New digital forms of money have the potential to provide cheaper and faster payments, enhance financial inclusion, improve resilience and competition among payment providers, and facilitate cross-border transfers. […]
The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey. […]
Inequality in both advanced economies and emerging markets has been on the rise in recent decades. The COVID-19 pandemic has exacerbated and raised awareness of disparities between the rich and poor.
Fiscal policies and structural reforms are long known to be powerful mitigators of inequality. But what role can the central bank play?
In new IMF staff research, we find a case for central bankers to take inequality specifically into account when conducting monetary policy.
A new view on monetary policy
Even though inequality remains outside central banks’ mandates, major central […]