Exchange rate
The complex art of reserve management
Lockdown represents another inflection point for central banks managing $12 trillion in FX reserves
PBoC’s post-pandemic policy is still up in the air
China's central bank has resisted radical easing, but this could change after NPC meeting
CBRT battles external imbalance with dwindling reserves
Turkish central bank loses battle to keep lira under 7 as reserves shrink, but pressures may be easing
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Sarb cuts rates to historic low
Unanimous decision comes as growth outlook and inflation forecasts revised
Transfer season
Trade frictions with the US have caused a mass industrial transfer to China’s neighbours. Zhou Chengjun, IFF Academic Committee member and inspector of the Macro‑prudential Policy Bureau of the People’s Bank of China, says that shouldn’t stop China…
Crises enliven ‘totalitarian temptations’
Coronavirus pandemic will embolden government ‘power grabs’
Indonesia gains ‘second line of defence’ from $60 billion Fed repo
Bank Indonesia secures repo with NY Fed to boost dollar liquidity and shore up rupiah
Central banks may have to become ‘dealers of last resort’ – BIS economists
EMEs have not overcome “original sin” by deepening local currency bond markets, authors warn
Should the Fed be next to implement yield curve control?
RBA joins BoJ in effort to control longer-term rates
Is there a dollar funding squeeze in China?
China could benefit from joining the Fed’s dollar swaps network but political obstacles bar the way
Singapore eases monetary policy sharply and taps reserves
MAS flattens currency appreciation slope to zero after government unveils $34 billion stimulus
IMF and Yale provide data on virus responses
IMF site provides information on G20 country responses to virus
ECB paper looks at euro exchange rate shocks
Exogenous exchange rate shocks having more impact on eurozone inflation, researchers find
US dollar has become ‘risk barometer’ – BIS economists
Role of dollar has changed since 2008 due to major changes in global financial sector, authors say
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime
BoE ramps up corporate and government bond-buying
Central bank launches new £200 billion package of QE plus rate cut and more liquidity
Central banks and banks: a changed relationship
Development of large, complex international capital markets has reshaped relationship between central and commercial banks
Russian central bank responds to virus and oil shocks
Bank of Russia announces liquidity boost and new risk weighting for companies hit by coronavirus
Bank of Thailand relaxes forex regulation amid virus shock
Thai central bank is expected to ease monetary policy again
What can the ECB do now?
Central bank is facing coronavirus shock with limited room for further policy measures
Ghana’s Addison on banking reform, innovation and the future of the eco
Bank of Ghana governor says Ghana is unlikely to join eco anytime soon
Did the Riksbank abandon negative rates too soon?
Policy-makers face difficult choices if inflation does not recover soon
Do low rates spur investment?
Former IMF head writes there is little hard evidence that low interest rates spur investment