Advanced economies
Policy transmission weaker in poorer countries – paper
Authors say disconnect may reflect limited financial inclusion and prevalence of informal credit
The next financial crisis may start outside the banks
The warning signs are multiplying and the window for preventive action is narrowing, writes Stijn Claessens
Dollar smiles again, but for how long?
Twitchy investors backed the buck during Iran war, but experts are divided on whether this marks a return of the dollar smile
Book notes: The art of monetary policy, by Kristin Forbes
The message that effective monetary policy-making requires judgement, flexibility and realism alongside technical expertise is both persuasive and highly relevant
Kristin Forbes on ‘wargaming’ for the next crisis
The MIT professor and former BoE MPC member speaks about QE, scenario analysis and the art of conducting monetary policy in the ‘fog of war’
Geopolitical shifts and the evolution of reserve management: adapting to a new reality
How great power rivalry affects central bank portfolios by the Central Bank of Brazil’s Ricardo da Costa Martinelli
Book notes: Everybody loves our dollars, by Oliver Bullough
The author poses serious questions about whether central banks’ activities are helping kleptocrats
Economic security requires alliances, not autarky – panel
Former RBA policy-maker says countries outside US need strong trade links in uncertain times
Emerging economies likely to lag advanced in AI-led growth – study
BIS report highlights divergence in technology’s impact on jobs and countries’ ability to adapt
Models need rethink due to effect of global shocks – paper
Central banks can no longer assume shocks are ‘temporary, linear and symmetric’, authors say
Beige Books show promise at predicting recessions – study
LLM data on Fed reports is more accurate at forecasting downturns than yield spread, authors find
Bessent: Fed heads should come from districts they represent
US Treasury secretary says measure would not be applied retroactively
Alexandre Tombini on LatAm resilience and growth amid uncertainty
The BIS Americas head speaks about the impact of the US tariffs, building resilience amid uncertainty and fostering inclusion through digital payments
ECB and BoJ officials reject explicit forward guidance
Central bankers promote ‘meeting-by-meeting’ approach to rates setting
Venetian lessons for today’s central bankers
Loose money and lost credibility in 17th century city state provide a cautionary tale about the importance of international investor confidence, argues Biagio Bossone
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements
Fiscal dominance: are central banks about to be Trumped?
Jagjit Chadha highlights the danger of an ‘upper bound’ on interest rates as fiscal strains grow
Book notes: Private finance, public power, Peter Conti-Brown and Sean H Vanatta
A detailed history of bank supervision in the United States from 1789 to 1980
BoK meeting minutes show sole dissenter favoured rate cut
Board members agreed economy showed signs of recovery, but majority voted to hold
Little impact on Sweden’s inflation from US’s China tariffs – study
Sveriges Riksbank paper says levies will affect Swedish exporters in as yet unknown ways
Climate change harming global economy – BoK study
Study finds high income countries more vulnerable to climate change, in contrast to other research