Capital controls
The SDR as an alternative to the dollar
The weaponisation of the dollar by US authorities represents an opportunity to reconfigure usage of the SDR, argues Warren Coats
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
Book notes: Our dollar, your problem, by Kenneth Rogoff
An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency
Ex-OCC chief Michael Hsu on the impact of an America-first agenda
The former acting comptroller of the currency speaks with Christopher Jeffery about the future of the US Treasury market, Fed independence, financial de-regulation, the Genius Act and international co-operation
Book notes: Smart money: how digital currencies will win the new Cold War, by Brunello Rosa with Casey Larsen
This alarmist book, although lacking nuance, provides a lucid account of how CBDCs could play a decisive role in geopolitical dominance
Malaysia’s Zeti on the key skills needed to be a successful central banker
The Bank Negara veteran speaks about leadership skills, lessons from the AFC and 1MDB crises, her scepticism of inflation targeting, and how the Asia School of Business' masters synthesises theory with practical realities
Ukraine moves to curtail capital flight
NBU says changes will support defence, business and “nuclear insurance pool”
Malaysia’s Rasheed expects a “bumpy road” for EM currencies
Governor Abdul Rasheed Ghaffour says BNM will intervene if needed ahead of future Fed cut; rules out capital controls but has encouraged institutions to repatriate earnings
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
BdF paper looks at what new global currency would need
Unified debt market would go “some way” to internationalising the euro
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
BIS paper explores interaction of macro-pru and capital controls
Macro-prudential policy can “leak” at higher levels of financial development, authors find
BCRA requires prior approval for all FX requests
Virtual freeze on exchange as Pesce and other directors make way for Milei’s picks
IMF: Argentina needs ‘a strong and credible central bank’
Central bank caps banks’ FX holdings ahead of Milei inauguration on December 10
Milei confirms Santiago Bausili as BCRA pick
Appeals court recently dismissed conflict–of-interest charges against governor-designate
Malawi imposes capital controls after devaluation
Central bank devalued kwacha by 30% against US dollar last week
US sanctions Russia-linked investment bank in Hungary
Orbán government withdraws from lender called “spy bank” by opponent
Egypt restricts foreign currency credit card payments
The move comes after the central bank restricted debit card use abroad
Nigerian senate confirms governor and deputies
President’s nominees took over as acting officials last week after former deputy governors resigned
Macro-pru tools can cut risk of credit bust – IMF paper
Authors explore whether building buffers can increase resilience over the medium term
Reports of cash restrictions in Niger
West African central bank froze relations and closed local offices after July 26 coup