International
Emerging economies ‘remarkably’ resilient to Fed tightening, BIS says
Many EME currencies have appreciated, but Turkish lira and Russian ruble are notable exceptions
BIS paper estimates slack in Mexico’s informal labour market
Calculating Nairu is challenging given large unregulated sector, authors say
BIS targets green bond growth with launch of Asian fund
“We expect a fast-growing market for green bonds,” says BIS banking head Peter Zöllner
Commodity prices rise sharply after Russia’s invasion of Ukraine
Energy prices already account for around 50% of headline inflation in the eurozone
Banks still falling short of final Basel III requirements
Basel Committee says some metrics seem to have been impacted by Covid-19
Stablecoin risks raise need for CBDC research – Brainard
ECB’s Panetta says “stablecoins are not money”, as Brainard weighs CBDC as possible alternative
Risk Management Benchmarks 2022 – executive summary
Insights on risk priorities among central banks and how they are changing
BIS paper finds real links matter for asset price co-movement
Real economic integration may be more important than previously thought, authors say
Book notes: Imagining the Fed, by Nicolas Thompson
A worthwhile perspective on the evolution of such an important institution, but a shame that it isn’t a longer and broader examination
IMF paper finds falling r* should eventually reverse
Authors say several policies could be used to push natural rate back up
FSB warns of rising crypto asset risks
Sector could harm global financial stability if it carries on growing at current rate, FSB says
Change at the Bundesbank: from Weidmann to Nagel?
Joachim Nagel’s appointment highlights the importance of politics at the apex of German central banking. Veteran central bank watcher Klaus C Engelen looks at the media reaction and asks if Buba/ECB discord is set to continue
US Treasury opposes ending IMF surcharges
Biden administration rejects initiative championed by Democratic progressives
Podcast: fixing the gaps in fintech laws
Fintech is reshaping the nature of contracts and even financial firms themselves, but laws are not adapting so fast, say IMF lawyers José Garrido and Juan Sebastián Viancha Trujillo
Emerging market stock returns impacted by dollar – BIS paper
US dollar can drive local financial conditions in equities as well as other markets, authors say
Picking up the pieces: how to tackle the next phase of the Covid crisis
The global economy is heading into dangerous territory, writes Jagjit Chadha. Central banks must honour their commitments to price stability
Weidmann to chair IMF governance review panel
Executive board ordered a review after allegations against Kristalina Georgieva
BIS’s Borio: inflation not yet ‘endemic’ but could become so
There is not yet a deeper shift in the “inflation regime” but it remains a long-term risk, BIS official says
How Afghanistan’s central bank can help prevent famine
Rules could be devised to allow the New York Fed to ease the acute US dollar banknotes shortage, writes Warren Coats
Facebook-backed stablecoin project to wind down, report says
Project formerly known as Libra had struggled to gain regulatory approval
IMF pares back forecasts as world faces ‘multiple challenges’
Omicron variant, supply disruptions and inflation threaten to hold back recovery, says Gita Gopinath
‘Flood’ of reserves may not boost liquidity, say Acharya and Rajan
Central bank balance sheet expansion could harm liquidity in some cases, former RBI officials find
BIS unveils 2022 programmes for innovation hubs
Focus is on CBDC, payments, DeFi, green finance, and first projects in London and Stockholm
Fed keeps investors guessing on speed and endpoint of tightening
Investors generally agree the Fed will tighten policy, but how much and when are unclear