Spillovers
The risks and returns of ever-expanding swap and repo lines
Increase in central bank swap agreements and repo facilities should help to counter future liquidity squeezes. But the proliferation is fraught with political risk
Divergence from global cycles gives Asia policy room – Amro
Change may allow Asean+3 central banks to focus on domestic rather than global conditions, report says
Rising defence spending could boost European growth – ECB
But macroeconomic benefits depend on cutting personnel costs and imports
Zombie firms in Asian EMEs cause disinflation in AEs – study
Spillover is transmitted to advanced economies via trade channels, BIS report says
Iran war poses ‘material but manageable risk’ to stability – BSP
Regulators say Philippines’ banks resilient to systemic financial stress while highlighting cyber threats
The next financial crisis may start outside the banks
The warning signs are multiplying and the window for preventive action is narrowing, writes Stijn Claessens
BoK holds as Shin signals rate hikes to come
Governor says tech growth to outweigh drag of Middle East conflict
Helder Lopes on Timor-Leste’s transformation now the oil has run out
The Central Bank of Timor-Leste (BCTL) governor speaks to Chris Jeffery and Jono Thomson about dollarisation amid US policy unpredictability, managing legacy Petroleum Fund investments, Asean membership, digitalisation and financial deepening, and a long…
BIS paper sounds alarm on gaps in crypto intermediary regulation
International co-operation a challenge as expanded activities risk contagion, authors say
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
Geopolitics, crypto and inequality are systemic risks – ESRB panel
Geopolitical risk is shaping markets, institutions and the financial system, says Olli Rehn
Bailey, the IMF and the fundamental asymmetry problem
The IMF must address sovereign asymmetry and transform surveillance into a tool for mutual accountability, argues Biagio Bossone
Trump’s tariffs and the emerging market economies
Steve Kamin says EMEs are likely to escape the worst outcomes from capricious and chaotic trade policy
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
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
EMs resilient to US monetary spillovers, panellists say
Turkish and Thai governors discuss policy challenges at IMF conference in Saudi Arabia
UK economy vulnerable to Trump tariffs – BoE’s Greene
MPC member says US has outsized financial impact as biggest single-country trading partner
IMF team builds new multi-country semi-structural model
G3MOD designed for frequent analysis by central banks of trade and financial links
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
Small economies still trigger ‘substantial’ spillovers – IMF paper
New data on monetary policy shocks allows economists to track cross-border impact
Lessons from the banking turmoil of 2023
Guardrails on capital, liquidity, deposit insurance, resolution, digitalisation and disintermediation need a rethink