Oil
RBA governor says conflict may require monetary policy response
Bullock says board considering potential supply shocks amid already high levels of inflation
Middle Eastern central banks respond to Iran crisis
Israel unveils relief package for firms and citizens, while Turkey suspends repo auctions
Asian central banks monitoring FX volatility amid oil shocks
Indonesia, Singapore and India look to manage inflationary pressures from war in Middle East
Monetary policy in Asia since the pandemic
Asean+3 nations must plan to tackle ‘disturbance’, ‘structural’ and ‘radical’ uncertainty using a disciplined policy mix to preserve price stability amid global shocks, writes Dong He
Dallas Fed researcher cautions against expansionary policy
Study of US in the 1970s says oil shocks were not primary driver of inflation
Venezuela: a crude awakening?
Capture of Maduro opens new chapter for troubled economy and its central bank
Serbia vows to ‘prevent unjustified pressure’ on FX market
Central bank says it will fight for stability as crisis prompts citizens to swap dinars for euros
Serbia says sanctions on Russia pose financial stability risks
Central bank sounds warning as government threatens to divest Russian stakes in domestic oil refiner
Poland cuts rates, while Albania and Sweden hold
Riksbank warns of US stock market bubble
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
Oil shocks create ‘persistent’ labour downturns – IMF paper
Gains for oil-exporting countries are “comparatively modest”, say researchers
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
BoE holds rates, as three MPC members call for cut
Dissenting policy-makers highlight labour market weakness and lower pay 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
Falling oil prices bode ill for Russia – Bank of Finland blog
Higher deficits may cause authorities to engage in monetary financing, says Heli Simola
Nabiullina: still Putin’s most effective general
Even Russia’s enemies say its central bank governor has played a bad hand well. But for how much longer?
US dollar dominance: beyond the ‘exorbitant privilege’
Biagio Bossone argues that dollar ‘seigniorage’ extends into the very structure of global finance and its ‘exorbitant privilege’ is worth up to $804 billion annually
The interest rate dilemma in an uncertain world: a balancing act
Biagio Bossone makes the case for a holistic policy approach that includes extending IT tolerance bands, smart fiscal policies, supply-side reform and financial safeguards
‘Dark’ oil shipping impacts inflation – paper
Research finds nearly 43% of seaborne crude is shipped undercover to evade sanctions
Oman names new central bank governor
Bank CEO takes the helm at Gulf state’s central bank
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
No systemic link between dollar and oil price yet – ECB paper
Increasing value of crude no longer weakens greenback, but does not “significantly” lift currency
Mamo Mihretu on the radical reform of central banking in Ethiopia
Ethiopian governor speaks about simultaneous monetary policy and exchange rate reform, opening the country’s financial system and a fundamental reset for Africa’s second most populous economy