International
IMF blog highlights rise of ‘non-traditional’ reserve currencies
Renminbi only accounts for a quarter of the shift away from dollars
Central banks and UN working to improve remittance data
Flows are critical income sources for many economies, but data is often limited
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
People: Skingsley to head BIS Innovation Hub
New deputy governor in Philippines; BIS names new Asia-Pacific rep; and more
Few central banks offer free RTGS transactions
Most central banks use a mix of fixed and variable fees to recoup RTGS operating costs
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Peter Nicholl on rebuilding Bosnia’s central bank
The former RBNZ deputy governor speaks with Dan Hardie about how he tackled financial instability in the aftermath of a war
Global climate standards ‘badly needed’ but elusive, say central bankers
“I am not sure we are going to get there,” ECB president says
Basel Committee finalises climate principles
Committee also pushes forward with crypto asset regulations
NGFS moving from climate ‘awareness to action’ – MAS’s Menon
Net-zero transition has been “tepid” despite the limited time remaining, MAS chief says
IMF gains bigger budget to handle economic ‘inflection point’
Decade of flat budgets hampered efforts to tackle “profound” macroeconomic shift, fund says
Fed and foreign investors earn lower returns on Treasuries, paper finds
Foreign investors tend to buy Treasuries when they are “expensive and offer low future returns”
‘Unconventional credit policy’ can help avoid lower bound – BIS paper
Liquidity injections can be useful tools but also face limits, authors find
Real house price growth slowing slightly, BIS says
Advanced economies still seeing price increases that are close to historic highs
IMF calls for action on fragmenting global economy
Senior officials say world is facing “confluence of calamities” and leaders have been complacent
NY Fed releases supply chain pressure tracker
Recent months have seen resurgence of supply chain bottlenecks
Communications Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the ongoing shift to social media and the impact of Covid-19
Tackling private-sector debt in the wake of the pandemic
Navigating Covid-19 debt is more of a challenge amid gathered storms of inflation and war, write Roong Mallikamas and Benjamin Weigert
BIS report highlights macro risks of inequality
Persistent inequality could weaken policy and create negative feedback mechanism, research finds
Mervyn King says central banks made ‘serious errors’ on inflation
Former BoE governor says UK should raise rates further to curb spiralling prices
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals, amid calls from some parties for higher inflation targets
IMF boosts dollar and renminbi weights in new SDR valuation
Euro records largest drop, while yen and sterling decline slightly