Trade
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
New Nicaragua law may isolate local banks
Law could require domestic banks to maintain accounts of people under sanctions
Economics Benchmarks 2020 report – executive summary
Shedding light on economics governance, salaries, forecasting, research, publications and more
PBoC eases cross-border yuan settlement policy
Central bank promotes use of yuan in cross-border settlement and financing
Terms of trade shocks not symmetric – BoE paper
Developing countries particularly vulnerable to export shocks, study finds
Tourism acts as Covid-19 amplifier in the eurozone
Shock is increasing fragmentation risks in the region due to its uneven effect across countries
The role of Tips for the future payments landscape
Tips could support euro CBDC plus cross-border payments in many currencies
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging
SNB still ready to depreciate franc despite US condemnation
Swiss central bank stands firm after US Treasury labelled Switzerland a currency manipulator
US brands Switzerland a ‘currency manipulator’
Treasury also accuses Vietnam of manipulating exchange rate to gain “unfair competitive advantage”
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
BoE says banks can cope with Brexit and pandemic
But central bank warns EU actions are risking some disruption as transition period ends
Climate change on the agenda for most economics departments
Central banks explore a wide range of topics, with some differences between advanced economies and EMEs
SNB’s Maechler: innovation hub in race to catch up with fast-paced markets
Swiss hub is laying foundations for a fast market-monitoring platform
Monetary-fiscal policy co-operation and the ‘slippery slope’
Barry Eichengreen assesses the risks central banks face from their closer links to fiscal policy
Regulators voice concerns over cloud risk
Failure of big cloud service provider could cause “a very large shock”, says NY Fed exec
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Bank Indonesia and PBoC sign currency agreement
Move follows Indonesian central bank accords with Japan, Malaysia and Thailand
Sterling swap traders brace for new Sonia switch deadline
Covid delays force regulators to set new date for interdealer swap market to price off RFR
Nigerian president tells central bank to change forex policy
Central bank defends industrial subsidies and says border has been closed to prevent smuggling
Colombian exchange rate shocks are asymmetric – central bank paper
Impact of 2014 drop in Colombian peso lends support to “dominant currency” theory, authors say
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed president discusses his support for average inflation targeting, his concerns about US Treasuries market function, non-bank regulatory weakness and negative rates, as well as the unexpected success in using Homebase data to predict highly…
ECB paper sets out new dataset on trade invoicing currencies
Dataset sheds new light on the importance of “dominant currency paradigm”, authors say