This blog is based on a presentation made by Hanno Lustig at the SEACEN Policy Summit on 5-6 February 2026. For much of the postwar era, the supremacy of the U.S. dollar has been treated as a permanent feature of the international monetary system. However, recent shifts in global finance suggest that we are entering […]
Tag Archives: central banking
Macroeconomics and Monetary Policy
Rethinking the Dollar: The International Monetary System at a Crossroads
26
Feb
Feb
This blog is based on a presentation made by Jeffrey Frankel at the SEACEN Policy Summit 2026: The Future of the International Monetary System and the Role of Asia (5– 6February 2026). The Dollar’s Legacy and Its “Exorbitant Privilege” The U.S. dollar supplanted the British pound as the dominant international currency in the 20th century. […]
20
Feb
Feb
Stablecoins have become one of the most debated topics in contemporary financial policymaking, especially following the enactment of the GENIUS Act in the United States. Beyond the U.S.—and outside monetary jurisdictions whose exchange rate regimes and monetary policies are closely aligned with the U.S. dollar—policy responses have diverged significantly, ranging from outright bans, as in […]
Macroeconomics and Monetary Policy
Not All Fiscal Cuts Are Created Equal: Why Fiscal Multipliers Matter for Central Banks?
05
Dec
Dec
1. Introduction: Why Fiscal Multipliers Matter for Central Banks? As of September 2025, global public debt soared to $251 trillion, roughly 235% of world GDP (IMF, 2025). Across Asia, governments are under pressure to tighten their budgets to ensure debt sustainability. However, for central banks charged with safeguarding economic and price stability, how those fiscal […]
Financial Stability
The Adoption of AI in SEACEN Member Central Banks and Considerations for Financial Stability
21
Nov
Nov
The purpose of this blog is to explore the adoption of AI in SEACEN’s member central banks (MCBs) and explore the risks to financial stability, and how central banks and regulators should respond.
Financial Stability, Payment Systems
A Streetcar Named “Retail CBDC”: Should Central Banks Get on Board?
24
Jul
Jul
1. Introduction A Central Bank Digital Currency (CBDC) has emerged as one of the most significant trends reshaping the global financial landscape. Central banks around the world are actively exploring this innovation, with the latest BIS survey in 2024 revealing that 94% of the 86 surveyed central banks are investigating CBDCs. This movement resembles a […]
Financial Stability, Payment Systems, Supervision
Trends Shaping the Payment and Financial Landscape in Southeast Asia: A Forward-Looking Perspective
10
Apr
Apr
This blog highlights the key trends shaping the region’s payment and financial landscape and discusses their implications for financial institutions, regulators, and consumers alike. Southeast Asia’s payment landscape is evolving at an unprecedented pace, driven by rapid technological advancements, regulatory developments, and shifting consumer behaviors. The pandemic-induced acceleration of digital transformation has further propelled the […]
14
May
May
Introduction There is a fair degree of consensus that in order to prevent the worst climate damages, global net emissions of carbon dioxide need to fall by about 45 per cent from 2010 levels by 2030, reaching net zero around 2050. To curb the adverse effects of global warming, the Intergovernmental Panel on Climate Change […]
14
Dec
Dec
Future-ready central banks In the words of Christine Lagarde, ‘central banks must provide for stability in an age that is anything but stable’. Central bank leaders throughout the world are increasingly acknowledging that we are now living in the age of disruption and that one of our key priority areas must be ensuring our future […]
- 1
- 2