In this paper, we discuss the evolution of central bank interactions since the early 1970s following the breakdown of the managed exchange-rate system that was negotiated at Bretton Woods. We review the most important forums or organizations through which central banks have engaged in diplomacy....

This paper assesses how globalisation has shaped the economic environment in which the ECB operates and discusses whether this warrants adjustments to the monetary policy strategy. The paper first looks at how trade and financial integration have evolved since the last strategy review in 2003....

This work provides a comprehensive overview of the giant leap made by European central bank statistics over the last quarter century. We illustrate, first, the work that led to a brand-new set of central bank statistics for the implementation of the common monetary policy in the euro area and...

This paper presents the results of a comprehensive survey conducted with 27 European Union (EU) central banks concerning their involvement in ensuring financial stability. The paper also introduces a novel methodology ("Financial Stability Engagement index") to measure central bank involvement...

This article reviews and explains the recent policy reactions of the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan to the financial and macroeconomic turmoil caused by the COVID-19 pandemic. The financial and monetary policy actions of major central banks...

Chapter 1. Introduction -- Chapter 2. From War Financier to Bankers’ Bank -- Chapter 3. Central Banks under the Gold Standard -- Chapter 4. The Federal Reserve: A Unique Institution -- Chapter 5. From War to War: 1914-1939 -- Chapter 6. Post-war Progress: 1946-1960 -- Chapter 7. The 1960s:...

Central banks are major players in today's economic and financial policy making. While respected for their technical acumen and their pivotal role in defusing the global financial crisis, they are at the same time mistrusted by others and considered to be too powerful. In order to contribute to...