The OMFIF Podcast
Synopsis: The ECB’s return to QE, claustrophobia on the Fed balance sheet, and Facebook’s Libra

Synopsis: The ECB’s return to QE, claustrophobia on the Fed balance sheet, and Facebook’s Libra

November 1, 2019

In this episode of Synopsis, OMFIF's weekly roundup of news and analysis, Senior Editor Julian Frazer looks back over the most recent articles published on the OMFIF website, including those on US President Donald Trump's isolationist tendencies, the pressures facing incoming ECB President Christine Lagarde, and the complexities of central bank communications. To receive our newsletters,visit https://thinktank.omfif.org/subscribe.

Articles and other items referenced:

  1. 'Only one justification' for fresh ECB QE
  2. Claustrophobia on the Fed balance sheet
  3. Libra and the global monetary system
  4. Second Libra podcast with co-creator Christian Catalini
  5. Simon Ridley on negotiating an EU-UK trade deal
  6. The future of regulation with FCA CEO Andrew Bailey

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

Correction: The growth of the Fed's balance sheet stands at $80bn a month, rather than $120bn as reported in this podcast. The text of the article reflects the correction.

Libra: Practicalities, technology, and the future of payments

Libra: Practicalities, technology, and the future of payments

October 29, 2019

Christian Catalini, co-creator of Libra and head economist at Calibra, and Teunis Brosens, lead economist for digital finance and regulation at ING, continue their discussion with OMFIF’s Bhavin Patel. In the second instalment of this series on Libra they address: whether existing technologies can meet the digital currency’s objectives; guaranteeing stability, security and convertibility; how the permissioned system will work and develop over time; and how global payments systems will transform over the next five years.

 

For more on Libra and digital currencies, see the OMFIF-IBM report here

 

 

 

Music: https://www.bensound.com/royalty-free-music

Synopsis: Donald Trump’s multipolar world, pressures on Christine Lagarde, and central bank communications

Synopsis: Donald Trump’s multipolar world, pressures on Christine Lagarde, and central bank communications

October 25, 2019

In this episode of Synopsis, OMFIF's weekly roundup of news and analysis, Senior Editor Julian Frazer looks back over the most recent articles published on the OMFIF website, including those on US President Donald Trump's isolationist tendencies, the pressures facing incoming ECB President Christine Lagarde, and the complexities of central bank communications. To receive our newsletters,visit https://thinktank.omfif.org/subscribe.

Articles and other items referenced:

  1. Trump hastens advent of multipolar world
  2. Lagarde's communications challenge
  3. Politics, manipulation and credibility
  4. Podcast with Libra co-creator Christian Catalini
  5. Tara Rice on challenges to traditional banking
  6. 90th anniversary of the Bank of China's London branch

     

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

Libra and its potential role in the global monetary system

Libra and its potential role in the global monetary system

October 22, 2019

 Facebook's plans for a global cryptocurrency have caused a stir among regulators and finance ministries. The company sought to announce Libra before launching it to gather feedback from regulators and central banks on the proposed economic design and regulatory frameworks. However, it has exacerbated speculation on its impact and purpose.

Christian Catalini, co-creator of Libra and head economist at Calibra, and Teunis Brosens, lead economist for digital finance and regulation at ING, join OMFIF's Bhavin Patel to explore Libra's position in the global monetary system. They discuss how it differs from other currencies and payment systems, how the reserve works, its impact on emerging markets and the risks to monetary sovereignty.

Part II of this discussion covers Libras' practicalities, technology, and the future of payments. Listen here

For more on Libra and digital currencies, see the OMFIF-IBM report here

 

 

Music: https://www.bensound.com/royalty-free-music

Synopsis: IMF in peril, Europe’s ever-closer union, and unconventional policy tools

Synopsis: IMF in peril, Europe’s ever-closer union, and unconventional policy tools

October 18, 2019

In this episode of Synopsis, OMFIF's weekly roundup of news and analysis, Senior Editor Julian Frazer looks back over the most recent articles published on the OMFIF website, including those on the litany of challenges facing the International Monetary Fund and its new leadership, ever closer union in Europe, and the limits of conventional and unconventional monetary policy tools. To receive our newsletters,visit https://thinktank.omfif.org/subscribe.

Articles and other items referenced:

  1. Imperilled co-operation at IMF annual meetings
  2. IMF's raison d’être in jeopardy
  3. Europe's fiscal fisticuffs
  4. In conversation with Jean Boivin
  5. Governor Marouane El Abassi in London
  6. Deputy Governor Fernanda Nechio in New York

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

Examining prospects for monetary and fiscal policy coordination

Examining prospects for monetary and fiscal policy coordination

October 15, 2019

Jean Boivin, managing director and head of global research at the Blackrock Investment Institute, joins OMFIF’s Mark Sobel to discuss the limits of conventional and unconventional monetary policy tools, and the prospect for closer co-operation between monetary and fiscal policy. They touch upon the adverse impact of long-term low interest rates, the creation of an emergency fiscal facility and the potential risk to central bank independence.

 

Music: https://www.bensound.com/royalty-free-music

 

 

Synopsis: Carney’s futuristic ideas, living with deflation, and the rise of ‘reverse Yankees’

Synopsis: Carney’s futuristic ideas, living with deflation, and the rise of ‘reverse Yankees’

October 11, 2019

In this episode of Synopsis, OMFIF's weekly roundup of news and analysis, Senior Editor Julian Frazer looks back over the most recent articles published on the OMFIF website, including those on Bank of England Governor Mark Carney, the deflationary precedent set by Japan for other advanced economies, and the proliferation of euro-denominated debt issuance. To receive our newsletters,visit https://thinktank.omfif.org/subscribe.

Articles and other items referenced:

  1. Carney's proposals for multipolarity
  2. Living with deflation
  3. Euro-debt issuance rising in prominence
  4. Global gold demand
  5. A comprehensive look at OMFIF's forthcoming meetings around the globe


Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

Global gold demand: Prospects for central bank reserve portfolios

Global gold demand: Prospects for central bank reserve portfolios

October 9, 2019

Kurtulus Taskale Diamondopoulos, director of central banks and public policy at the World Gold Council, joins Pierre Ortlieb, economist at OMFIF, to examine recent trends in global gold demand, the role of the official sector and prospects for central bank reserve asset portfolios. Gold is rising to a prominence not seen since the turn of the millennium, driven by an increasingly tense and fragmented international system, as well as unprecedented developments in capital markets.

 

For the World Gold Council survey of central banks mentioned in the podcast, please click here

 

For the most recent OMFIF report on gold, multilateral institutions, and the global reserve currency system, please click here

 

Music: https://www.bensound.com/royalty-free-music

Synopsis: Draghi helps Lagarde, trouble in US repo markets, and bugs in the system

Synopsis: Draghi helps Lagarde, trouble in US repo markets, and bugs in the system

October 4, 2019

In this episode of Synopsis, OMFIF's weekly roundup of news and analysis, Senior Editor Julian Frazer looks back over the most recent articles published on the OMFIF website, including those on the European Central Bank, trouble in US repo markets, and a digital special drawing right. To receive our newsletters,visit https://thinktank.omfif.org/subscribe.

Articles and other items referenced:

  1. Draghi helps Lagarde gain her footing
  2. Trouble in US repo markets
  3. Digital SDR to enhance payment systems
  4. OMFIF's autumn cybersecurity Bulletin
  5. A divided committee at the Federal Reserve
  6. Impact investing with the IFC
     

Music: Hey Mercy by Pierce Murphy is licensed under an Attribution License.

Fed Talk: a divided committee and mixed economic outlook

Fed Talk: a divided committee and mixed economic outlook

October 1, 2019

The Federal Reserve cut the fed funds rate by 25 basis points following intense discussion between divided Federal Open Market Committee members. The outlook for the US economy is mixed –unemployment is low and consumption solid, though concerns remain about a slowdown in manufacturing and the negative effects on investment of trade tensions. Mark Sobel, US chairman of OMFIF, is joined by Don Kohn, member of the Bank of England’s Financial Policy Committee and member of the Fed board of governors between 2002-10, and Bill Papadakis, macro strategist at Banque Lombard Odier & Sie, to discuss the Fed decision and the outlook for the US economy and monetary policy.

 

Music: https://www.bensound.com/royalty-free-music