The value of ETFs to central bank reserves managers

Are ETFs as a tactical tool fit for purpose?

arvid-ahlund
Arvid Ahlund

In January, Bank of England governor Mark Carney warned a group attending a lunch at Davos, the Swiss ski resort that hosts the World Economic Forum, that the equilibrium real interest rate – in negative territory for much of the past five years – was likely to "remain well below" its historic norm. He was the first governor of a major developed world central bank to raise an issue that Larry Summers, former US Treasury secretary and Harvard University president, had already described as

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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