Emerging markets
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions raise questions about the US dollar’s central role
Taking a cue from the top: governor turnover and independence
Central bank governors tend to have long tenures, but what that means can vary. High turnover remains a worrisome signal
RBI’s Patra envisages India as ‘economic superpower’
India has chance to achieve “escape velocity” from emerging market status, deputy says
Colombian study estimates policy impact on capital flows
Meta-analysis using web scraping finds central banks have more control over some flows than others
Monetary Policy Benchmarks 2022 report – a pandemic legacy
Benchmarks data offers insights into how Covid has impacted policy frameworks, plus governance, market operations and policy transparency
Labour supply key to understanding inflation, Shin tells G20
Understanding labour market is critical task for policy-makers, BIS head of research says
Knot says financial stability risks are growing
FSB chair says emerging economies are particularly vulnerable as financial conditions tighten
Asian central banks deploy FX reserves to prop up currencies
Analysts remain confident in Asia’s financial stability, but recession risks are building
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing
Japan and Soramitsu to conduct Asia-Pacific CBDC studies
Observers note de-dollarisation and spread of e-yuan as potential motivations
Holding the line: the right response to war and Covid
Jagjit Chadha offers advice to policy-makers struggling to navigate between economic shocks
Rise of fintech strengthens case for capital controls, IMF says
Countries may have to throw “sand in the gears” to protect monetary sovereignty, says Georgieva
Central bank websites vary greatly in popularity
Some get hundreds of page views per month, while others get millions
Mexico’s García: war implies tough trade-offs for reserve managers
Banxico reserves director says central banks may need to rethink their strategic asset allocations
FSB-IMF report calls for action on external debt
Study finds authorities were able to manage the Covid crisis but have not fixed underlying problems
Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
Do CBDCs make sense for Latin America?
Steven Kamin says CBDCs may be particularly beneficial to emerging market economies
IMF raises red flags for global growth
Fund warns of global fragmentation as it cuts growth forecast and predicts higher inflation
Book notes: Shutdown, by Adam Tooze
Useful overview, showing intimate intertwining of geopolitics with health and economic policies
MAS’s Tharman urges investor action on global instability
War, stagflation risk, climate crisis, pandemic and uneven growth create “perfect long storm”
Digital money and central banks
Monetary policy, regulatory and financial stability focus needed to stay relevant
Rethinking sovereign risk
‘Risk-free’ assets now include the possibility of complete confiscation with no recourse
Emerging economies ‘remarkably’ resilient to Fed tightening, BIS says
Many EME currencies have appreciated, but Turkish lira and Russian ruble are notable exceptions
Namibia marks first rate hike in six years
Central bank acts to “safeguard” link to South African rand