Sonya Zhu

Economist

Monetary and Economic Department, Financial Stability Policy

Sonya Zhu joined the BIS in 2021. Her research interests are empirical asset pricing, monetary policy and international finance, with a particular focus on the interplay between monetary policy and financial markets. Sonya holds a PhD in finance from the Stockholm School of Economics.

Fields of interest

Financial markets
Monetary policy
International finance

All BIS publications (12)

BIS Working Paper No 1079 6 Mar 2023

Volume dynamics around FOMC announcements

The stock market volume decreases in anticipation of FOMC announcements and increases afterwards. I develop a stylized model…

Covid, central banks and the bank-sovereign nexus

Publication 27 Feb 2023

Covid, central banks and the bank-sovereign nexus

Increased sovereign debt and bloated central bank balance sheets reshaped the links between banks and sovereigns after the…

and

Under pressure: market conditions and stress

Publication 19 Sep 2022

Under pressure: market conditions and stress

When financial markets come under pressure, vital functions such as the efficient allocation of capital and price formation…

Iñaki Aldasoro

,

and

All external publications (6)

External publication 22 Dec 2025

Macroeconomic news and repricing of monetary policy expectations

and

External publication 5 Nov 2025

How AI can help detect warning signs of financial market stress

Andreas Schrimpf

,

Matteo Aquilina

,

and

External publication 1 Mar 2025

Measuring International Economics: 100 Years Balance of Payments in Germany

By

Goetz von Peter

,

Patrick McGuire

and

External publication 12 Dec 2024

Enhancing central bank communication: domain-specific language models

Leonardo Gambacorta

,

Byeungchun Kwon

,

,

and

External publication 31 Dec 2023

Non-Standard Errors

and

External publication 31 Oct 2023

The term structure of inflation forecasts disagreement and monetary policy transmission

,

Alessandro Barbera

and

All videos (1)

00:01:50

Covid, central banks and the bank-sovereign nexus

Video 27 Feb 2023

Covid, central banks and the bank-sovereign nexus

Increased sovereign debt and bloated central bank balance sheets reshaped the links between banks and sovereigns after the…

By

and

All podcasts (1)

Podcast 19 Sep 2022

Under pressure: market conditions and stress

How can policymakers detect future stress risk in financial markets? Our staff developed new market conditions indicators for…

By

Iñaki Aldasoro

and

0:00 0:00

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