Growth
Trends in reserve management 2025: survey results
Insights on strategies in anticipation of tariffs, interest rate divergence and geopolitical risk, FX diversification and de-dollarisation, as well as bitcoin in reserves, FX interventions and gold
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
Growth in US CRE loans hits 11-year low – research
St Louis Fed study says developers responding to higher costs and lower demand
Muted consumer sentiment may not presage low US growth – study
Kansas City Fed research says people’s pessimism does not automatically mean they will spend less
Romania opts to hold, citing domestic and global uncertainty
Central bank cites fluctuating commodity prices, tariff risks and volatility resulting from national politics
Ukraine’s Andriy Pyshnyy on the US minerals deal, ongoing reforms and post-war plans
The National Bank of Ukraine’s governor speaks about managing inflation, financial sector reform, FX reserves, international aid and actions in the event of a peace deal
Bank of Mexico puts growth before prices with rate cut
Economists say decision reflects concerns about possible tariff-induced recession
EBRD outlook turns gloomy after US tariffs
“Not a very happy picture” for world economy, says institution’s chief economist
BoE governor gives optimistic forecast about scenario approach
Bailey says new method allows for better projections, given growing frequency of ‘black swans’
The cost of ‘US liberation’
Stephen Millard outlines NIESR’s latest analysis of the Trump tariffs, as risks tilt to the downside
Fed holds rates as experts sound alarm over stagflation
FOMC says risks have risen on both the employment and inflation sides of its mandate
Falling oil prices bode ill for Russia – Bank of Finland blog
Higher deficits may cause authorities to engage in monetary financing, says Heli Simola
Experts divided over contraction in US economy
Ex-NY Fed chief says latest figures are an anomaly, though others point to Trump policies’ impact
Eurozone fiscal policies grew real GDP, dampened inflation – ECB
However, Covid-era policies led to higher deficits and debt in years following pandemic, research finds
Strong economy will protect India from trade tensions – RBI
Bank derives optimism from service exports and lower food prices in latest State of the Economy report
IMF cuts forecasts as tariffs add to high uncertainty
World economic outlook sours after Trump tariffs
Researchers build ‘most comprehensive’ global macro database
Long-term data reveals financial crises can harm growth for half a century
Bank of Korea holds rates at 2.75%
Growth sluggish and inflation on target but central bank needs more time to judge tariff effects
Philippines resumes easing cycle with quarter-point cut
Inflation slows but growth risks increase amid “more challenging” external environment, BSP says
New Zealand makes rate cut in response to tariffs
RBNZ eases policy by 25bp and points to trade war’s downside risks to growth
‘Declaring war on the world economy’: economists react to Trump tariffs
Early estimates point to stagflation in US, as tariffs hit highest level since early 20th century
World Bank says Nepal’s economy will grow, despite shocks
Benign inflation and loose monetary policy to aid growth, says institution
Kganyago continues push to lower Sarb inflation target
Economists back South Africa’s central bank governor, but finance minister remains sceptical
Mexico’s central bank cuts rates by 50bp
Economist says last month’s uptick in inflation means Banxico should have held