Trade
Defending the basis
Benefits of additional Treasury liquidity may outweigh potential intervention costs during a hypothetical panic, writes Joseph Wang
US-China trade is falling, Fed researchers find
Fall driven by advanced technology trade, but other US allies are not following suit, paper finds
UK financial institutions are ‘global public good’, says Bailey
BoE governor warns against fragmentation, criticises Brexit and discounts rate cuts
China slides back into deflation
Falling pork prices are a major drag on consumer prices
Digital yuan used to settle crude oil trade
Chinese oil company Petro China reportedly bought one million barrels of crude oil in digital yuan
Hong Kong and Thailand to set up cross-border payments link
New QR code payment link is the latest addition to similar initiatives in the region
Malaysian central bank holds rate
Inflation in Malaysia has slowed but the ringgit is under pressure
Book notes: The economic government of the world 1933–2023, by Martin Daunton
A deep dive into the politics, personalities, trade theory and trade practice of the era, but missing a crucial element: the collapse in the US stock of money
China sets up renminbi clearing bank in Laos
New currency clearing arrangement is China’s fifth in South-east Asia
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine
Book notes: Economists in the cold war, by Alan Bollard
A geographically balanced review of key economists that shaped the world economy
Argentine candidate promises opposition seats on BCRA board
Massa promises to renegotiate IMF loan as country heads to the polls on October 22
Somalia’s Abdullahi on the challenges of re-integration with the international system
The Central Bank of Somalia governor speaks about capacity building, reintroducing the shilling, securing donor support and climate change
Bolivian reserves reaching critical levels, say experts
Central bank is depleting gold stocks to pay debt while monetary financing continues
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
Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, and the need for explicit legal definitions for digital money