Executive summary

Joasia E. Popowicz

Two decades ago, the US invaded Iraq, 10 nations joined the European Union, severe acute respiratory syndrome (Sars) broke out in China and spread across the world, and World Trade Organization-led negotiations between nations collapsed. The US dollar depreciated relative to the euro and other currencies, as the US called for China to loosen its exchange rate policy.

A global financial crisis, another pandemic and the sharpest monetary tightening cycle in over four decades later, the 20th edition of the HSBC Reserve Management Trends book brings together the views of 91 reserve managers on

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.