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News And Commentary

Financing a sustainable world

Green 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.

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US toppled Suharto 'but learned little'

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.

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QE 'challenged' by bond limits

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.

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Yellen 'downplays' risks of tightening

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.

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Take care with Asia’s infrastructure gap

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.

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Cultivating higher incomes in Asia

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.

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Trump 'should prepare for market drop'

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.

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Filling the Phillips gap

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.

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Meeting CalendarView All Forthcoming Meetings

Promoted Meeting VIEW PHOTO GALLERY

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.

EU nationals and the British labour force

OMFIF Chart

EU nationals and the British labour force

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 raises rates but turns dovish

OMFIF Chart

Fed raises rates but turns dovish

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.

Gold market opportunity cost is worth paying

OMFIF Chart

Gold market opportunity cost is worth paying

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.

GCC deficits likely to persist through to 2021

OMFIF Chart

GCC deficits likely to persist through to 2021

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.

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US withdrawal 'will not derail climate efforts'

Advisory Board

US withdrawal 'will not derail climate efforts'

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.