insurers the New European Banks?

March 19, 2020

European Union
How Does the European Union Work?

The European Union has navigated a thicket of external and internal crises in recent years, including mass migration and Brexit. What are the union’s core institutions, and what roles do they play?

The chamber of the European Parliament during a voting session at the EU parliament's headquarters in Strasbourg..

March 17, 2020

International Economic Policy
Addressing the Global Dollar Shortage: More Swap Lines? A New Fed Repo Facility for Central Banks? More IMF Lending?

There is a global scramble for dollars going on. It needs to be addressed through creative policies.

FILE PHOTO: One hundred dollar notes are seen in this photo illustration at a bank in Seoul January 9, 2013.