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Deepening financial disparity risks causing massive damage to the world economy and upending incumbent political structures. Already over the last several years we have seen the dangers of inequality reflected in the rise of populism in major economies. Law-makers are drifting further away from the political centre, as they try to appeal to citizens dissatisfied with the status quo.
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A new focus on bilateral relations after Brexit will allow Germany and the UK to share expertise, deepen bonds and provide leadership in international forums. This report describes how across 10 economic areas the two sides can extend widespread co-operation in fields ranging from manufacturing and services to education, gender balance and cybersecurity.
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A decade of unconventional monetary policy has led to uncertainty about central bank investment patterns. This report is a reminder that the core investment assets of central banks stem from the official reserve portfolio. SSGA and OMFIF researchers have computed a range of nominal and relative data bases in examination of many individual reserve managers. The research aims to dispel some of the obscurity about the asset management practices of this traditionally non-transparent group of global public investors.
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Mark Sobel, US chairman of OMFIF, speaks with Amias Gerety, partner at QED and former acting assistant secretary for financial institutions at the US Department of the Treasury. They discuss macroprudential policy in the United States. They focus on the Financial Stability Oversight Council, including its role in the wider economy and its implications for both bank and non-bank actors.
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The OMFIF meetings monthly review provides readers with a recap of the meetings that took place over the past month and provides a sample of the forthcoming meetings in the next six months. The Q1 review covers meetings in Singapore, London and New York. To learn more about OMFIF Meetings and Membership, please email enquiries@omfif.org
Read moreThere is a way out of the UK's Brexit impasse, says Meghnad Desai. Parliament backbenchers can take over the procedure for passing bills which can force the executive to implement parliamentary decisions. This worked when both houses passed a bill to force May to seek an extension to the 29 March deadline.
For Italy's increasingly fragmented ruling coalition, the European parliamentary elections are a make-or-break test on the viability of continuing to govern together. If Salvini's Liga makes strong gains as predicted, it would be a strong incentive for him to call a general election, writes Antonio Armellini.
A media furore has flared over whether Beijing will 'weaponise' the renminbi. The debate is entertaining, but misses the mark. In spite of much conjecture, in the past China has consistently neither acted to 'dump' or 'weaponise' its US Treasuries, nor shown interest in doing so, writes Mark Sobel.
Those who participate in the international political discourse increasingly recognise that trade must become more inclusive. The policy-makers behind the momentous African continental free trade area can learn from integration efforts elsewhere in the world, write Jamie Macleod and David Luke.
China's response to Washington's tariff increase has, to date, been relatively mild, writes Iris Pang. In practice, it is difficult for China to respond with equal measures, since it imports much less from the US than the US does from China. There besides, a mild response means China maintains the moral high ground.
Behind Argentina, Turkey has the dubious distinction of having the world's second worst performing currency. President Recep Tayyip Erdoğan's mishandling of his country's currency crisis heightens substantially the probability that Turkey will soon default on its external debt, writes Desmond Lachman.
Patricia Haas Cleveland, a New York banker with wide public and private sector experience, has become president of OMFIF's operations for North America. Melbourne-based Mark Burgess, former managing director of the Australian Future Fund, will become OMFIF's Asia Pacific chairman in July.
Speaking to journalists after the most recent meeting of the FOMC, Fed Chair Powell affirmed his view that the recent dip in inflation was due to 'transitory factors'. He was at pains to dispel the notion gaining ground in markets that the Fed was contemplating a cut in rates, writes Darrell Delamaide.
Roundtable with Yuko Kawai, Chief Representative, Bank of Japan
Tue 28 May 2019
MAY | London
OMFIF-Czech National Bank joint seminar
Wed 29 May 2019
MAY | Prague
Roundtable with Elisabeth Stheeman, Member of the Financial Policy Committee, Bank of England
Wed 29 May 2019
MAY | London
Roundtable with Fabio Natalucci, Deputy Director of the Monetary and Capital Markets Department, International Monetary Fund
Thu 30 May 2019
MAY | New York
OMFIF - S&P Global roundtable examining the next generation of ESG
Fri 31 May 2019
MAY | London
OMFIF-Oesterreichische Nationalbank joint seminar
Mon 3 Jun 2019
JUNE | Vienna
The 2018 Absa Africa Financial Markets Index launched in Bali alongside the IMF-World Bank Group meetings. In its second year, the index is a premier indicator of the attractiveness of Africa’s capital markets, for use by investors and asset managers around the world.
The distribution of women across academic fields is uneven, and this segregation appears persistent. Economics is no exception. Despite the increase in the number of female economists over the last few decades, women in economics continue to be underrepresented.
Stock market volatility tends to reach its peak in October, underlined by famous crashes in 1929, 1987 and 2008. Cross-currents in the world economy make this October particularly pivotal, especially in the light of the tug of war between good news out of the US and bad news out of China.
Global growth and inflation figures, in addition to rising commodity prices and interest rates, point to the risk of staglation over the summer months. The geopolitical backdrop, and the threat of a US-China trade war, also has a whiff of stagflation about it.
The world is experiencing one of the longest economic expansions since records began and there's no end in sight, with muted inflationary pressures keeping interest rates low. Stock markets like this not too hot, not too cold 'Goldilocks' backdrop.
This month’s poll focuses on universal basic income. Participants were asked: In recent years, the idea of universal basic income has become an increasingly popular point of discussion as a potential means of improving financial inclusion. How viable a solution is this? If not UBI, how best can policy-makers address widening economic inequality?
