Taking stock: ECB strategy review and monetary policy challenges

Philip Lane, chief economist and member of the executive board of the European Central Bank, discusses the current status of the ECB’s monetary policy strategy review and challenges for monetary policy in the current environment.

This discussion is taken from a virtual live broadcast with Philip Lane.

Article - ECB asset purchases dilute European rule of law. 
Article – ECB must future-proof monetary policy
Presentation slides
Podcast – Ahead of the ECB
Podcast – ECB future direction and central bank independence

In conversation with Kevin Stiroh: The role of the Federal Reserve in mitigating climate related financial risk

Kevin Stiroh, senior adviser in the Supervision Division at the Federal Reserve, discusses the Fed’s Supervision Climate Committee and its work to increase standards, supervisory practice and capital to mitigate climate-related financial risk. Kevin will discuss the Fed’s efforts to build coordination with national and international bodies, as well as challenges around data modelling climate-related risk and developing scenario analysis tools.

Watch the full event.

Designing a financial system that responds to the climate threat and promotes a healthy planet

Margaret Kuhlow, Finance Practice Leader at WWF, joins Emma McGarthy, Programme Manager of OMFIF’s Sustainable Policy Institute, to discuss how finance is a powerful tool for addressing climate change, and how financial flows can be directed to meet the Paris Agreement objectives of 1.5°C. They discuss how building a resilient recovery from Covid-19 can intertwine with making tangible progress on climate change, how biodiversity considerations and ecosystem services can be brought closer to the forefront of risk assessments and metrics of investment impact; as well as the tools, data and methods that can be used by institutions to measure climate risk.

Overcoming monetary challenges during the pandemic: view from central Europe

David Marsh, OMFIF chairman, is joined by Marek Mora, deputy governor, Czech National Bank, and Zuzana Schwidrowski, director, public finance, Scope Ratings, to discuss the CNB’s monetary response to Covid-19 and the challenges confronting central banks. They delve into a multitude of topics including the CNB’s pandemic track record, the possible extension of the ECB’s pandemic emergency purchase programme, ratification and implementation of the EU’s Next Generation fund, and the role of central banks in combating climate change.

In focus: DMI Journal and Symposium

OMFIF’s Katie-Ann Wilson and Bhavin Patel discuss the forthcoming DMI Journal and offer a sneak peek into what you can expect at the DMI’s inaugural Symposium on the 28-29 April. The Journal covers the latest developments in the payment space, insights from the Bank of England’s real-time gross settlement team, and the move from competition to co-opetition between fintechs and central banks.

 The Symposium hosts discussions on many topical issues, from central bank digital currency and stablecoins to legal and regulatory requirements, and the future of digital currencies. We are delighted to announce some of the headline speakers:

• Denis Beau, Deputy Governor, Banque de France
• John Rolle, Governor, Central Bank of the Bahamas
• Raj Dhamodharan, Executive Vice-President, Blockchain, Digital Asset Products and Digital Partnerships, Mastercard
• Christian Catalini, Chief Economist, Diem Association
• Ed Bowles, Director of Public Policy, Facebook Financial

Sign-up for the DMI Newsletter and DMI Journals - https://www.omfif.org/subscribe/
Register for OMFIF’s Central banks and digital currencies Symposium -https://www.omfif.org/dmisymposium/ 
Swapcard instructions - https://www.omfif.org/support-center-omfif-dmi-symposium/

Ahead of the ECB

Danae Kyriakopoulou, chief economist and director of research at OMFIF, is joined by Ernst Welteke, former president of the Deutsche Bundesbank, and David Marsh, chairman of OMFIF, to delve into issues surrounding the European Central Bank’s governing council meeting on 22 April. They touch upon the increase in European and German inflation, potential influence on the governing council of forthcoming elections in Germany and France, the effect of the Biden administration’s stimulus programme, and the creditor and debtor divide in the euro area.

Economics and diplomacy in the Americas under Biden

President Joe Biden’s administration promises a reset for much of the diplomacy we’ve seen from the US over the last four years. Covid-19 has caused an unprecedented shock to states in the Americas, while slow growth, an oil price shock and political instability trouble many economies across Latin America. With diverging responses to the health crisis, financial market upheaval and varying levels of protectionism, policy-makers face critical questions in the year ahead. This panel convenes experts from the US, Brazil and Argentina to discuss key political and economic trends across the Americas. They will be discussing political relationships under Biden, the forecast for trade and the challenges ahead.

The slides referenced can be found here: https://www.omfif.org/wp-content/uploads/2021/04/Slide-image.jpg

Speakers:

• Kimberly Breier, Former Assistant Secretary of State for Western Hemisphere Affairs
• Alexandre Tombini, Chief Representative of the BIS Office for the Americas
• Vladimir Werning, Former Chief Advisor to the Treasury Minister of Argentina
• Dante Mossi, President, CABEI

Live podcast, recorded on 14/01/2021

Public versus private blockchains

Bhavin Patel, head of fintech research at OMFIF, is joined by Pietro Grassano, business solutions director at Algorand, to discuss the core differences between public and private blockchains. They distinguish between the definitions, properties (such as governance, scalability, speed, transparency and security), as well as the advantages and disadvantage of both types of networks. Finally, they share where each type of blockchain is appropriate, drawing from use cases and examples.

Join the OMFIF-Algorand virtual panel on DLT and the future of public blockchains, 27 May.

Panelists include:

• Pietro Grassano, Business Solutions Director Europe, Algorand
• Hugh Mcmillian, Chief innovation officer, Instimatch
• Yesika Padilla Yanez, Director of Innovation, Banco Davivienda

Register here: https://www.omfif.org/events/dlt-and-the-future-of-public-blockchains/

A US perspective on China

In a tumultuous year for the global economy, China stands out for its strong recovery. However, 2020 also saw increasing Sino-American antagonism and questions over Chinese influence. China clearly has visions for the new world order and is playing an increasingly important role in the international landscape, but what are its political and economic aspirations? Stephanie Segal, senior fellow at CSIS; Dave Rank, former Chargé d’Affaires at the US Embassy in Beijing; and Gerwin Bell, lead economist for Asia at PGIM Fixed Income join Mark Sobel, OMFIF’s US chairman, to discuss China’s position in the global political and economic system and what it means for the US.

The OMFIF/KPMG series: Emerging trends in infrastructure

The infrastructure sector is evolving, putting greater emphasis on sustainability, digitalisation and the use of data to inform planning decisions. OMFIF’s Kat Usita speaks to Richard Threlfall, global head of infrastructure for KPMG, and Imad Fakhoury, global director of the infrastructure finance, PPPs and guarantees group of the World Bank, about their views on these developments.