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As the world shifts its attention to Fintech, central banks examine the potential economic impact of digital currencies, including the benefits and risks. They also consider the use of decentralised ledger technology for clearing and settling payments.
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Promoting investments that combat climate change through ‘green’ technologies and enhanced economic sustainability is increasingly important for public and private sector asset managers. Higher real returns from such investments can mitigate the effect of low and negative interest rates.
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Global Public Investors – central banks, sovereign funds and public pension funds with investable assets of $33.8tn or 45% of world GDP – are a worldwide force in politics as well as economics. Their performance, behaviour and asset allocation moves have widespread international repercussions. The launch of the 2017 research took place in London on 14 June.
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Lower commodity and energy prices, tighter financing conditions and protectionism in world trade have spelled bad news for emerging market economies. But the tide may be turning as world growth improves and markets react to better management in key countries.
OMFIF Conversation
Britain’s exit from the European Union, under procedures launched by the 29 March delivery of the Article 50 withdrawal letter, marks a turning point for the UK and the continent – a drawn-out process affecting the Old Continent’s internal and external cohesion and sending reverberations throughout the world.
ListenGreen banks have low carbon investment as their main remit, channelling public and private finance towards accelerating a global transition to a greener economy. The UK Green Investment Bank has committed almost £3.5bn to 100 projects in five years, writes Shaun Kingsbury.
Nearly 20 years after the US and the IMF toppled President Suharto of Indonesia during the Asian financial crisis, important lessons have still not been learned. Regime change never works as intended. In Asia, China has filled the vacuum created by the discredited efforts of the US and the IMF, writes Steve Hanke.
Figures for July show that, for the fourth month in a row, German bonds bought under the ECB's quantitative easing programme fell short of the capital key allocation. When taken with the over-purchase of Italian and Spanish bonds, this suggests growing difficulties with the QE programme, writes Ben Robinson.
Janet Yellen is reassuring investors about the Fed’s plan to start reducing its $4.5tn balance sheet. But the Fed chair seems to be downplaying the risk that an asset and credit market bubble may have been created by quantitative easing. The danger is that the bubble could burst, writes Desmond Lachman.
The 20 years since the Asian financial crisis of 1997-98 show how much the region learned from the debacle. Financial reforms and fiscal restraint helped build collective resilience to shocks. But these measures are now stifling growth because of years of underinvestment in infrastructure, writes Kat Usita.
Innovation, extensive human capital and infrastructure improvements can pave the way towards higher incomes in Asia, according to Yasuyuki Sawada, chief economist of the Asian Development Bank, speaking at an OMFIF discussion in Singapore on the region's economic outlook.
Central banks appear to be readying to curb the unprecedented volumes of liquidity that, for the last eight years, buoyed stock markets. Trump, who is pointing to the seeming strength of US exchanges as vindication of his economic policy, should prepare for a substantial correction in prices, writes Desmond Lachman.
The inverse relationship between unemployment and inflation, identified by the Phillips curve, has changed. Unemployment has fallen in many countries but has not led to wage inflation. Older workers are staying in the labour market for longer but negotiate less aggressively on wages than the young, writes Gary Smith.
Briefing with Manmohan Singh, Senior Financial Economist, IMF
Thu 7 Sep 2017
GMT Standard Time
BRIEFINGS | London
Briefing with Hiromi Yamaoka, Director General, Bank of Japan
Wed 13 Sep 2017
GMT Standard Time
BRIEFINGS | London
OMFIF launch to mark the 25th anniversary of ‘Black Wednesday’
Fri 15 Sep 2017
GMT Standard Time
CITY LECTURES AND LAUNCHES | London
Roundtable briefing with Hilary Benn, Labour MP for Leeds Central
Mon 18 Sep 2017
GMT Standard Time
BRIEFINGS | London
Discussion with Charles Goodhart, Director LSE
Tue 19 Sep 2017
GMT Standard Time
DISCUSSIONS | London
Roundtable discussion with Verena Ross, Executive Director, ESMA
Wed 20 Sep 2017
GMT Standard Time
BRIEFINGS | London
A roundtable discussion with Mohd Munir Majid, chairman of Asean Business Club. The discussion focuses on the drivers and challenges of integration in the Association of Southeast Asian Nations and the role integration can play in improving macroeconomic and financial stability.
The rights of EU nationals living in the UK has been one of the most controversial issues since Britain voted to exit the bloc in June 2016. Around 3m EU nationals live in the UK, comprising 7.3% of total UK employment.
Fed policy-makers see the slowdown in economic growth in the first quarter as 'transitory', and will be watching to see if the downturn in inflation is temporary too. Further dovish inflation data for May have added to the sense of caution.
Two years ago some commentators predicted that the price of gold could fall below $1,000 an ounce and that the market was heading for a downward spiral. Today the precious metal costs around $1,250 an ounce, and its price has been on an upward trend since the start of the year.
In 2013 oil export revenues exceeded $1.2tn for GCC economies. The IMF projects these revenues will fall to $720bn by the end of 2017. Since oil revenues make up on average more than 45% of tax revenues, the resulting budget deficits in GCC countries are unlikely to recover in the near term.
This month's advisers network poll focuses on the US decision to withdraw from the Paris climate change agreement. Of those polled, 68% remain confident in the G7's ability to meet its climate objectives without US leadership.
