Emerging markets
Building the future of central banking by investing in people and technology
Technological upgrades focused on data mark the beginning of a digital transformation journey and AI adoption, not the end
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
BIS article notes changing effects of dollar weakness on EMEs
Investment channel likely to become more important countervailing force, authors say
Digitisation of money brings more regulatory risks – IMF head
Georgieva says crypto regs are in early stages and not yet coherent internationally
Local bond markets seeing more domestic investors, IMF says
But EMDEs must be mindful of growing sovereign-bank nexus as foreign investors depart, latest GFSR chapter notes
EMs can adopt higher inflation targets – BoE Bulletin
Authors say more elevated goals reflect economies’ faster growth and susceptibility to supply shocks
Climate change harming global economy – BoK study
Study finds high income countries more vulnerable to climate change, in contrast to other research
Climate risks still on the fringe of monetary policy in Asia
Notwithstanding efforts by the PBoC and BoJ, there is still a need to observe persistent and measurable impacts on inflation and output before climate change truly influences interest rate policy, argues Sayuri Shirai
Barbados to launch instant payment system
Central bank says ‘revolutionary moment’ in country’s financial history will take place next March
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Experts split over wisdom of Mexico’s 25bp rates cut
Economist says policy committee’s sole dissenter was right to vote to hold
Trump’s tariffs and the emerging market economies
Steve Kamin says EMEs are likely to escape the worst outcomes from capricious and chaotic trade policy
Book notes: Inflation, by Mark Blyth and Nicolò Fraccaroli
An accessible explainer about the narratives surrounding inflation – and who it benefits
The battle for the future of central banks
Inflation-targeting institutions must not simply defend against overt interference, they must also resist a sly erosion of their authority, writes Biagio Bossone
Tobias Adrian on the integrated policy framework amid tariff shocks
The IMF’s financial counsellor speaks about policy reaction functions to supply and demand shocks, scenario-based analyses, Treasury market dynamics and emerging market resilience
Brics leaders push for multilateral payments solutions
Central bank governors and finance ministers also call for reform of Bretton Woods institutions
HKMA inks agreement with AIIB on Asian EM investment
Hong Kong says agreement will support “green and technology enabled-infrastructure” in region
Payments Benchmarks 2025 – model banks analysis
Data breakdowns shed light on organisation structure, RTGS upgrades and payments innovation
Global macro shifts: can emerging markets navigate a fragmented world?
Franklin Templeton expects certain emerging markets to benefit during the realignment of global political and trading blocs
Is the central bank gold rush over?
Has gold become too expensive to offer value as a diversification asset amid geopolitical turbulence?