International
Crises enliven ‘totalitarian temptations’
Coronavirus pandemic will embolden government ‘power grabs’
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime
Fed cuts rates 100bp as central banks launch joint action
Fed unveils rate cut and QE as central banks work together to ease dollar liquidity
Major central banks ready to respond to coronavirus
Fed, ECB and Bank of Japan say they are willing to act; central bank events disrupted
Higher oil prices dampened impact of Fed spillovers in Gulf – IMF paper
Changes in Fed rates likely to have minimal impact on GCC growth with current oil prices, researchers say
Risk of hitting ZLB in the future reduces inflation today – Fed paper
Policy-makers could use “risk-adjusted policy rule” to offset risk of undershooting, researchers say
BIS’s Borio warns interacting financial cycles destabilise global system
Domestic and global cycles interact and amplify one another, BIS official says
IMF paper tracks Asian authorities’ responses to volatile capital flows
Monetary policy typically responds to several variables in pursuit of greater stability, analysis finds
Fed paper looks at US spillovers to foreign government debt yields
Fed has “economically large” impact on some dollar-denominated bond yields, researchers find
King calls for radical shake-up to escape ‘low-growth trap’
Central bank models fail to appreciate demand-side secular stagnation
‘Hegemonic digital currency’ could help fix global system – Carney
Using CBDC to facilitate online sales could bring about more rapid change, governor says
Tackling ‘dead-end’ monetary policy
Shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
EMEs can resist spillovers with prudential policy – BoE paper
Some prudential policies work better than others, researchers find
Expectations and term premia both drive spillovers – BIS paper
Different components have greater impacts in advanced and emerging economies, authors find
Seven threats from big tech’s libra
Can central banks avoid a ‘big tech’ monetary meltdown?
BoE paper: ‘tails’ matter when studying global financial cycle
Authors look to the tails of the distribution to understand exchange rate risk in the global cycle
A key message from Jackson Hole: policy must globalise
Setting policy in isolation is becoming untenable and spillovers must be considered more, remarks suggest
Carney: digital currency could help fix global monetary system
A “synthetic hegemonic currency” could end the destabilising dominance of the dollar, BoE chief says
Agustín Carstens on fixing the global monetary system
The BIS chief speaks on the global safety net, emerging markets’ vulnerabilities and fintech challenges
Fund structures are ‘a big issue’ for monetary system – Carney
Immediate redemptions risk amplifying capital flow volatility
The IMF should adopt a ‘real SDR’
A vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor
IMF must do better in policing currency manipulation – RBI’s Das
Governor says shortcomings in IMF surveillance have led to US pressure on alleged manipulators
BIS paper highlights new channel for Mundellian ‘dilemma’
Authors weigh financial channel as explanation for why trilemma has become dilemma
Senior policy-makers differ on future of global monetary system
Trichet, Lipton and Reinhart debate whether SDR could play a bigger role in global stability