International
ECB stresses protectionist risks in economic bulletin
US administration announced plans to impose tariffs on steel and aluminium in March
Dollar may soon give breathing space to emerging economies
Global growth, higher US debts and a tighter ECB policy could weigh on the currency
CPMI puts forward strategy to tackle wholesale payments fraud
The Federal Reserve and the ECB welcome the proposal
US ‘normalisation’ should be manageable for emerging economies – Powell
Turkey and Argentina grapple with weaker currencies as US Treasury yields rise
Oil exporters present higher risk of default, researcher says
Researcher says 27 out of 35 oil-exporting countries defaulted on their debt between 1979 and 2010
The hunt for a crypto taxonomy
Cryptocurrency, crypto asset, crypto token – or something else? Finding the right term helps shed light on the structure of the fast-growing crypto market
Global gold demand weakens despite central bank surge
WGC figures show Q1 demand was its lowest for 10 years, though central banks bought more
IMF unveils first vintage of macro-prudential data
Database is the first global source of information on macro-prudential institutions, indicating an overall tightening in policy in 2016
Emerging markets still taking on dollar debts, BIS data shows
Rapid growth in credit to emerging markets echoed by broader rises in global liquidity
The move to risk‑based supervision
Rapid regulatory change has led to a steep increase in data volumes and policies, and a new environment has opened up for discussions on effective regulatory supervision and a transition to risk-based supervision.
Andreas Dombret on ECB policy, deposit insurance and Basel III
The Deutsche Bundesbank executive board member speaks about exiting QE, the viability of European deposit insurance, the German banking system and doing a deal on Basel III
World Bank names new chief economist
Pinelopi Koujianou Goldberg brings deep experience of trade economics; predecessor Paul Romer spent a turbulent 15 months in office
Basel’s Coen warns on complexity of market risk rules
Regulators may consider “simpler and more robust” approaches when finalising rules this year
Claims on offshore centres at record high – BIS data
Overall cross-border claims “gained momentum” in Q4 2017
US steel tariffs likely to damage labour market – NY Fed research
Exporters who need steel imports face higher input costs, possibly leading to lower employment
People: RBA appoints new chief information officer
New council member in Ukraine; Liu He no longer in China’s State Council; MAS appoints new board member
The IFF China Report 2018
Insight and opinion from China’s top leaders, policymakers and financiers
Higher expenditure in services limits trade growth – Fed paper
Growth of trade in 1990s and 2000s may be anomalous, researchers say
Satellite night-time light data could forecast US exports – Fed paper
Night-time lights offer a quick and accurate picture of economic activity, researchers say
Real rates likely to move back up – BIS paper
Use of “shadow rate” allows authors to account for the effective lower bound
IMF warns of ‘bumpy road’ as rates rise
Financial stability outlook shows risks rising in the short run and “elevated” in the medium run
The IFF China Report 2018: The Belt and Road Initiative
China’s signature Belt and Road Initiative (BRI) now includes 71 countries, with trillions of dollars of investment allocated. Leading Chinese and international policymakers explain how BRI efforts are progressing. This section includes an inaugural…
A route to economic growth – The Belt and Road Initiative 2018 survey
To mark the fifth anniversary of the Belt and Road Initiative (BRI), the IFF – in collaboration with Central Banking – conducted its inaugural Belt and Road Survey of central banks from more than 25 countries and regions. The survey examines BRI…
Rising rates seen as main risk by reserve managers
High asset prices and the halting and withdrawal of bond-buying programmes pose challenges