Commodities
The IFF China Report 2018: China’s opening-up and reform policy
The experiences of China’s opening-up and reform during the past 40 years, which includes a transition from an agricultural economy to one seeking to offer high-end manufacturing and services, offer valuable lessons to other nations seeking to pursue…
The IFF China Report 2018: Post-financial crisis – A decade on
The Global Financial Crisis sparked Group of 20 countries to introduce tough new regulations on financial institutions and instruments. Yet the architecture of the global monetary, economic and financial system has many flaws. What lessons can China…
Bank of Mongolia gains greater independence under new law
Central bank had complained government and politically connected businessmen were too quick to dip into its funds
World Gold Council launches gold accounting framework
Guidance aims to help central banks harmonise the treatment of gold in their accounts in a way that meshes with broader reserves accounting
Misinterpreting commodity price swings can be damaging – BIS paper
Whether movements are down to supply shocks or changes in global demand matters for policy, and mistakes can be procyclical when central banks act together
Commodity price dip ‘likely to persist’ – paper
Bank of Canada research examines how global real economic activity can be used to model commodity prices
Angola looks to abandon currency peg
Crippled by low commodity prices, Angola’s kwanza will be allowed to float within a range, governor says
Rwandan central bank cuts rates to historical low
Inflation falls from 6.4% to 2.2% in 12 months; growth supported by higher commodity prices and improved agricultural performance
Carney proposes public-private co-operation in markets regulation
Supervisors cannot regulate every circumstance and anticipate all market innovations, Bank of England governor says
Venezuelan crisis deepens; rating agencies declare default
Russia agrees to restructure $3.15 billion to facilitate repayments to creditors
BIS paper surveys financial shocks in Latin America
Authors study the most effective policy response to financial shocks in different countries
Global factor playing bigger role in commodity prices, researchers say
“Single global factor” likely to be linked to demand, Banque de France paper finds
China’s deleveraging efforts pose global financial risks, research says
A sudden financial shock may imperil demand, trade and commodity prices
BIS research says macro-pru could help African central banks
Paper shows African central banks are less likely to allow exchange rate deprecation when reacting to external shocks
Divided Central Bank of Colombia votes to cut interest rates
Worries about inflation not returning to target spur board to cut interest rates to 5.75%; external conditions remain a concern despite slightly better inflation data
Flexible exchange rate aids those hit by commodity shock, IMF report says
“Sacrifice ratio” is lower for those that allow local currency to depreciate; fixed exchange rates are becoming more expensive, IMF says
Colombia’s Echavarría says monetary policy has been a challenge
Monetary policy has had to adapt to external headwinds that have caused macroeconomic imbalances for Colombia, central bank governor says; effects are now showing signs of abating