Trade
Carney: digital currency could help fix global monetary system
A “synthetic hegemonic currency” could end the destabilising dominance of the dollar, BoE chief says
Powell treads cautious line in Jackson Hole remarks
Chairman gives few clues to future policy; Trump appears unimpressed with the address
Prices more responsive in longer buyer-seller relationships – NY Fed paper
Pass-through of exchange rate shocks could decrease during recession, research finds
FOMC divided over July cut, minutes show
Some FOMC members worried by effect of rate cut on US financial stability
RBA ready to cut rates below record-low 1% – minutes
On August 6, central bank cut its growth projections on higher international trade tensions
The Fed’s trade policy dilemma
FOMC should loosen, but members must speak out more forcefully against tariffs, writes Barry Eichengreen
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail and use of CCyBs, highlights challenges of an asymmetric monetary system, hits out at cumbersome payments and warns Facebook’s libra cannot ‘learn as…
Trump criticises ‘clueless Jay Powell’ as markets plunge
US equity markets face sell off and 30-year treasuries dip below 2% for first time
China will need more stimulus if trade tensions rise – IMF staff
IMF staff say China’s financial system still has “elevated” vulnerability
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
Sterling’s fall boosted UK inflation - San Fran Fed paper
Prices of tradeable goods rose significantly more than non-tradable goods, researchers find
Serbia cuts rates to record low due to falling inflation
Executive board highlights slowdown in global trade, growth and looser policies in major economies
London to remain major financial centre despite Brexit
Research at the Central Bank of Ireland highlights the “premium” the UK capital enjoys over other cities
Thailand unexpectedly cuts rates
Bank of Thailand delivers surprise 25bp cut; move follows PBoC allowing RMB to fall through seven to the US dollar
Former Fed chairs stress importance of central bank independence
President Donald Trump has repeatedly criticised chair Jerome Powell for keeping interest rates too high
RBI implements fourth rate cut of the year
Central bank reduces interest rates by 35bp to 5.4%, as it lowers growth forecasts
RBNZ surprises markets with 50bp rate cut
New Zealand central bank reduces interest rates to record-low of 1% on weaker growth projections
US Treasury designates China a currency manipulator
Renminbi crossed the barrier of seven per US dollar amid growing trade tensions on August 5
RBA lowers growth and inflation forecasts
Australian governor says central bank is ready to cut rates further from record-low 1%
PBoC is navigating into uncharted waters on RMB
Beijing and its central bank need to think carefully and act responsibly as the renminbi is steered into uncharted waters
PBoC vows to keep currency stable
Central bank governor says renminbi is at an appropriate level after it breaks ‘7:1’ against the US dollar
Paraguay central bank cuts rates on weak growth and inflation
Trade tensions and looser policies in advanced economies open opportunity to stimulate economy
Bank of Korea cuts rates for first time in three years
Central bank warns of trade tensions as official figures show economy contracted in first quarter
Bank of Canada holds rates despite stronger inflation
Central bank predicts higher growth in coming years but warns of possible trade conflict with US