US Treasury FXR substantial improvement on Trump, How to avoid Asian monetary tantrums
Latest opinion and analysis from OMFIF around the world
19-23 April 2021, Vol.12 Ed.16
US Treasury FXR substantial improvement on Trump: In the first foreign exchange report released under Secretary Janet Yellen, the US Treasury appears to be calling for a welcome timeout on ‘manipulation’ designations, while keeping this option open for the future. In contrast with the previous administration’s FXRs, this report is less bellicose, emphasises multilateralism over bilateralism and shows greater appreciation for the nuances and diplomacy of international finance. But problems remain, writes Mark Sobel.
How to avoid Asian monetary tantrums: Asia’s central banks must start confronting post-pandemic considerations. Economic normalisation is still a way off, but currencies and property markets have soared. As we enter the second quarter of 2021, it may make sense for regional central banks to be patient, writes Taimur Baig. Read more.
Global Financial Stability Report overview: The IMF responded swiftly to Covid-19 by implementing emergency measures and adjusting its assessments, but what do those assessments look like now? Fabio Natalucci, deputy director of the monetary and capital markets department at the IMF, discusses the fund’s Global Financial Stability Report and its outlook. Watch.
In focus: DMI Journal and Symposium: OMFIF’s Katie-Ann Wilson and Bhavin Patel discuss the forthcoming DMI Journal and offer a sneak peek into what you can expect at the DMI’s inaugural Symposium on 28-29 April. The Journal covers the latest developments in the payment space, while the Symposium features discussions on CBDC, stablecoins, regulation and more. Listen.
Accelerate the UK’s CBDC, beware Britcoin: The UK has an opportunity to garner the benefits of a central bank digital currency, see off looming threats and build a critical element of its 21st century digital infrastructure. The UK’s CBDC plan doesn’t need headline-grabbing slogans or marketing gimmicks. It requires substance and speed, writes Philip Middleton. Read more