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News
  • ECB QE measures analysed in Frankfurt - 28 Jan 2015

    Changes in the euro area following ECB QE were analysed by capital markets experts at the Fifth Deutsche Bundesbank-OMFIF Economists Meeting.

  • Shirakawa cautious on quantitative easing - 27 Jan 2015

    Masaaki Shirakawa, former Bank of Japan governor, voiced caution about the overall impact of QE around the world at the OMFIF City Lecture.

  • World economic governance 'must be refashioned' - 27 Jan 2015

    Policy-makers must refashion world governance following shifts in financial power, says former Hong Kong Treasury undersecretary Julia Leung.

Bundesbank meeting

Roughly 40 economists and capital markets specialists from Europe and further afield took part in the Bundesbank meeting, with discussions ranging over the inflation and growth outlook after the ECB's asset purchase programme, as well as the effects of the single supervisory mechanism. 

Shirakawa lecture London

Shirakawa listed parallels between QE in Japan and Europe, not hiding his scepticism about whether the policy would succeed in boosting inflation and growth. Among the points of convergence was the widespread perception that the central banks in both jurisdictions were 'the only game in town', and that exchange rate considerations - bringing down the value of the euro and the yen - were predominant.

Tides of Capital London

The west should beware sparking negative reactions from Asia by refusal to adapt rules of international monetary behaviour, said Julia Leung, former Hong Kong Treasury undersecretary. Speaking at the launch of The Tides of Capital, Leung defended measures taken by Asian countries to protect their economies from the damaging effects of swirling international capital flows sparked by unorthodox western monetary policies.

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Commentary

  • What Tsipras should say to the creditors

    by Meghnad Desai | Tue 27 Jan 2015

    The arithmetic of the Greek debt is inexorable. It is unpayable in any reasonable time frame without subjecting the Greek population to a generation of misery. Meghnad Desai outlines two choices for Tsipras: one drastic, one only mildly catastrophic.

    MARKET: Europe

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  • Impossible trilemma for Tsipras

    by David Marsh | Mon 26 Jan 2015

    Alexis Tsipras, likely to be Greece’s next prime minister, will have to resolve the latest version of yet another ‘impossible trinity’: relax the economic squeeze, accomplish full-scale debt rescheduling and stay in the euro. Satisfactorily achieving all three aims may be well-nigh unachievable.

    MARKET: Europe

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  • ECB bond-buying outcome: all-round disappointment

    by David Marsh | Thu 22 Jan 2015

    Whatever the exact nature of the European Central Bank’s quantitative easing programme, displeasure will prevail. Amid expectations that the ECB will announce a €50bn a month bond-buying programme, Europe’s monetary policy-makers are likely to end up disappointing both supporters and denigrators of aggressive easing policies.

    MARKET: Europe

    OMFIF - HomePage
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  • Bundesbank sets conditions for ECB QE programme

    by David Marsh | Mon 19 Jan 2015

    The Bundesbank has watered down forthcoming euro area quantitative easing. Central banks will only be able to purchase their own countries’ bonds, at their own risk. The effective German opt-out from comprehensive support for other euro members compromises common monetary policy.

    MARKET: Europe

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CHART OF THE WEEK

Net foreign assets and liabilities 1970-2013

by William Baunton

Winners and losers in debtor-creditor stakes

Net foreign assets and liabilities 1970-2013

Accessing the Chinese domestic growth story

by William Baunton

Shanghai-Hong Kong Stock Connect to open 17 November

Accessing the Chinese domestic growth story

Performance of public pension funds 2004-13

by William Baunton

Comparing the performance of GPIF with three public pension fund peers from around the world.

Performance of public pension funds 2004-13

Global public investors continuing to increase real estate holdings

by William Baunton

Market value of real estate investments of Första AP-fonden (AP1), Future Fund (FF) and Norges Bank Investment Management (NBIM) from 2008-13.

Global public investors continuing to increase real estate holdings
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Advisory Board Poll

Modest tightening on the way

6 Oct 2014: Nearly two-thirds of OMFIF advisers expect the Fed to raise interest rates above 0.5% this time next year, according to our latest poll.

OMFIF’s Advisory Board predicts the path of federal funds rates
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