US dollar
Book notes: King dollar, by Paul Blustein
A well-researched overview of the position of the US currency, providing an optimistic view on the future of ‘king dollar’.
China to discuss stablecoins at cabinet level – report
Experts say allowing stablecoin issuance in mainland China unlikely to speed up yuan internationalisation
The Genius Act: a smart move for global payments?
Experts from the stablecoin industry discuss if new US law can live up to its name
Tariffs only partly explain April’s volatility – BIS paper
Movements in dollar and Treasury term spread driven by other factors, authors say
Is this time different for Argentina?
Reserve shortage and overvalued currency cast a pall over an otherwise successful stabilisation campaign
Trump’s tariffs and the emerging market economies
Steve Kamin says EMEs are likely to escape the worst outcomes from capricious and chaotic trade policy
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
Elizabeth McCaul on supervision, new macro-dynamics and investing in suptech
Former ECB Supervisory Board member speaks about Covid-19 and Credit Suisse shocks, regulation debates, the rise of non-banks and what makes tech projects succeed
Ex-BCRA chief: Argentina missed window to rebuild reserves
Authorities could have bought more dollars during prime export season, argues Martín Redrado
Boris Vujčić on Croatia’s economic journey, the digital euro and the Governing Council
The Croatian National Bank (HNB) governor speaks with Christopher Jeffery about managing financial risks, the pros and cons of euro adoption, payment system reform and the use of real-time data
Book notes: The young Fed, by Mark Carlson
A thoughtful book on an important topic and a less widely studied period of US financial history from which every central bank economist could learn
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
Hong Kong intervenes to protect currency peg
HKMA sells US$1.2 billion at HK$7.85 to the dollar as local currency hits weak end of FX band
FX hedging behind April’s dollar slide – BIS bulletin
Treasury sell-offs not correlated with greenback’s depreciation, authors argue
Tariffs cannot fix US trade deficit, says Taiwanese governor
Central bank chief flags stateside fiscal risks but says dollar-based order still intact
Paraguay’s Carvallo Spalding on resilience and cutting its inflation target
The Central Bank of Paraguay (BCP) governor speaks about lowering the inflation target to 3.5%, opening up to foreign investors and promoting inclusion through digital payments
Regulatory confusion hinders euro stablecoins, says DRW founder
Conflicting interpretations of EU rules will divert more capital away from euro assets, says Don Wilson
PBoC’s Pan outlines vision for multi-currency international order
Governor describes SDR-based system in which major currencies would “co-exist and compete”
Central banks looking to re-orient to euro from US dollar – panel
“Geopolitics is here to stay”, reserve managers say, as “very gradual” de-dollarisation continues
Central banks value tokenisation for efficiency and security
Respondents see less value in crypto or stablecoin payments
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
Is the central bank gold rush over?
Has gold become too expensive to offer value as a diversification asset amid geopolitical turbulence?