During the pandemic, central banks in both advanced and emerging market economies took unprecedented measures to ease financial conditions and support the economic recovery, including interest-rate cuts and asset purchases. With inflation at multi-decade highs in many countries and pressures broadening beyond food and energy prices, policymakers have pivoted toward tighter policy. As our Chart of the Week shows, central banks in many emerging markets proactively started to hike rates earlier last year, followed by their counterparts in advanced economies...

Read more

Technology, Innovation, and Financial Services, speech by Governor Michelle W. Bowman at the VenCent Fintech Conference, Little Rock, Arkansas | Thank you, Commissioner Marshall, for the invitation to speak to you today. It's really a pleasure to be here, finally in person at the Venture Center.1 Much has happened over the past few years, and I have been following your work closely. Technology Is Changing Financial Services Technology and innovation are a priority interest for my work at the Board of Governors....

Read more

Sharing the risks between public and private sectors would direct a greater share of the world’s financial assets to climate projects. Climate change is one of the most critical macroeconomic and financial policy challenges that IMF members face in coming decades. The recent spikes in the cost of fuel and food—and the resulting risks of social unrest—underline the importance of investing in green energy and boosting resilience to shocks. It will require massive global investments to address the climate challenge and...

Read more

As of today, the EU has coordinated the delivery of 66,224 tonnes of in-kind assistance to Ukraine from 30 countries via the EU Civil Protection Mechanism. The assistance delivered includes 180 ambulances, 125 fire-fighting vehicles, 300 power generators, 35 heavy machinery vehicles, and 4 pontoon bridges. This is by far the largest, longest lasting and most complex operation via the EU Civil Protection Mechanism since it was established in 2001, with an estimated value so far of over €425...

Read more