In response to the surge in gold imports to meet demand for a hedge against inflation, the government is relaunching the Sovereign Gold Bond Scheme, first introduced in 2015. By making it more accessible to retail investors, the scheme should have some success, but the impact on the current account deficit is likely to be small.
Asia Drop-In (30th June, 09:00 BST/16:00 SGT): Are Asia’s central banks behind the curve? Can the Bank of Japan and People’s Bank of China continue to go against the grain? Find out in our special session on what global monetary tightening looks like in Asia. Register now.
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