Oil
Spain’s GDP growth set to decelerate – central bank
Waning monetary policy impact, higher oil prices and lower regional expansion behind deceleration
SBP devalues rupee again as reserves dwindle
Two years on from its last IMF rescue package, Pakistan is again experiencing balance of payments troubles
Colombia still has room to cut rates if recovery falters – IMF
Fund praises monetary policy regime as factor anchoring inflation expectations
ZLB increases equities-oil correlation – St Louis Fed research
The assets were uncorrelated until late 2008, when Fed took federal funds rate to zero
Oil exporters present higher risk of default, researcher says
Researcher says 27 out of 35 oil-exporting countries defaulted on their debt between 1979 and 2010
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
The IFF China Report 2018: China’s opening-up and reform policy
The experiences of China’s opening-up and reform during the past 40 years, which includes a transition from an agricultural economy to one seeking to offer high-end manufacturing and services, offer valuable lessons to other nations seeking to pursue…
Norwegian governor reflects on investment of oil revenues
A conservative approach allows the country to avoid “Dutch disease” – Olsen
Algerian monetary financing may stoke inflation, warns IMF
In September 2017, Algiers resorted to central bank financing of budget deficits
Norway lowers inflation target and changes policy mandate
The new mandate emphasises the need for high employment and financial stability
Norwegian sovereign wealth fund says 2017 saw third-highest annual returns
NBIM says returns from holdings in oil and gas companies lag those of other sectors
Bank of Korea unveils changes to its DSGE model
The existing model’s accuracy was reduced following structural changes in the economy
Saudi Arabia’s Alkholifey on economic restructuring, reserves and cyber security
The Saudi Arabian Monetary Authority’s governor talks to Christopher Jeffery about the restructuring of the Saudi economy, the impact of low oil prices on reserves and anti-money laundering efforts
Colombia signals end to easing cycle
Despite stronger than expected inflation, board cuts interest rates by 25bp to 4.5%; US policy normalisation and elections could put pressure on the peso in 2018
Commodity price dip ‘likely to persist’ – paper
Bank of Canada research examines how global real economic activity can be used to model commodity prices
Nigerian central bank acts without MPC after quorum failure
Emefiele holds monetary policy steady, and hails continued fall in inflation
Kazakhstan cuts rates on low inflation and weak demand
Central bank reduces key rate to 9.75% from 10.25%, inflation below forecast in 2017
NBIM eyes private equity investment in potential shake-up
Letter to finance ministry says the fund’s structure and goals make unlisted equities a wise investment, but acknowledges a 4% cap would be sensible
Higher inflation in Norway supports tighter outlook
Norges Bank brings forward its first planned rate hike to late 2018
Iran needs financial sector reform – IMF staff
Central bank should have greater independence and supervisory powers, urge IMF staff
Venezuela to launch cryptocurrency as cash crisis continues
New cryptocurrency will be backed by Venezuela’s oil reserves and other raw materials; new ‘blockchain observatory’ has responsibility for oversight
Libyan PM calls for unification of country’s central banks
Eastern branch functions as separate central bank and issues Russian-made currency
Norges Bank advises removal of oil and gas stock from government fund
Norway’s SWF held $36.5 billion in equities in the sector at the end of September 2017
Kuwait could create financial stability committee – IMF
The central bank could strengthen supervision by creating a new committee, say IMF staff; the country is weathering oil shocks well