Surprise resignation of the Governor of the Central Bank of Argentina. The IMF and Argentina reached an agreement last June on $50 billion to help the country out of the crisis. The terms of this agreement were revised yesterday, during a meeting between Christine Lagarde and President Macri, to ensure that IMF disbursements are faster and "dispel doubts about Argentina's financing capacity". Luis Caputo, the Governor of the Central Bank, resigned following these new negotiations. According to economist G. Rubinstein, this is "a disagreement with the IMF on its monetary policy". His successor is Guido Sandleris, who has so far been the country's vice-president and main negotiator of the IMF agreement reached last June.
Condemnation of unfair commercial practices. Ministers from the United States, Japan and the European Union met yesterday in New York to discuss measures to combat unfair competition, particularly from China, which is implicitly referred to in their communiqué issued following their meeting.
The White House is strict when it comes to Tehran. Yesterday, it opposed the EU's plan to create a legal entity to continue trade with Iran despite the US embargo. It even made a thinly veiled threat: We will be watching the development of this structure that doesn't exist yet and has no target date to be created. We do not intend to allow our sanctions to be evaded by Europe or anybody else," said John Bolton, White House National Security Advisor.
FOMC meeting at 8pm. The Fed will issue its monetary policy decision tonight. An increase of 0.25% is expected to avoid the overheating of the US economy, which is in good health despite the trade war context. Forecasts of the country's economic growth, inflation and unemployment rate will also be discussed, which could allow the market to validate its assumption of a further rate increase in December.