Invested: The OMFIF Podcast

Scott Grimberg, emerging markets fixed income portfolio manager at pension fund CalPERS, joins Pierre Ortlieb, head of policy analysis at OMFIF, to discuss economic policy responses to Covid-19, the state of play in emerging markets and how the fund approaches emerging market debt assets.

To hear more about how asset owners are managing the Covid shock, join us for the launch of the Global Public Investor on 21 July. Register:

https://www.omfif.org/events/global-economic-recovery-and-the-role-for-central-banks/

 

OMFIF’s Katie-Ann Wilson, programmes manager, fintech and emerging markets, and Bhavin Patel, senior economist and head of fintech research, give an overview of OMFIF’s main Digital Monetary Institute activities which have taken place during the second quarter of 2021. The discussion focuses on the highlights and themes that have come to light through the meetings organised as well as the research undertaken in this area during this quarter.

Catch-up on demand:
DMI Symposium -  'Central banks and digital currencies, revolution in money' 
The Bank of England’s approach to digital currencies and cross-border payments

Read:
OMFIF Digital Monetary Institute Journal: Changing bank models
Future of Payments report, 2020

How can governments, the European Commission and the European Central Bank keep to their mandates of financial stability and encourage growth in the euro area during this critical part of the recovery from Covid-19? Pedro Duarte Neves, alternate chairperson of the European Banking Authority from 2013-18 and senior adviser of the board of directors of Banco de Portugal, joins Ellie Groves, managing director of the OMFIF Institute, Economic and Monetary Policy to discuss the economic position of the euro area and differences between countries and sectors. They also cover the implications of the US fiscal stimulus on euro area inflation expectations and what help is needed for businesses to stay solvent as government support is slowly tapered.

Professor Jiye Hu, China Aging Finance Forum, and Philip May, director of retirement income solutions at Capital Group, join OMFIF’s Pierre Ortlieb to discuss various similarities and differences between the Chinese and Anglo-American pension systems. They discuss structural differences, such as the emphasis on second-pillar tensions in the US and Europe, as well as broader themes including the changing demographic environment, lessons from Anglo-American retirement systems and the potential for investment diversification.

In the latest episode, Danae Kyriakopoulou speaks to Ricardo Reis, Arthur Williams Philip professor at the London School of Economics. They compare the causes of and outlook for inflation in the US and euro area and discuss how fiscal stimulus packages will feed into the European Central Bank’s reaction function ahead of its monetary policy meeting on 10 June. They explore the longer-term implications of continued monetary policy accommodation on fiscal-monetary policy interactions and potential tensions, including the question of central bank independence. They also take a deep look into the evolving nature of central bank communication strategies and how the ECB’s track record has differed across its policy communications from inflation and quantitative easing to changes in sovereign debt spreads.

Over the last year, the US government and the Federal Reserve have taken a number of fiscal, monetary and policy actions to help steady both the US economy and global dollar liquidity. James Bullard, president and chief executive officer of the Federal Reserve Bank of St Louis, joins David Marsh, chairman of OMFIF, for a virtual discussion on the Fed’s policies, an outlook for the US economy and global consequences of the pandemic.

To register for the OMFIF Fed week, visit out website here: https://www.omfif.org/fedweek/

To watch the full event, visit out website here: https://www.omfif.org/videos/fireside-chat-with-the-federal-reserve-bank-of-st-louis/

Bhavin Patel, head of fintech research at OMFIF, is joined by Serey Chea, director general of the national bank of Cambodia, and Agne Makauskaite, Asia Pacific head of public policy for regulated industries at Amazon Web Services.

They discuss the role technology plays in fostering financial inclusion. They review how technology can help overcome some of the challenges faced by excluded groups and create economic opportunities. They also highlight examples of where technological solutions have worked in Asia, focusing on cloud as a foundation to support financial inclusion.

Helena Adegas, head of markets, Banco de Portugal, and Adriana Perelli, managing director global client management and head of ESG for BNY Mellon’s European Bank, speak to Emma McGarthy, programmes manager in sustainable policy, OMFIF, about the importance of gender diversity in decision-making for better investment returns and risk management. They discuss the role of central banks in efforts to bring women into leadership positions, how this can be achieved, the benefits and skills women bring to these positions and diversity in the Eurosystem.

The payments landscape is changing rapidly, driven by new and evolving technology, non-traditional players and new payment instruments. At the same time, central banks’ core objectives and functions – financial stability, monetary policy, banking supervision and financial services access – haven’t changed. Against this backdrop, central banks are evaluating and/or deploying new digital settlement solutions, including faster payments systems and central bank digital currencies. This discussion will explore these key topics, focusing on the role of the private sector, central banks and the importance of competition and innovation for the new payments landscape.

Panelists:

• Charlotte Hogg, CEO, Visa Europe
• Judith Obholzer, Managing Executive Public Policy, Vodacom
• Peter Conti-Brown, Assistant Professor, The Wharton School of the University of Pennsylvania
• Thomas Lammer, Deputy Head of Secretariat, CPMI, Bank for International Settlements
• Oded Salomy, Director of Payments Systems and Settlement, Bank of Israel

Moderated by Bhavin Patel, Senior Economist and Head of Fintech Research, OMFIF

As India’s economy slowly returns to growth, recovery is expected to gather pace as consumers and investors shake off the effects of the pandemic. Sujoy Bose, chief executive officer of the National Investment and Infrastructure Fund, discusses the investment landscape and the opportunities present in India.