Money matters? Perspectives on Monetary Policy | A blog by Francesco Papadia, providing a personal perspective on monetary policy developments drawing from an experience of 40 years in critical positions in central banking. | Page 2

Recent Posts

A sanctions counter measure: gas payments to Russia in rubles

Francesco Papadia June 23, 2022 0 Comment

Together with Maria Demertzis A requirement for gas to be paid for in rubles is a way for...
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Again on a possible analogy between the Russo-Japanese war of 1904-05 and the Russo-Ukrainian war

Francesco Papadia April 05, 2022 0 Comment

Some of my colleagues at Bruegel have made some comments on my latest post (http://moneymatters-monetarypolicy.eu/history-doesnt-repeat-itself-but-it-often-rhymes/) on the possible...
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History doesn’t repeat itself but it often rhymes

Francesco Papadia April 01, 2022 1 Comment

Andrei Kozyrev, the former foreign Minister of Russia between 1990 and 1996, said in a thread of Tweets...
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Sanctions and the global financial system

Francesco Papadia March 17, 2022 0 Comment

Intervention of Francesco Papadia at a webinar on central bank reserves management March 16 2022 I have chosen...
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Considerations about SWIFT

Francesco Papadia February 28, 2022 0 Comment

Swift has emerged from banks back offices to a debated topic in media and publis discourse. Below are...
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Paying for QE
In my article last week on LDI I predicted that the turmoil in the pension fund sector and the gilt market two months ago would not be the last uncomfortable moment for the authorities. And it already looks as though we can see where the next challenge will come from, as the question of the […]
John Nugée
LDI is just the start
Calm has by and large returned to the pension fund sector after the recent LDI-induced volatility. But it would be a mistake to dismiss the episode as “a minor problem with no wider significance”. Instead it should be seen as a canary in the coal mine, and the first warning signs of two much larger […]
John Nugée
The fall of Liz Truss, and the nature of political authority
Despite its extreme brevity, the ill-starred premiership of Liz Truss is likely to be remembered and talked about more than quite a few other (and by default longer-lasting) tenures at the top. But beyond the inevitable pub quiz questions and cutting epithets (my favourite is "Liz of the Thousand Hours", echoing the excellent 1960s film […]
John Nugée