Emerging markets
Chile’s De Gregorio discusses how to tackle asset-price bubbles
Central Bank of Chile governor José De Gregorio says distortions in asset markets are often best addressed using foreign exchange interventions
Time for timidity has passed, says Lagarde
Christine Lagarde calls for action from developed and emerging economies; tells Russia to rebuild fiscal buffers
Interview: George Milling-Stanley
As George Milling-Stanley leaves his role as managing director, government affairs at the World Gold Council, he summarises gold market trends and its role in central banks' reserve portfolios
Emerging market monetary policy is a balancing act: Sarb’s Mminele
South African Reserve Bank deputy governor Daniel Mminele says monetary policy is delicate balancing act in current environment of elevated inflation risks and slow global growth
G-4 liquidity caused surge in captal inflows: IMF paper
IMF study attributes recent increase in capital inflows towards emerging markets to highly accommodative monetary policies in G-4 countries
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly in emerging markets
G-20 commits to ‘strong and co-ordinated’ response to challenges
G-20 answers calls for united action; countries commit to implementing credible fiscal consolidation plans, and ensuring strong, sustainable and balanced growth
Developing country representatives lament poor banking oversight
Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development says IMF surveillance of financial institutions is scuppered by weak implementation framework and practices
RBI’s Subbarao on scaling up corporate governance in emerging markets
Reserve Bank of India governor Duvvuri Subbarao says banks’ special role as financial intermediaries requires special corporate governance rules
ECB paper on changing trend of capital inflows
European Central Bank study shows capital inflows globally have been driven by a variation of pull and push factors since the crisis
BIS must continue to evolve: Caruana
General manager, Jaime Caruana, says BIS must continue to adapt to a changing world; working to incorporate emerging economies effectively
Strong financial conditions ease sale declines: Fed paper
Federal Reserve study shows firms in good financial condition experience a smaller decline in sales during the crisis
EMEs more sensitive to risk premiums: IMF paper
IMF study shows a lower risk premium can reduce inflation in emerging economies
IMF study on financial frictions in EMEs
Fund paper shows developing economies are more exposed to financial frictions than emerging markets
NY Fed’s Dudley urges collaboration in tackling global imbalances
New York Federal Reserve president William Dudley says imbalances in growth between United States and emerging economies are unsustainable in long term
Norway’s Olsen calls for shift in SWF investments towards EMEs
Norges Bank governor Øystein Olsen says decision to review investment strategy of government sovereign wealth fund is “advisable”
IMF re-examines link between exchange and inflation rates
IMF examines link between nominal exchange rate and inflation
Rebalancing of global economic policy urged: ECB’s Stark
Stark calls for “a fundamental change in economic mindset across the global economy”
Mexico buys 93 tonnes of gold
Bank of Mexico raises gold holdings by more than 93 tonnes in March; follows trend of other emerging market central banks
IMF urges emerging markets to tighten monetary policy
IMF Regional Economic Outlook for Asia report says emerging market central banks must tighten monetary policy to stave off inflation; acknowledges limitations of monetary tools
Algeria’s Laksaci warns against advanced economy risks
Bank of Algeria governor Mohammed Laksaci says sluggish growth in advanced economies is creating uncertainty over global recovery
Central bank reserve managers recoil at sovereign risk
Central Banking Publications survey finds fears over sovereign risk led reserve managers to limit or cut exposure to “peripheral” European countries; impact also felt in attitudes towards the euro
‘Disquieting developments’ in ETFs warrants attention: FSB
Financial Stability Board warns of potential issues arising from recent trends in exchange-traded funds (ETFs)
Bank’s Haldane warns capital inflows may overwhelm emerging markets
Bank of England executive director for financial stability Andrew Haldane says rapid rate of investment in emerging markets could lead to financial instability