Higher inflation and interest rates will not reverse asset diversification in central banks’ international reserves portfolios, the HSBC Reserve Management Trends survey published by Central Banking Publications finds.

Overall, 78 central banks provided responses on how markets will impact asset allocation among reserve managers. In total, 28 (35.9%) said they expect the current environment to increase the pace of diversification, another 28 forecast it will continue unchanged, while 20 (25.6%)