Trade
Will the use of CBDCs improve cross-border payments?
International trials using CBDCs highlight significant architectural and practical challenges, writes Warren Coats
IMF and World Bank to go ahead with Marrakech meetings
Leaders say they wish to stand by Morocco after earthquake killed nearly 3,000
Myanmar official says Mir payments will launch in October
Central bank leader had predicted the Russian card would start circulating last year
Book notes: Bold vision, by Freddy Orchard
Largely uncritical insights about the formation of the GIC and Singapore’s currency regime
Taiwanese governor flags US sanctions risks
Yang says Taiwan should pay attention to the widening trade surplus with US
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
Malawi raises rates as inflation continues climbing
Russia-Ukraine war and adverse weather events exacerbating food inflation
Argentina reaches provisional agreement with IMF
Fund may continue loan despite non-compliance and ease reserve targets
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
Stronger US dollar hits emerging countries more, says IMF
Credible monetary policy frameworks are key to cushion external shocks, report argues
Russian central bank raises rates and warns of more to come
Nabiullina says inflationary pressures are rising and warns of effects of bigger fiscal deficit
US Treasury bolsters ties with Vietnam’s central bank
Treasury secretary Janet Yellen says US will promote “friendshoring” with Vietnam
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
Bye-bye BCRA?
An Argentine presidential candidate proposes abolishing the central bank and the peso
Papua New Guinea’s Genia rejects calls for devaluation
IMF says kina is heavily overvalued
IMF extends food shock window despite low demand
Fund postpones end to looser caps on emergency credit
Argentina increases use of Chinese currency
Authorities repay IMF in renminbi, and allow it for local current and savings accounts
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Campos Neto repeats opposition to common currency
Digital payments have outstripped benefits of “very old idea”
Iceland raises rates 125bp to head off ‘wage-price spiral’
MPC orders largest increase in two-year tightening cycle as inflation remains near 10%
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars