Claudio

Claudio Borio

Head of the Monetary and Economic Department
Monetary and Economic Department

Claudio Borio was appointed Head of the Monetary and Economic Department on 18 November 2013.
At the BIS since 1987, Mr Borio has held various positions in the Monetary and Economic Department (MED), including Deputy Head of MED and Director of Research and Statistics as well as Head of Secretariat for the Committee on the Global Financial System and the Gold and Foreign Exchange Committee (now the Markets Committee). From 1985 to 1987, he was an economist at the OECD, working in the country studies branch of the Economics and Statistics Department. Prior to that, he was Lecturer and Research Fellow at Brasenose College, Oxford University. He holds a DPhil and an MPhil in Economics and a BA in Politics, Philosophy and Economics from the same university. Claudio is author of numerous publications in the fields of monetary policy, banking, finance and issues related to financial stability.

Fields of interest

  • Monetary economics and policy
  • Financial stability
  • Banking and finance

Date BIS research papers
Oct 2016

The failure of covered interest parity: FX hedging demand and costly balance sheets

BIS Working Papers No 590

Other authors: Vladyslav Sushko, Robert Neil McCauley and Patrick McGuire

Sep 2016

Covered interest parity lost: understanding the cross-currency basis

BIS Quarterly Review September 2016

Other authors: Robert Neil McCauley, Patrick McGuire and Vladyslav Sushko

Jul 2016

Unconventional monetary policies: a re-appraisal

BIS Working Papers No 570

Other authors: Anna Zabai

Jul 2016

Monetary policy, the financial cycle and ultra-low interest rates

BIS Working Papers No 569

Other authors: Mikael Juselius, Piti Disyatat and Mathias Drehmann

Mar 2016

Fiscal sustainability and the financial cycle

BIS Working Papers No 552

Other authors: Marco Jacopo Lombardi and Fabrizio Zampolli

Jan 2016

Labour reallocation and productivity dynamics: financial causes, real consequences

BIS Working Papers No 534

Other authors: Enisse Kharroubi, Christian Upper and Fabrizio Zampolli

Oct 2015

Capital flows and the current account: Taking financing (more) seriously

BIS Working Papers No 525

Other authors: Piti Disyatat

Oct 2015

The influence of monetary policy on bank profitability

BIS Working Papers No 514

Other authors: Leonardo Gambacorta and Boris Hofmann

Mar 2015

The costs of deflations: a historical perspective

BIS Quarterly Review March 2015

Other authors: Magdalena Erdem, Andrew Filardo and Boris Hofmann

Aug 2014

The international monetary and financial system: a capital account historical perspective

BIS Working Papers No 457

Other authors: Harold James and Hyun Song Shin

Date Speeches
28 Nov 2016

The banking industry: struggling to move on

Keynote speech by Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the Fifth EBA Research Workshop on "Competition in banking: implications for financial regulation and supervision", London, 28-29 November 2016.

14 Sep 2016

Towards a financial stability-oriented monetary policy framework?

Presentation by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the "Central banking in times of change" - conference on the occasion of the 200th anniversary of the Central Bank of the Republic of Austria, Vienna, 13-14 September 2016.

06 Sep 2016

"Helicopter money" - reality bites

Commentary by Mr Claudio Borio, Head of the Monetary and Economic Department of the Bank for International Settlements, and Mr Piti Disyatat, Executive Director of the Puey Ungphakorn Institute for Economic Research, Bank of Thailand, in Nikkei Asian Review, published on 4 September 2016.

26 Jun 2016

Towards financial stability-oriented monetary policy? Some evidence

Presentation on the BIS Annual Report by Mr Claudio Borio, Head of the Monetary and Economic Department, on the occasion of the Bank's Annual General Meeting, Basel, 26 June 2016.

10 May 2016

More pluralism, more stability?

Presentation by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the Seventh high-level SNB-IMF conference on the international monetary system, Zurich, 10 May 2016.

10 Feb 2016

The movie plays on: a lens for viewing the global economy

Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the FT Debt Capital Markets Outlook, London, 10 February 2016.

03 Feb 2016

Seven don'ts and one hope: The nexus between prudential and monetary policies

Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the SUERF-Deutsche Bundesbank-IMFS Conference  on "SSM at 1", Frankfurt, 3-4 February 2016.

24 Nov 2015

Macroprudential policies: What have we learnt?

Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the Bank of Italy Conference "Micro and Macroprudential Banking Supervision in the Euro Area", Università Cattolica del Sacro Cuore, Milan, 24 November 2015.

12 Nov 2015

Revisiting three intellectual pillars of monetary policy received wisdom

Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the Cato Institute, Washington, DC, 12 November 2015.

09 Nov 2015

Economic Forum: Policy Lessons and the Future of Unconventional Monetary Policy

Panel with Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the Sixteenth Jacques Polak Annual Research Conference: "Unconventional Monetary and Exchange Rate Policies", Washington, DC, 5-6 November 2015.