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  • The OMFIF Bulletin: New Asia balance - 10 Apr 2015

    Tussles over the Asia infrastructure bank underline shifts in global institutional leverage as Asian monetary precepts gain greater prominence.

  • China aiming for SDR inclusion - 8 Apr 2015

    The People's Bank of China is targeting a strong renminbi, increasing the likelihood of inclusion in the IMF’s Special Drawing Right.

  • Fed should hike rates early says St Louis’ Bullard - 26 Mar 2015

    James Bullard, St Louis Federal Reserve Bank president, urged an early US rate rise to damp financial risks at an OMFIF meeting in Frankfurt.

The OMFIF Bulletin: New Asia balance

The world economy is nearing a series of turning points, but their timing is uncertain. No one is sure when the US and UK will raise interest rates, when the Chinese economy will run out of steam or when Europe and Japan will end quantitative easing. One fact appears assured: Asia's weight in the global economy will be higher in 10 years than it is now.

  • Click here for more information about The Bulletin
  • Search for a new currency standard

    Since December Beijing seems to have been steering the renminbi so that its inclusion in the Special Drawing Right would have enhanced the value of the IMF's composite currency, as shown in the above chart. This could set a new world currency standard, enshrining China's monetary importance.

  • Click here to view the full Briefing
  • Fed should hike rates early says St Louis’ Bullard

    St Louis Federal Reserve Bank President James Bullard said the US needed higher interest rates to head off dangerous asset bubbles. The strong dollar was much less of a risk to US expansion than generally thought, whereas US unemployment was falling much more rapidly than earlier predicted, he told an OMFIF audience in Frankfurt.

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    Commentary

    • Plenty brewing behind the scenes at IMF meetings

      by David Marsh | Mon 20 Apr 2015

      The most dramatic feature of the weekend spring meetings of the World Bank and International Monetary Fund in Washington was the absence of drama. There are plenty of potential disturbances in the world economy but little of this was aired in any meaningful way during three days of meetings in the US capital.

      MARKET: World

      OMFIF - HomePage
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    • United by fear of failure

      by David Smith in Washington | Fri 17 Apr 2015

      Yanis Varoufakis of Greece and Wolfgang Schäuble of Germany seem worlds apart in terms of a deal at the Washington spring meetings. Yet they are united by common fear of failure. Both lose if negotiations collapse, with ramifications not just for the euro but for global economics. That's a legacy no one wants.

      MARKET: Europe

      OMFIF - HomePage
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    • Plenty of reasons for spring optimism

      by David Marsh | Wed 15 Apr 2015

      There’ll be plenty of gloom in Washington as world finance ministers and central bankers gather for the World Bank and International Monetary Fund spring meetings. The IMF has warned of prolonged lower growth that will keep debt high. However, there are five good reasons why the doomsayers are overdoing it.

      MARKET: World

      OMFIF - HomePage
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    • Europe’s race between economics and politics

      by Desmond Lachman | Tue 14 Apr 2015

      Whether Europe can avoid a downward political and economic spiral will depend on whether the recovery has sufficient force to reverse the last few years’ political deterioration. Greece’s problems should be a wake-up call to policy-makers.

      MARKET: Europe

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    CHART OF THE WEEK

    Greece's difficult road ahead

    by William Baunton

    If Greece were to fail to make payments to the IMF, it would become the first advanced economy in history to default on an IMF loan

    Greece's forthcoming debt repayments

    The UK's net international investment position

    by William Baunton

    The Bank of England's estimates paint a different picture

    The UK's net international investment position

    In defence of the Swiss National Bank

    by David Marsh and William Baunton

    The Swiss National Bank’s peg of SFr1.20 to the euro shuddered to an abrupt halt last month, causing financial market waves. In fact, the bank’s decision was correct, if not overdue.

    In defence of the Swiss National Bank

    Net foreign assets and liabilities 1970-2013

    by William Baunton

    Winners and losers in debtor-creditor stakes

    Net foreign assets and liabilities 1970-2013
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    Advisory Board Poll

    Asian Infrastructure Investment Bank impact

    The Asian Infrastructure Investment Bank, initiated by the Chinese government, looks likely to have more than 50 founder members. OMFIF asked its Advisory Board for their views about the bank’s impact in the next five years.

    Asian Infrastructure Investment Bank
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