International
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
The Belt and Road Initiative 2019 Survey – A new driver for globalisation?
The second Belt and Road Initiative (BRI) Survey of 28 central banks reveals that they view the BRI as a major driver of globalisation, with a high percentage of respondents expecting the initiative to provide a significant boost to GDP. So far,…
Central banks urged to take four key climate actions
Network for Greening the Financial System releases first comprehensive report
IMF’s Adrian says central banks should disclose climate risk exposure
Data gaps make it harder for central banks to set appropriate climate stress tests, he says
Pause in normalisation could be bad news for EMEs – Mexico’s Guzmán
A pause may create a “more complex and uncertain external setting” for EMEs, he says
Finding our way to the new Ibors
Richard Heckinger highlights possible pitfalls on the road to new reference rates
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
The turmoil test for emerging and advanced economies
Greater integration between advanced and emerging market economies during globalisation has made both more susceptible to risk of spillover – financial contagion and volatility. As the US continues to normalise its monetary policy, deputy governor of…
Internationalising renminbi – Hong Kong leads the way
Hong Kong’s advantages in technology, talent and infrastructure make it best placed to form the primary transaction and risk management network for the overseas offshore renminbi market, argues Zhou Chengjun, IFF Academic Committee member and deputy…
An international system for all
Reform of the system that brought about the financial crisis in 2007–08 has not gone far enough, writes Zhu Xian, IFF vice-chairman and vice-president of the New Development Bank. Developing countries are demanding greater influence in global economic…
Central banks will not rescue firms from future of payments – ECB’s Cœuré
Market disruption is likely as incumbent banks fight to remain relevant
Now is a ‘critical time’ for Ibor transitions – Bailey
Global regulators convene in Washington, DC to tackle the transition to new benchmark rates
Low interest rates adding to high global stability risks – IMF
Monetary policy-makers must look at both short- and medium-term stability risks, says Tobias Adrian
Cyber fraudsters starting to rethink tactics – report
Swift research shows hackers have switched to transferring smaller amounts during normal business hours
Informal sector changes inflation dynamics – BIS paper
Informality dampens impact of some shocks but also impairs policy transmission, authors find
Basel Committee seeks feedback on streamlined version of Basel III
Sprawling array of PDFs was getting difficult to handle, committee says
FSB to tackle technological innovation under Japanese G20 presidency
Crypto assets, tech firms and cyber risks all on the agenda, says Randal Quarles
IMF cuts growth forecasts for most economies
Japan and China are the only two to receive a more optimistic outlook from the IMF
BIS paper finds some potential benefits to ‘bigtech’
Firms may be better able to predict losses and support underserved borrowers, authors find
The IFF China Report 2019: New globalisation – The path to the future
Multilateral rules and multilateral bodies will need to be upgraded in the coming years to better represent the shift in economic gravity towards Asia, which has emerged as the largest contributor to global growth during the past decade.
National Bank of Cambodia to deploy blockchain payments system in 2019
Use of blockchain may improve financial inclusiveness of payments system
Arab regional payment system set for 2020 launch
New system would replace costly and inefficient correspondent bank model
People: New chief operating officer appointed at the Fed
Patrick McClanahan returns to US central bank to take up COO post; former Central Bank of Ireland chief dies; and more
Ageing workforce depresses wage inflation – BIS paper
Demographic change could be behind weakness of inflation despite record-low unemployment