Majority of reserve management strategies unchanged by US tariffs
Some central banks have changed duration or currencies, but for most, business remains as usual
US president Donald Trump’s tariffs have not changed most reserve managers’ strategies, the Reserve Benchmarks 2025 reveal.
Eighty-four per cent of the 81 central banks that responded to this year’s Reserve Benchmarks have continued their previous strategies despite sweeping tariffs introduced by the new US administration.
Likewise, while the volatility of tariffs has upended international trade with the US, central banks did not expect similar turmoil when it comes to accessing foreign exchange
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