Commodities
Rwandan central bank cuts rates to historical low
Inflation falls from 6.4% to 2.2% in 12 months; growth supported by higher commodity prices and improved agricultural performance
Carney proposes public-private co-operation in markets regulation
Supervisors cannot regulate every circumstance and anticipate all market innovations, Bank of England governor says
Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors
BIS paper surveys financial shocks in Latin America
Authors study the most effective policy response to financial shocks in different countries
Global factor playing bigger role in commodity prices, researchers say
“Single global factor” likely to be linked to demand, Banque de France paper finds
China’s deleveraging efforts pose global financial risks, research says
A sudden financial shock may imperil demand, trade and commodity prices
BIS research says macro-pru could help African central banks
Paper shows African central banks are less likely to allow exchange rate deprecation when reacting to external shocks
Divided Central Bank of Colombia votes to cut interest rates
Worries about inflation not returning to target spur board to cut interest rates to 5.75%; external conditions remain a concern despite slightly better inflation data
Flexible exchange rate aids those hit by commodity shock, IMF report says
“Sacrifice ratio” is lower for those that allow local currency to depreciate; fixed exchange rates are becoming more expensive, IMF says
Colombia’s Echavarría says monetary policy has been a challenge
Monetary policy has had to adapt to external headwinds that have caused macroeconomic imbalances for Colombia, central bank governor says; effects are now showing signs of abating