Emerging markets
Navigating volatile markets: a rule book for fixed income investors
A framework that measures indicators to assess investment in US Treasuries, US credit, European debt and emerging markets debt
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
Global reset is testing emerging markets – Gopinath
IMF’s deputy managing director says small economies must be ready to respond forcefully to inflation
Kganyago continues push to lower Sarb inflation target
Economists back South Africa’s central bank governor, but finance minister remains sceptical
Rising long-term yields reflect uncertain sentiments – BIS
Latest quarterly review highlights diverging trends in bond, equity and corporate credit markets
The interest rate dilemma in an uncertain world: a balancing act
Biagio Bossone makes the case for a holistic policy approach that includes extending IT tolerance bands, smart fiscal policies, supply-side reform and financial safeguards
EMs resilient to US monetary spillovers, panellists say
Turkish and Thai governors discuss policy challenges at IMF conference in Saudi Arabia
Beyond the benchmark: redesigning emerging market debt allocations
Franklin Templeton analysis shows popular EMD indexes are limited by their focus on the largest and most developed countries in the world, resulting in unattractive spreads and limited risk diversification
Large firms drive inflation in advanced economies – BIS study
Analysis of barcode scanner data finds pricing decisions by individual companies have outsize impact
Rising corporate distress could trigger instability – IMF paper
Study says emerging markets particularly exposed as firms struggle with higher interest rates
The GFXC chair on the next steps for the FX global code
Global FX Committee chair Gerardo García speaks with Christopher Jeffery about updating FX best practice, improving buy-side engagement and revising settlement risk estimates in the BIS’s triennial survey
Paper offers solution to EME monetary transmission puzzles
Price and exchange rate conundrums are interconnected, authors find
Argentina reduces policy rate for first time since May
Analyst says 500bp cut means country is unlikely to lift currency controls soon
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
Governors differ on cross-border payments
Officials from Europe, Africa and Asia diverge over whether bilateral or multilateral links are best
Former LatAm governors propose new IMF liquidity tool
Emerging market fund would be aimed at stabilising bond markets during liquidity crises
Malaysia’s Zeti on the key skills needed to be a successful central banker
The Bank Negara veteran speaks about leadership skills, lessons from the AFC and 1MDB crises, her scepticism of inflation targeting, and how the Asia School of Business' masters synthesises theory with practical realities
Lessons learned on macro-pru policies
Macro-prudential tools are proving their worth although use cases vary by country; integration into over-arching policy frameworks remains a challenge
Navigating uncertainty: the impact of the 2024 US elections on emerging markets
Franklin Templeton analyses possible outcomes of the US elections, the effect on trade, foreign and domestic policies, market impact and implications for emerging market (EM) economies
Credit expansion could dampen growth in EMEs – BIS bulletin
Shift in lending from manufacturing and into real estate is also affecting productivity
Banknotes: July to September 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Malaysia is latest country to seek Brics membership
However, uncertainty remains over whether Saudi Arabia will join emerging economies bloc