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News And Commentary

China 'must not hesitate' on North Korea

Trump may be prepared to grant any number of concessions to China in exchange for it eliminating Pyongyang’s nuclear threat. Beijing is unlikely to get a better chance to win what it wants from Washington, writes John Nugée. By not exploiting this leverage, China's leaders are showing insufficient diplomatic imagination.

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May's 'high-stakes gamble'

Theresa May's call for a UK general election is a perilous combination of low risk and high stakes, writes Joergen Moeller. Though her party is likely to win a comfortable majority, the risk of a hung parliament is so frightening that May's move comes across as unnecessary gambling with the nation's future.

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Clarity is a central bank virtue

The calm development of the Czech koruna's exchange rate following the removal of its currency floor offers a useful example for central banks preparing to exit unconventional policies, writes Miroslav Signer. The Czech National Bank's clarity has enabled the economy to ready itself against volatility risks.

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Perilous timing for deregulation

Trump hopes to spur domestic lending through financial deregulation. But the prospect of hot money flowing into the US makes this a perilous time to overhaul regulations intended to curb speculative activity, and may result in a return to conditions that preceded the financial crisis, writes Danae Kyriakopoulou.

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Centre ground holds in France

The centre ground has held in France as presidential favourite Emmanuel Macron won an unexpectedly strong lead over far-right leader Marine Le Pen. The confidence-boosting result adds a further gloss to the generally more benign picture of the world economy that has emerged in recent months.

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Fed 'pressure' over Trump growth plans

The gap between Donald Trump's optimistic plans for 4% US growth and the Federal Reserve's more sober assessments will put pressure on the Fed's independence, since Trump will wish the central bank to run a lax monetary policy to boost the economy, according to panelists at an OMFIF-MGI meeting in Washington.

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Regulators 'should adjust tighter rules'

International regulators should consider recalibrating some elements of tighter financial rules to help safeguard growth, but should guard against undue unwinding, Ravi Menon, managing director of the Monetary Authority of Singapore, said in a Washington OMFIF City Lecture.

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Setting stability for poll aftermath

The competition to choose the next president of France is wide open. Responding to the worries about stability as well as inconclusive news on inflation, the German Bundesbank and the Banque de France seem to have reached an informal compact on monetary policy unity, writes David Marsh.

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Meeting CalendarView All Forthcoming Meetings

Promoted Meeting VIEW PHOTO GALLERY

OMFIF and the Bangko Sentral ng Pilipinas convened a panel of private and public sector industry practitioners to discuss economic developments in Asean. The meeting focused on the future of Asean growth, multicurrency reserve management, monetary policy, as well as macroeconomic trends for the Asia Pacific region and beyond.

Asean's connectivity success

OMFIF Chart

Asean's connectivity success

50 years after its inception, the Association of Southeast Asian Nations continues to pursue its goal of strong intra-regional connectivity. Asean states are achieving this aim through enhanced trade networks, market and regulatory integration and sustainable infrastructure investment.

Japan’s new yield curve target: flexibility and transparency

OMFIF Chart

Japan’s new yield curve target

After implementing another innovation on yield curve targeting in September, the Bank of Japan published further details on its purchase of Japanese government bonds. As a result, the Bank has started to disclose data regarding the volume and type of bonds to be purchased, frequency, and a method for auctions.

Dipping March inflation lowers prospects for ECB tapering

OMFIF Chart

March inflation lowers prospects for ECB tapering

The central banks of advanced economies responded to the financial crisis by expanding their balance sheets at an extraordinary pace. Nine years on, some are assessing the risks and benefits of exiting such policies and reversing this balance sheet expansion.

Gender imbalance in central banks

OMFIF Chart

Gender imbalance in central banks

The world of central banking is highly unbalanced when it comes to gender, and the disequilibrium seems to be getting worse. OMFIF Gender Balance Index tracks the balance between men and women in senior positions of central banks around the world. Gender balance is especially weak for the post of central bank governors – only 6.5% of central banks are headed by women.

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Narrow majority expects ‘acceptable’ EU deal

Advisory Board

Narrow majority expects 'acceptable' EU deal

In answer to the question, 'As Theresa May triggers Article 50, what are your expectations for the result of the UK's negotiations with the EU over the coming two years?', more than half of respondents from the OMFIF Advisory Network believe a deal acceptable to both the UK and EU27 will be achieved.