Capital flows
Central banks must break with short-term political cycles – Díaz de León
Mexican governor stresses independence and long-term objectives can help tackle populism
BIS paper finds cross-border links between monetary and macro-pru policy
Authors discover “significant interactions” between policies
New IMF data reveals non-banks drive capital flows when global risks rise
Evidence can be used to analyse how changes in industry mix can impact capital flow volatility, researchers say
Central Banking’s ‘Leaders’ for custody, banking and gold
Central banks want integrated custody platforms and real-time data from custodians as the low-yield environment drives demand for banking services and increases the relative attractiveness of gold
Capital outflows further reduce Turkey’s reserves in March
Current account deficit falls, but the economy’s weak external position remains unchanged
Carstens says EMEs are right to intervene but must be ‘rigorous’
BIS is “expending a great deal of analytical effort” in understanding the issue, he says
Former Argentine governor dismisses stabilisation plan
Martin Redrado says monetary base targeting is unsustainable and insufficient to tame inflation
Emerging markets Argentina and Turkey: mission impossible?
High international debt exposures, large deficits and institutional frailty have fuelled capital outflows, weaker currencies and soaring inflation in Argentina and Turkey. Does the US Fed’s pause give the EM central banks reason for hope?
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
Financial openness key for monetary spillovers – RBA research
Trade flows appear not to contribute to interest rate correlation
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
The turmoil test for emerging and advanced economies
Greater integration between advanced and emerging market economies during globalisation has made both more susceptible to risk of spillover – financial contagion and volatility. As the US continues to normalise its monetary policy, deputy governor of…
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
Turkey acknowledges reserves build-up necessary to stabilise lira
Currency plummeted on March 22 on weak global economic data
China’s bond market needs reform, economist says
IMF book looks in detail at China’s bond market characteristics, prospects and reforms
Local currency debt not enough to escape US dollar influence – BIS paper
Emerging markets borrowing in domestic currency are still affected by the US dollar exchange rate
BIS paper studies high-frequency data on central bank intervention
Sterilised foreign exchange interventions can help to slow credit growth, authors find
BIS book outlines macro-financial policy framework
“Integrated inflation targeting” would combine policies for maximum effect, authors say
Inflation set to decline in Argentina this year – central bank survey
Market analysts expect year-on-year inflation to fall to 28.5% from 47.6% in December 2018
PBoC handed leading role in macro-prudential policy
Shake-up of PBoC’s governance structure sees central bank gain macro-prudential department
Argentina resumes forex interventions as peso rises
Central bank bought dollars in January to depreciate peso and keep it within non-intervention zone
Indonesia holds rates on solid growth and stronger rupiah
Higher rates through 2018 have attracted capital and helped keep inflation on target
EME banks have ‘substantially’ increased global footprint – BIS research
Study finds emerging market banks have taken a greater role as their home economies have grown
Hélène Rey offers advice on achieving monetary ‘emancipation’
Authorities may have to consider capital controls to break free from global financial forces, economist says