Implications of the Challenges on the Central Banks

Abstract

This chapter first reviews the central banks' two key remits, monetary stability and financial stability, and examines how they will be affected either directly or indirectly by the emerging challenges relating to walled gardens, shadow banking, singleness of the money, customers' data rights, artificial intelligence (AI) ethics, cybersecurity and financial exclusion. This chapter will then review three possible areas of responses that the central banks might take to address the emerging challenges: (1) regulations, (2) promotion of open digital infrastructures and (3) central banks' capabilities upgrade. This chapter will then review possible tools that the central banks might use to implement actions in those three key areas.

Citation

Moenjak, T. (2024), "Implications of the Challenges on the Central Banks", Central Banking at the Frontier, Emerald Publishing Limited, Leeds, pp. 59-79. https://doi.org/10.1108/978-1-83797-130-520241005