Capital flows
Economists use AI to expand data on cross-border flow limits
IMF paper draws lessons from 40,000 policy moves designed to control financial flows
‘Plaza accord 2.0’ will not fix global imbalances – IMF panel
But getting China and US to implement other necessary remedies will be challenging, speakers say
EMs could face capital outflow because of Iran war, IMF warns
Systemic impact from stress in private credit contained so far, latest financial stability report says
Asean pledges deeper integration in face of Middle East uncertainty
Bloc’s finance ministers and central bank governors highlight increased geopolitical risks
FX interventions are about smoothing volatility – panel
Speakers at Central Banking Meetings also discussed reserve composition and transparency
Iran war has triggered ‘peak’ FX volatility, say reserve managers
Officials tell Central Banking Meetings that oil supply shock is on its way
Central banks in China, Hong Kong and Taiwan hold rates
Taiwan tilts hawkish, Hong Kong follows Fed and China expected to ease by 10bp this year
Monetary policy in Asia since the pandemic
Asean+3 nations must plan to tackle ‘disturbance’, ‘structural’ and ‘radical’ uncertainty using a disciplined policy mix to preserve price stability amid global shocks, writes Dong He
Philippines may not reach digital payments goal, says governor
Rate cuts will have limited impact on growth, despite BSP having ample policy space, says Remolona
Taiwan rejects accusation of ‘backdoor currency manipulation’
Central bank says it ‘cannot and will not’ have upper limit for New Taiwan dollar
Global liquidity surge continuing, BIS figures show
Lending to non-banks continues to lead cross-border credit expansion
AI and tokenised finance are reshaping financial trust
Amro’s CEO Yasuto Watanabe argues that sustained policy attention is needed to ensure the foundation of trust remains resilient amid financial transformation
Mutual funds amplify FX sensitivity to capital flows – study
Investment in Swiss bonds increasingly linked to franc’s value, SNB paper finds
Taiwan commits to greater FX transparency after talks with US
Central bank rejects claim that domestic currency has been persistently undervalued
Brazil tightens crypto rules amid fears of capital outflow
Stablecoin transactions will be treated as FX operations under new central bank regulations
Researchers revisit 20-year forecast for global monetary system
Eichengreen and Razo-Garcia predict further move towards polarised exchange rate regimes
NBER paper maps out international financial network
Rey and Stavrakeva show equities markets play crucial transmission role
PBoC’s Pan calls for ‘meaningful’ IMF quota adjustments
Governor says global economy needs more co-operation amid heightened uncertainty
China and Indonesia expand cross-border settlement links
Central banks also announce QR-based pilot for payments in local currencies
Geopolitics, crypto and inequality are systemic risks – ESRB panel
Geopolitical risk is shaping markets, institutions and the financial system, says Olli Rehn
Foreign open-end funds threaten financial stability – BoJ study
Researchers say external crises could lead to large outflows from vehicles investing in Japan