Macroeconomics
Dirk Niepelt on the political economy of CBDCs
The BoE CBDC adviser discusses the social role of a retail digital currency versus commercial bank money and favours a remunerated approach
Malaysia holds policy with an eye on conflict uncertainty
BNM also notes upside potential of tech, lower tariffs and pro-growth measures globally
Thailand unexpectedly cuts rates on lower growth outlook
Central bank hopes easing of policy will support SMEs, households and overall economy
Fed paper touts prediction market data for monetary policy
Sites like Kalshi could become “new benchmark” for measuring expectations, researchers say
BNM holds policy and points to positive economic outlook
Malaysian central bank keeps rates at 2.75% and expects domestic growth momentum to continue
BI holds rates amid renewed concerns over its independence
Indonesian central bank says keeping rates at 4.75% will stabilise rupiah and encourage growth
Indonesia holds as Thailand eases policy
Economists predict both countries’ central banks will aim for looser liquidity in 2026
Water scarcity threatens economies, IMF and BIS warn
Studies say impacts on growth, inflation, fiscal policy and balance of payments are likely to worsen
BSP eases policy and indicates further cuts will be limited
Governor says decision will boost Philippines’ economy amid ‘painful’ governance issues
Indonesia holds rates, with analysts expecting December cut
Central bank says decision will maintain stability of rupiah and strengthen policy transmission
Deep water waves: accelerating, broadening, consequential
Factors that will impact investment returns over the next decades, the interplay between them and their likely impact on investment outcomes
Philippines unexpectedly cuts policy rate
Central bank says government spending concerns have weakened business sentiment
India maintains wait-and-see approach with rates hold
RBI’s governor says effects of previous easing cycle and US tariffs have yet to play out
Bank of Ghana makes higher-than-expected rate cut
Central bank strikes bullish tone over prospects for economic growth and reduction in inflation
Weak productivity reduced output in Australia by up to 3% – study
RBA paper says decline has “profound implications” for citizens’ welfare
Experts split over wisdom of Mexico’s 25bp rates cut
Economist says policy committee’s sole dissenter was right to vote to hold
Book notes: Making money work, by Matt Sekerke and Steve H Hanke
This book provides a critique of the post-crisis monetary and financial system, proposing changes that deserve to be broadly read
US monetary policy has greater impact, BoK modelling shows
Researchers say findings show importance of diversifying export markets and monitoring US conditions
RBA’s deputy governor outlines institution’s research ambitions
Hauser wants bank to become hub for tackling issues such as macro shocks and climate crisis
IMF praises Nigeria’s FX reforms
Fund’s article IV review also calls on central bank to introduce disinflation path
Replacing migrant labour will prove costly for US agri – research
Study by Kansas City Fed says farm operators may respond by shifting to foreign production