Spillovers
Fund structures are ‘a big issue’ for monetary system – Carney
Immediate redemptions risk amplifying capital flow volatility
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail and use of CCyBs, highlights challenges of an asymmetric monetary system, hits out at cumbersome payments and warns Facebook’s libra cannot ‘learn as…
IMF’s IEO outlines plan for capital flows evaluation
Some countries say the fund may now be too quick to endorse capital flow restrictions
BIS research documents high concentration of cross-border credit
Big banks dominate global credit, which matters for global spillovers, authors say
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
The turmoil test for emerging and advanced economies
Greater integration between advanced and emerging market economies during globalisation has made both more susceptible to risk of spillover – financial contagion and volatility. As the US continues to normalise its monetary policy, deputy governor of…
BIS to launch ‘innovation hub’ – Carstens
New medium-term strategy focuses on technology and other innovations
Fed must account for spillovers of monetary policy – Yellen
Janet Yellen reflects on Fed monetary policy and “treacherous” currency manipulation in Brookings podcast
Advanced economies suffer greater spillovers – BIS research
Study examines extent to which various central banks cause and suffer policy spillovers
Riksbank urges introduction of 5% leverage ratio
Sweden’s central bank sounds the alarm to fellow supervisor, urging action as housing market uncertainties begin to threaten financial stability
RBI steps in to tackle liquidity crunch
Central bank steps up market operations as financial markets wobble
Monetary policies spill over to currencies, BIS paper says
Paper examines impact of multiple monetary policies on cross-border bank lending
Foreign monetary policy affects French and Italian lending – researchers
US policy especially significant, Banque de France paper finds
Ghana under pressure from Fed hikes – governor Addison
US policy normalisation sends Ghana’s inflation into double figures while the currency falters
Fed policy’s global effects differ in booms and busts – BIS paper
Monetary policy appears to impact global bank lending differently depending on the “regime”
Central bank digital currency of no benefit to financial stability – RBNZ research
CBDC could make New Zealand’s banking sector more susceptible to spillovers
Trump’s fiscal policy threatens emerging markets – Lagarde
Looser fiscal policy could increase market volatility and worsen global imbalances- IMF chief
BIS report urges tighter global macro-pru co-ordination
Deputy general manager says global institutions could do more to promote co-ordination between advanced economies and “systemic middle-income countries”
Balance sheet features impact global spillovers – NY Fed paper
International research effort finds banks’ business models affect the extent to which policy spills across borders
Tajikistan cuts policy rate as inflation stabilises
Central bank says inflation is more stable and falling, creating room for cuts
BoE not to blame for gold standard-era crises in US – paper
Bank of England’s rate decisions between 1884 and 1913 were not responsible for “causing or aggravating” crises in the US, author finds
Global uncertainty increases financial interconnections – paper
Researchers use a network approach to evaluate financial interconnectedness
Fed paper examines financial spillovers of US monetary policy
Authors find that conventional and unconventional policies create different spillover effects