Claudio Borio

Former Head of the Monetary and Economic Department

All BIS publications (94)

BIS Working Paper No 859 23 Apr 2020

Post-crisis international financial regulatory reforms: a primer

This paper reviews post-crisis financial regulatory reforms, examines how they fit together and identifies open issues…

Claudio Borio

Marc Farag

and

Nikola Tarashev

FSI Briefs No 1 15 Apr 2020

Reflections on regulatory responses to the Covid-19 pandemic

FSI Briefs No 1, April 2020. Regulatory policy responses should seek to support economic activity while preserving the…

Claudio Borio

and

Fernando Restoy

BIS Working Paper No 829 17 Dec 2019

Central banking in challenging times

Since the Great Financial Crisis, central banks have been facing a triple challenge: economic, intellectual and institutional…

Claudio Borio

BIS Working Paper No 818 11 Oct 2019

Predicting recessions: financial cycle versus term spread

Financial cycles can be important drivers of real activity, but there is scant evidence about how well they signal recession…

Claudio Borio

Mathias Drehmann

and

Dora Xia

BIS Working Paper No 817 3 Oct 2019

Monetary policy hysteresis and the financial cycle

A long tradition of macroeconomic analysis accords monetary policy only a transient role in driving real outcomes. At the same…

Phurichai Rungcharoenkitkul

Claudio Borio

and

Piti Disyatat

BIS Working Paper No 807 30 Aug 2019

Bank intermediation activity in a low interest rate environment

This paper investigates how the prolonged period of low interest rates affects bank intermediation activity. We use data for…

Michael Brei

Claudio Borio

and

Leonardo Gambacorta

BIS Working Paper No 777 26 Mar 2019

What anchors for the natural rate of interest?

We examine the prevailing view that only saving and investment drivers influence the long-term evolution of real, or inflation…

Claudio Borio

Piti Disyatat

and

Phurichai Rungcharoenkitkul

BIS Working Paper No 763 11 Jan 2019

On money, debt, trust and central banking

The paper discusses the properties of a well functioning monetary system, in both its day-to-day operation and the longer run…

Claudio Borio

Publication 16 Dec 2018

The financial cycle and recession risk

Financial cycle booms can end in crises and, even if they do not, they tend to weaken growth. Given their slow build-up, do…

Claudio Borio

Mathias Drehmann

and

Dora Xia

and

Phurichai Rungcharoenkitkul

External publication 1 Dec 2020

Forecasting recessions: the importance of the financial cycle

Claudio Borio

Mathias Drehmann

and

Dora Xia

External publication 1 Feb 2020

Bank intermediation activity in a low interest rate environment

Claudio Borio

Leonardo Gambacorta

and

Michael Brei

External publication 10 Dec 2019

Discussion of the paper "EU response to the financial crisis and the economic recession" by M Marchesi and Nava

Claudio Borio

External publication 30 Oct 2019

A blind spot in today's macroeconomics?

Claudio Borio

External publication 1 May 2019

On money, debt, trust and central banking

Claudio Borio

External publication 21 Mar 2019

New loan provisioning standards and procyclicality

Claudio Borio

All speeches (76)

Speech 9 Apr 2015

The international monetary and financial system: Its Achilles heel and what to do about it

Presentation by Mr Claudio Borio, Head of Monetary and Economic Department of the BIS, at the INET conference "New Economic…

Claudio Borio

Speech 13 Aug 2014

Macroprudential frameworks: (too) great expectations?

Contribution by Mr Claudio Borio, Head of the Monetary and Economic Department of the Bank for International Settlements, to…

Claudio Borio

Speech 29 Jun 2014

The financial cycle, the debt trap and secular stagnation

Presentation by Claudio Borio, Head of the Monetary and Economic Department, on the occasion of the Bank's Annual General…

Claudio Borio

Speech 9 Nov 2012

On time, stocks and flows: Understanding the global macroeconomic challenges

Essay prepared for a lecture by Claudio Borio, Deputy Head of Monetary and Economic Department and Director of Research and…

Claudio Borio

All videos (80)

00:46:15

Media briefing on the BIS Quarterly Review, December 2024

Video 9 Dec 2024

Media briefing on the BIS Quarterly Review, December 2024

Claudio Borio and Hyun Song Shin summarise the December 2024 Quarterly Review and answer journalists' questions about financial…

Claudio Borio

and

Hyun Song Shin

00:35:44

Media briefing on the BIS Quarterly Review, September 2024

Video 16 Sep 2024

Media briefing on the BIS Quarterly Review, September 2024

Claudio Borio and Hyun Song Shin summarise the September 2024 Quarterly Review and answer journalists' questions about…

Claudio Borio

and

Hyun Song Shin

04:33:40

Session 1: Economic Policies in a World of Global Shocks

Video 3 Sep 2024

Session 1: Economic Policies in a World of Global Shocks

(Mr Borio starts at 02:07:25) Claudio Borio focuses on the relationship between monetary and fiscal policy; medium-to-long…

Claudio Borio

01:27:29

Panel 2: Drivers of equilibrium interest rates

Video 3 Jul 2024

Panel 2: Drivers of equilibrium interest rates

Claudio Borio argues that the natural rate of interest is not a helpful compass for monetary policy. In fact, a more useful…

Claudio Borio

00:02:14

Monetary policy in the 21st century

Video 30 Jun 2024

Monetary policy in the 21st century

The extraordinary events of the past 25 years, including major financial crises, the pandemic and an unexpected surge in…

Claudio Borio

00:19:36

Monetary policy in the 21st century: lessons learned and challenges ahead

Video 30 Jun 2024

Monetary policy in the 21st century: lessons learned and challenges ahead

Speech by Mr Claudio Borio, Head of the Monetary and Economic Department, on the occasion of the Bank's Annual General Meeting,…

Claudio Borio

01:08:22

BIS Media Briefing - Annual Economic Report 2024

Video 27 Jun 2024

BIS Media Briefing - Annual Economic Report 2024

Agustín Carstens, Andréa M Maechler, Claudio Borio and Hyun Song Shin brief the media on the main messages of the Annual…

Claudio Borio

Hyun Song Shin

Agustín Carstens

and

Andréa M Maechler

00:38:55

Update on the history of Basel II

Video 24 Apr 2024

Update on the history of Basel II

50 years of global supervisory cooperation.

Claudio Borio

Charles Goodhart

Harold James

and

Stefano Ugolini

00:34:08

Media briefing on the BIS Quarterly Review, March 2024

Video 4 Mar 2024

Media briefing on the BIS Quarterly Review, March 2024

Claudio Borio and Hyun Song Shin summarise the March 2024 Quarterly Review and answer journalists' questions about financial…

Claudio Borio

and

Hyun Song Shin

All podcasts (17)

00:39:50

Podcast 24 Feb 2023

Media briefing on the BIS Quarterly Review, March 2023

Claudio Borio and Hyun Song Shin summarize the March 2023 Quarterly Review and answer journalists' questions about market…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

Podcast 2 Dec 2022

Persistent risks in foreign exchange trades, hidden dollar debt

Claudio Borio and Hyun Song Shin brief the media on the key takeaways of the BIS December 2022 Quarterly Review and answer…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

00:23:30

Podcast 19 Sep 2022

Markets swing on changing perceptions of the policy outlook: BIS Quarterly Review

Claudio Borio and Hyun Song Shin summarize the September 2022 Quarterly Review and answer journalists' questions about market…

Claudio Borio

and

Hyun Song Shin

0:00 0:00

00:13:10

Podcast 26 Jun 2022

Inflation: looking under the hood

The recent surge in inflation has underscored the need to "look under the hood" to better understand how relative price changes…

Claudio Borio

0:00 0:00

00:10:07

Podcast 29 Jun 2021

The distributional footprint of monetary policy

Claudio Borio discusses the nexus between inequality and monetary policy, as outlined in Chapter II of the BIS Annual Economic…

Claudio Borio

0:00 0:00

21:23:00

Podcast 30 Jun 2020

The central bank response to the Covid-19 crisis

Agustin Carstens discusses the monetary and fiscal response to the Covid-19 pandemic and the challenges facing central banks…

Claudio Borio

and

Agustín Carstens

0:00 0:00

00:09:42

Podcast 22 Sep 2019

Markets swing on trade and monetary policy

Claudio Borio sat down on 19 Sept to discuss the Bank for International Settlements' latest Quarterly Review, which tells a…

Claudio Borio

0:00 0:00

00:08:39

Podcast 30 Jun 2019

Monetary policy frameworks in emerging markets

Claudio Borio explains the particular challenges for emerging market central banks in setting monetary policy and the multiple…

Claudio Borio

0:00 0:00

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Claudio Borio

Former Head of the Monetary and Economic Department

All BIS publications (94)

Post-crisis international financial regulatory reforms: a primer

Reflections on regulatory responses to the Covid-19 pandemic

Central banking in challenging times

Predicting recessions: financial cycle versus term spread

Monetary policy hysteresis and the financial cycle

Bank intermediation activity in a low interest rate environment

What anchors for the natural rate of interest?

On money, debt, trust and central banking

The financial cycle and recession risk

All external publications (130)

Central banks and the Covid-19 economic crisis

Is inflation dead or hibernating?

The long shadow of monetary policy

Forecasting recessions: the importance of the financial cycle

Bank intermediation activity in a low interest rate environment

Discussion of the paper "EU response to the financial crisis and the economic recession" by M Marchesi and Nava

A blind spot in today's macroeconomics?

On money, debt, trust and central banking

New loan provisioning standards and procyclicality

All speeches (76)

The international monetary and financial system: Its Achilles heel and what to do about it

Macroprudential frameworks: (too) great expectations?

The financial cycle, the debt trap and secular stagnation

On time, stocks and flows: Understanding the global macroeconomic challenges

All videos (80)

Media briefing on the BIS Quarterly Review, December 2024

Media briefing on the BIS Quarterly Review, September 2024

Session 1: Economic Policies in a World of Global Shocks

Panel 2: Drivers of equilibrium interest rates

Monetary policy in the 21st century

Monetary policy in the 21st century: lessons learned and challenges ahead

BIS Media Briefing - Annual Economic Report 2024

Update on the history of Basel II

Media briefing on the BIS Quarterly Review, March 2024

All podcasts (17)

Media briefing on the BIS Quarterly Review, March 2023

Persistent risks in foreign exchange trades, hidden dollar debt

Markets swing on changing perceptions of the policy outlook: BIS Quarterly Review

Inflation: looking under the hood

The distributional footprint of monetary policy

The central bank response to the Covid-19 crisis

Markets swing on trade and monetary policy

Monetary policy frameworks in emerging markets

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