International
Alexandre Tombini on LatAm resilience and growth amid uncertainty
The BIS Americas head speaks about the impact of the US tariffs, building resilience and fostering inclusion via digital payments
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
Thailand and China renew bilateral currency swap agreement
Central banks agree to exchange up to 70 billion Chinese yuan over five-year period
Bailey, the IMF and the fundamental asymmetry problem
The IMF must address sovereign asymmetry and transform surveillance into a tool for mutual accountability, argues Biagio Bossone
Experts split over wisdom of Mexico’s 25bp rates cut
Economist says policy committee’s sole dissenter was right to vote to hold
Sino-Egyptian collaboration could reshape global monetary order – expert
MoU provides further evidence of shift towards multipolar world, says professor
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
A fireside chat with BIS head Agustín Carstens
The lifetime achievement award-winner speaks with Chris Jeffery about how experiencing inflation shaped his career, gaps in economic theory and macro-pru governance, the future of money and the importance of international co-operation
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
Reflections on the international financial situation
Former IMF head Jacques de Larosière writes that markets are blind to Trump's policy shocks that are fragmenting the monetary ‘system’, causing strain in the eurozone and may result in stagflation
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
US sanctions may create demand for Eurodollars – NBER paper
Economists compare today’s market to the one that emerged during Cold War era
Fifth review: done. How Ukraine set a record in passed IMF reviews
NBU governor Andriy Pyshnyy says unlocking funding has become a matter of survival for his country
Small economies still trigger ‘substantial’ spillovers – IMF paper
New data on monetary policy shocks allows economists to track cross-border impact
NGFS study offers three proposals to help green monetary operations
Report highlights eight case studies, including central banks in China, Japan, the eurozone and UK
Turkey’s economic odyssey: inflation, lira decline and strategic shifts
Marcello Minenna delves into the damage of 20 years of ‘Erdoganomics’
ECB should cut rates earlier, says BdF governor
French government has failed to reform since 2015, Villeroy de Galhau says
Book notes: The ruble: a political history, by Ekaterina Pravilova
Indispensable reading for anyone interested in Russia and comparative, long-term historical accounts of monetary ideologies and practice
Macro-pru helps dampen global shocks – BIS paper
Authors find capital controls are less effective than prudential tools at offsetting shocks
EMEs now coping better with financial market stress – BIS paper
Authorities have tackled old vulnerabilities, but trouble is springing up elsewhere
Lagarde warns fragmented world could be inflationary
“Multipolarity” could also raise global co-ordination challenges, ECB president says