Trade
Book notes: The next age of uncertainty, by Stephen Poloz
This book provides a well-informed and well-argued view about our economic future
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
FSB outlines crypto and defi risks to financial stability
Future work will map “oracles”, “bridges” and other links with traditional finance
Bolivian central bank offers preferential rate for dollars
Dwindling reserves drive new measures to obtain foreign exchange and gold for central bank
Colombia’s Villar says tight policy necessary for future growth
Governor says inflation more stubborn than in neighbours, but will fall soon
Bank of Ghana adds 100bp as crises grind on
IMF reportedly wants end to central bank financing
Iran and Russia to link banking systems to bypass sanctions
Move follows Iran’s signing of free trade “memorandum” with Russia-led EAEU
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
Argentina and Brazil to begin studying common currency
Minister says countries are taking “first step” in project
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
Argentina activates Chinese swap lines
Central bank says move will boost reserves but observer says it is unlikely to strengthen peso
IMF’s Gopinath rewrites classic open-economy model
Mundell-Fleming model’s assumptions make it less useful for modern policy-making, economist says
Papua New Guinea flights grounded amid FX dispute
Central bank accuses fuel supply firm of failing to repatriate foreign exchange earnings
South Asia’s rapid progress under threat, IMF warns
Millions have escaped poverty but “bold” policies are needed to avoid backsliding
Tunisian governor warns country needs IMF deal after latest hike
Country faces rising inflation as foreign exchange dwindles and political crisis continues
Rates round-up: Turkey pauses rate cuts
Egypt hikes main rate 300bp after IMF deal; Indonesia decelerates tightening; and more
The rise of non-SDR currency reserves
New Cofer data release may show an overall fall in FX reserves, writes Gary Smith
Bank of Russia eases disclosure rules on digital asset firms
Moves designed to ease sanction pressure, as Nabiullina signals use of crypto for international trade
Should a CBDC really be like cash?
Electronic and physical cash are fundamentally different and must be treated as such, writes Dave Birch
Podcast: the effect of monetary policy on reserve management
Global rise in inflation is having an impact on central banks' reserve strategies
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large