Trade
MAS recognises first ‘significantly rooted’ foreign bank
Standard Chartered’s new status will give it some of the same privileges as locally incorporated banking groups
BIS’s Hong Kong innovation hub launches trade finance competition
Solutions need to help current trade finance platforms communicate with one another, and help SMEs and emerging markets take advantage of existing opportunities
CLS proposes second-tier FX settlement system
Stripped-back system for EM currencies mooted to tackle rising settlement risk
How vulnerable are EMEs to renewed Covid-19 turbulence?
Emerging markets face twin pressures from the health crisis and global financial forces, says Steve Kamin
IMF research highlights limits of exchange rate flexibility
New dataset sheds light on role of dominant-currency invoicing for exchange rate dynamics
After social distancing: prepare for national distancing
If the Covid-19 pandemic triggers a desire to onshore production, international capital flows will come under a new spotlight
BIS expands innovation hub network
Several new locations unveiled in Europe and North America
Research looks at possible East Asian trade deals
US and China stand to be worst off if trade war continues, Peterson Institute researchers find
IMF outlook worsens as pandemic intensifies
Fund warns of medium-term challenges for fiscal consolidation and trade
High US inflation should not be ruled out
A prolonged health crisis raises the risk that supply-side factors, monetary expansion and rising personal savings could stoke hidden inflationary pressures
Covid-19 may accelerate US firms’ turn away from China – New York Fed
Import data shows firms have used non-Chinese suppliers to replace some lost trade
Scale of Covid-19 impact shows up starkly in US stats
All of the US’s key macroeconomic indicators point to a dramatic slump
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
Is SDR issuance the best way to support low-income economies?
Economists and policy-makers are increasingly discussing the option as a way to boost liquidity in the fight against Covid-19
Trump’s NAFTA replacement could harm car production – Dallas Fed research
Authors say Mexico could face biggest loss from USMCA deal
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
El-Erian on Covid-19 policy risks, ‘zombie’ markets and central bank capture
Former Pimco chief says Fed move into high yield is a step too far, new rules needed on leverage and false liquidity, and narrow window emerges for central banks to shed some of their policy load
Kosovan central bank rolling out response to coronavirus shock
Governor Fehmi Mehmeti says economy is vulnerable but the central bank is taking action
Debelle: regulation could be ‘helpful’ to FX code
As EU weighs regulation of spot market, GFXC chair dismisses key industry argument
RBNZ reduces rates by 75bp in emergency meeting
Central bank says future purchases of government bonds preferable to lower rates
Book notes: The art of economic catch-up, by Keun Lee
Rather than merely catch-up, the book offers countries advice in making a sea change in their economic statuses
Bank of Canada follows Fed with coronavirus rate cut
It is “becoming clear” virus will impact growth more than previously expected, central bank says
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy, writes Sayuri Shirai
Bank of Ghana hails tech upgrade in forex market
Rollout of Refinitiv system should cut fragmentation and boost transparency, says governor