Sterling
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
Sterling’s fall boosted UK inflation - San Fran Fed paper
Prices of tradeable goods rose significantly more than non-tradable goods, researchers find
BoE’s Ramsden calls time on Libor use
Deputy governor says progress on transition to Sonia benchmark needs to accelerate
How Singapore manages its reserves
MAS managing director Ravi Menon explains Singapore’s total approach to reserve management, which includes the use of customised fixed income benchmarks and tapping into external investment expertise
Central banks disagree over cash regulation
The BoE has issued legislation demanding banks supply certain denominations, but other regulators remain on the fence about how they should manage the future of cash
Canadian deputy governor explains reserves regime
Floating exchange rate, asset-liability matching and liquidity focus do not demand bigger portfolio
Central bank of the year: Monetary Authority of Singapore
Singapore’s central bank stands out for its pioneering fintech efforts combined with its consistency of performance in monetary policy, financial stability and supervision
Brexit unlikely to affect sterling’s reserve currency status
No-deal scenario could put major downward pressure on the currency
Key Brexit vote complicates outlook for UK economy
Vote this evening leaves UK’s political and economic future uncertain; analysts optimistic on outlook for sterling
Riksbank to add Norwegian and Danish krone to reserves portfolio
Change responds to banks’ liquidity requirements in these Scandinavian currencies
BoE launches comms push as it seeks face for £50 note
Central bank seeks boost to public engagement from nominations and ‘Future Forum’
Hurdles remain for euro as international reserve currency
Dollar’s incumbency, institutional deficiencies and rise of the renminbi hamper the euro’s progress
The Bank of England’s missing records
Central banks need to implement robust archiving frameworks, should they want to maintain public trust and learn from the lessons of the past, writes former Bank of England official historian Forrest Capie
Central banks still value diversification, say reserve managers
Rise in US yields does not outweigh the benefits of forex diversification, say delegates attending Nalm Americas
Book notes: How global currencies work, by Barry Eichengreen, Arnaud Mehl and Livia Chiţu
A comprehensive introduction to the history of global reserve currencies, with analysis of how advances in technology and the structure of trade have reshaped the landscape
BoE opens door to May rate hike
MPC votes to keep current policy stance, but notes more positive inflation outlook; policy may now need to be tightened “by a somewhat greater degree”
UK inflation breaks out of target band
Inflation now above the BoE’s 3% upper limit, though breach may prove temporary
Most UK banks withstand ‘disorderly Brexit’ stress tests – BoE
Majority of banks unfazed by tests “more severe than the financial crisis”, but a few struggle with lingering issues
BoE paper scrutinises 2016 sterling flash crash
Paper makes detailed study of the “flash episode”, concluding later price drops were abnormal
BoE working paper examines ‘exorbitant privilege’ benefits
Economist analyses whether the UK enjoyed the same benefits as the US when it was the pre-eminent issuer of a global reserve currency; findings show fundamental differences between the two in terms of investment patterns
Sterling depreciation will increase pace of tightening, BoE says
Inflation will overshoot target for longer period, reveals latest Inflation Report, but raising rates will not help, BoE says; “extraordinary circumstances” call for delicate balancing act
Sterling shorts could see sharp unwinding on Brexit day
As the start of the negotiation process between the UK and EU approaches, an already weak sterling faces more tests
Exporters’ ‘sweet spot’ unlikely to be enjoyed for long, says BoE’s Broadbent
BoE deputy investigates cause of sterling’s Brexit depreciation, examining potential impact of market speculation
BoE’s Jackson: need to intervene on market function still an open question
Head of forex and reserves management discusses evolving understanding of flash events, market structure, and whether there is a case for further intervention