Warwick Business School
wbs.ac.uk
Introduction Modern central banks have broad responsibilities to ensure monetary and financial stability. In consequence they have a huge, sometimes dominant impact on financial markets which in turn affects the lives of every citizen. The policy and operational issues arising are explored in detail in the Warwick Business School Global Central Banking & Financial Regulation qualifications , which I contribute to. In this document, we consider five current challenges to central banking which reflect just some of the subject matter of the course. What it illustrates is that central banking is continually evolving to face new challenges as they arise – challenges which are both complex and pervasive! To follow policy development one needs to understand, not just what is being done, but the frameworks within which central banks work and think.
Paul is a British economist who worked for the Bank of England for 26 years, holding senior positions including Executive Director for Markets and Deputy Head of the Prudential Regulation Authority (PRA). He was a member of the Monetary Policy Committee, the Financial Policy Committee and the PRA Board. He now has a portfolio of roles, including as an Advisor to the Bank’s Centre for Central Banking Studies.
Paul Fisher Former Executive Director, Bank of England, and Honorary Professor, Warwick Business School
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