Emerging markets
Mampho Modise on payments reforms and the hierarchy of money
Sarb's deputy governor discusses conflicting crypto directives, wholesale CBDC plans, expensive remittance and a Brics gold-backed settlement unit
Policy transmission weaker in poorer countries – paper
Authors say disconnect may reflect limited financial inclusion and prevalence of informal credit
Asean’s expanding and evolving swap lines
The Asian trade bloc – with and without China, Japan and South Korea – wants to strengthen emergency liquidity support
‘Glory days’ of central banking may be behind us – Goodhart
Former BoE MPC member warns central banks will struggle to combat inflation given fiscal pressures
Barry Eichengreen on the evolution of the global monetary order
The US monetary expert speaks to Thomas Chow about similarities between the dollar and 18th century Dutch money and why Washington has bet on the ‘wrong horse’ with private stablecoins
Venezuela launches $150bn debt restructuring process
Government looks to rework both sovereign and national oil company’s debt
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
Israel’s Golan Benita on reserve management amidst the AI boom
The head of market operations at the Bank of Israel discusses a shift to active equities to address ‘Mag7’ risks, the rationale for extending duration, and his critical view of crypto and gold
Indonesia going ‘all out’ to prop up rupiah, governor says
Warjiyo says it is ‘not business as usual’ following $1.7bn outflows from foreign portfolio in Q1
Book notes: Redefining the monetary standard in the digital age, by Livio Stracca
A comprehensive and readable account of what digitalisation could mean for monetary policy
Geopolitics complicates stablecoin adoption, BIS paper finds
Weaponisation of financial infrastructure may hinder digital dollarisation, say researchers
Trends in reserve management 2026: survey results
101 central banks, responsible for $9.5trn+ reserves, reveal exclusive data on FX interventions, if the US dollar is still seen as a safe-haven currency and approaches to investing in 20+ currencies
Global AI imbalances expected to hit emerging markets hardest
IMF’s Bo Li and Anthropic’s economics head discuss social protection on panel
Economic security requires alliances, not autarky – panel
Former RBA policy-maker says countries outside US need strong trade links in uncertain times
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
Sabine Mauderer on the past, present and future of the NGFS
Bundesbank official discusses green policy, the Fed, data blind spots and future prospects
Stablecoin demand transmits to FX markets – BIS paper
Inflows into digital assets make acquiring dollars via swap markets more expensive, authors find
Indonesia holds rates and adjusts FX rules to stabilise rupiah
BI says Middle East conflict provides greater reason for fiscal-monetary policy co-ordination
Financial markets infrastructure services – wholesale: Bloomberg
Tech firm helped Nigeria and Sri Lanka’s central banks to build essential FX market infrastructure, and Portugal and Ukraine’s treasuries to optimise debt auctions
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