Emerging markets
More trouble likely after ‘bumps’ in past quarter, says BIS’s Borio
Corporate debt markets are looking overstretched and could trigger problems; term spread may not be best indicator of recession, special feature finds
Google’s data tool has potential for countries with data gaps – IMF research
Authors explore how search queries can be used to track human behaviour, which could be used to map macroeconomic indicators
Lower oil prices and stronger lira send Turkey and Argentina diverging
In 2019, analysts expect inflation to drop sharply in Argentina and to bounce back in Turkey
EME central banks can counter the next downturn
Philip Turner urges central banks to consider a broad range of actions to tackle volatility stemming from currency mismatches
Turkish inflation falls for first time since March
Currency has begun recovery after reaching record lows against dollar in August
Bank of Israel to form financial stability committee
Central bank governor will chair committee aimed at co-ordinating regulators
Sponsored interview: Henri Fouda, Wellington Management
Central Banking met with Henri Fouda, portfolio manager at Wellington Management at the National Asset-Liability Management Africa 2018 conference to discuss the current outlook for fixed income investment on a global and regional basis. Fouda shares his…
Policy-makers need to tackle ‘liquidity illusion’ – Carstens
BIS chief warns asset managers may contribute to sudden withdrawals of liquidity; emerging markets should be willing to try unorthodox policies
Advanced economies suffer greater spillovers – BIS research
Study examines extent to which various central banks cause and suffer policy spillovers
Bruno and Shin investigate EM firms’ dollar vulnerabilities
BIS paper highlights negative effects of US dollar strength on emerging market firms, as figures show dollar borrowing is still on the rise
Turkish central bank on hold as lira finds support
Central bank holds main rate in first decision after September’s aggressive tightening action
Emerging market governors back targeted capital controls
Governors says capital flow measures can be important tools in some circumstances
IMF calls for fiscal consolidation in anticipation of next crisis
As global financial conditions tighten, emerging economies record higher corporate and sovereign debt
IMF cuts global growth forecasts
Likelihood of further negative shocks has risen, warns Maurice Obstfeld
Global output gap matters for inflation – BIS paper
Authors find domestic and global output gaps both important, but effects differ across economies
IMF paper explores interaction of capital controls and macro-pru
Capital controls do not “consistently” mitigate potential increases in cross-border flows
Bank Indonesia raises policy rate in fifth hike since May
Rupiah is at lowest level since global financial crisis
Argentina adopts floating exchange rate regime to tackle peso crisis
IMF extends running standby arrangement to $57.1 billion
BIS paper finds sound economy may not prevent capital outflows
Emerging markets could use pre-emptive macro-prudential policies to safeguard against capital outflows, researchers say
Booming US economy set against ‘fragile’ markets – BIS review
Fiscal stimulus on top of loose financial conditions in the US continues to pile pressure on emerging markets, the BIS warns in its latest quarterly review
Inflation proves worrisome for Sarb MPC
Governor stresses central bank has inflation target range and not a specific point; MPC leaves interest rates on hold
IMF warns low-income countries about higher debt risks
Increased exposure to non-traditional lenders could increase rates and shorten maturities
Bank of Russia becomes latest EM central bank to hike
Central bank cites effects of ruble depreciation as it raises policy rate
BCRA keeps policy rate on hold at 60%
Inflation likely to rise more in the months ahead before improving, committee says