Trade
Global supply chains undergoing “great reallocation”, expert says
Mexico is biggest winner from US trade shift, economist tells Atlanta Fed conference
Trends in reserve management 2024: survey results
Insights on geopolitical risk, AI, asset diversification, risk management and ESG adoption
Iran says it will start trading with Russia in rials soon
Central bank claims channel could support $1.5bn transactions but expert is sceptical
BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
The BIS’s Asia chief speaks with Christopher Jeffery and Jimmy Choi about supporting liquidity, financial stability and innovation in the Asia-Pacific region
Monetary policy shocks ‘amplified by financial integration’
Expansionary policy in one country leads to contraction in another, BoC researchers find
China ‘gradually decreasing import dependence’
However, Fed research says reliance on export markets precludes any de-linking from global economy
Book notes: Easy money, by Dror Goldberg
Interesting interpretations but hard to view 1690s Massachusetts paper as the invention of modern currency
Spike in oil prices ‘could boost South Korean economy’
BoK researchers say a rise driven by higher global economic activity might boost domestic growth
Governance and diversity at the Federal Reserve
Could changes in governance practices have contributed to poor performance in 2021–22? asks Jeffrey Lacker
The risks facing the Chinese economy
China isn’t at risk of a financial meltdown, but it does face a slow puncture, writes Michael Taylor
Russian and Iran central banks increase co-operation
Sanctioned countries agree to use own currencies for trade as lenders set up credit line
Bolivia reserves shortage worsens
Fuel runs short as ex-governor says government “does not want to recognise” crisis
Indonesia and South Korea to launch cross-border settlement
Bank Indonesia has been a leader in boosting the use of local currency for cross-border trade
Managing reserves amid climate change and home-shoring
Central banks can still make asset allocations with solid climate outcomes, despite slippage in the net-zero timetable, writes Gary Smith
Defending the basis
Benefits of additional Treasury liquidity may outweigh potential intervention costs during a hypothetical panic, writes Joseph Wang
US-China trade is falling, Fed researchers find
Fall driven by advanced technology trade, but other US allies are not following suit, paper finds
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
China slides back into deflation
Falling pork prices are a major drag on consumer prices
Digital yuan used to settle crude oil trade
Chinese oil company Petro China reportedly bought one million barrels of crude oil in digital yuan
Hong Kong and Thailand to set up cross-border payments link
New QR code payment link is the latest addition to similar initiatives in the region
Malaysian central bank holds rate
Inflation in Malaysia has slowed but the ringgit is under pressure
Book notes: The economic government of the world 1933–2023, by Martin Daunton
A deep dive into the politics, personalities, trade theory and trade practice of the era, but missing a crucial element: the collapse in the US stock of money
China sets up renminbi clearing bank in Laos
New currency clearing arrangement is China’s fifth in South-east Asia
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine