Current account
Global current account balance to narrow, IMF says
Weakening commodity prices have stripped energy-exporting countries of their surpluses
The BoJ’s possible path to positive rates
Are market expectations about a spring shift from negative Japanese rates credible, asks Sayuri Shirai
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
Indonesia and South Korea to launch cross-border settlement
Bank Indonesia has been a leader in boosting the use of local currency for cross-border trade
Obstfeld argues central banks’ rate models are ‘conceptually flawed’
Former IMF chief economist says rates could soon return to the effective lower bound
Taiwanese governor flags US sanctions risks
Yang says Taiwan should pay attention to the widening trade surplus with US
Stronger US dollar hits emerging countries more, says IMF
Credible monetary policy frameworks are key to cushion external shocks, report argues
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Sarb raises rates and warns of worsening economy
Central bank cuts growth forecast and says long-term inflation expectations are rising
Iceland raises rates 125bp to head off ‘wage-price spiral’
MPC orders largest increase in two-year tightening cycle as inflation remains near 10%
Book notes: States and the masters of capital, by Quentin Bruneau
Chronicling the practices and players involved in privately financed sovereign debt
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
SBP raises rate 100bp amid balance of payments ‘stress’
Inflation continues climb while reserves remain at critically low levels
Bank of Guyana rejects FX criticism
Country’s FX reserves fell to 1.4 months’ worth of export cover in the autumn
CBRT cuts policy rate to support earthquake recovery
Central bank fears supply disruption from natural disaster could add to inflationary pressures
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
New Bank of Tanzania governor appointed
Emmanuel Tutuba replaces Florens Luoga, whose term had ended
Tunisian governor warns country needs IMF deal after latest hike
Country faces rising inflation as foreign exchange dwindles and political crisis continues
Four more African central banks raise rates
Ghana raises policy rate to highest level since 2017, plus hikes in Uganda, Sierra Leone and Tunisia