The OMFIF Podcast
Week in review: ECB-German court battle continues, what’s next for inflation, and reviving climate action

Week in review: ECB-German court battle continues, what’s next for inflation, and reviving climate action

May 15, 2020

OMFIF’s Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on inflation predictions, the German constitutional court ruling on the Bundesbank's participation in European quantitative easing, climate action, and the financial consequences of stimulus transmission.

Articles and other items referenced:

  1. The end of stable inflation rates: https://www.omfif.org/2020/05/the-inflation-v-deflation-debate/
  2. Inflation now a fiscal phenomenon: https://www.omfif.org/2020/05/inflation-now-a-fiscal-phenomenon/
  3. German court dispute goes to EU's heart: https://www.omfif.org/2020/05/german-court-dispute-goes-to-eus-heart/
  4. ECB 'may double' pandemic bond buying: https://www.omfif.org/2020/05/ecb-may-double-pandemic-bond-buying/
  5. Covid-19 lessons for sustainable finance: https://www.omfif.org/2020/05/covid-19-lessons-for-sustainable-finance/
  6. Stimulus transmission and its financial consequences: https://www.omfif.org/2020/05/stimulus-transmission-and-its-financial-consequences/
  7. Building the Philippines' 'new economy': https://www.omfif.org/events/building-the-philippines-new-economy/
  8. German economic developments: https://www.omfif.org/events/german-economic-developments/
  9. 'Too big to fail' in times of Covid-19: https://www.omfif.org/events/too-big-to-fail-in-times-of-covid-19/
  10. Reopening India's economy: https://www.omfif.org/events/reopening-indias-economy/
  11. Covid-19 and the economy - A view from California: https://www.omfif.org/events/covid-19-and-the-economy-a-view-from-california/

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

The Great Lockdown: Analysing the world economic outlook

The Great Lockdown: Analysing the world economic outlook

May 15, 2020

The International Monetary Fund projects a significant contraction in all parts of the world as a result of the Covid-19 crisis. Lockdown measures and uncertainty about the return to work, as well as what a ‘new normal’ would look like, are having a serious impact on how to forecast future growth. Gian Maria Milesi-Ferretti, deputy director in the IMF’s research department, discusses the baseline scenario in the World Economic Outlook, and the potential ways forward for the global economy in 2020-21.

Download the presentation slides referenced:

https://www.omfif.org/wp-content/uploads/2020/05/WEO-PPT-May-8_2020.pdf 

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

Debt restructuring in the post-pandemic economy

Debt restructuring in the post-pandemic economy

May 14, 2020

Before the pandemic, the inherent imbalances which had built up after a decade of monetary policy intervention had resulted in excess debt and probable future instability. Bill White, former chairman of the economic and development review committee of the Organisation for Economic Co-operation and Development, joins Mark Burgess, Asia chairman of OMFIF. They discuss what the Covid-19 outbreak means for policy-makers, emerging market debt prior to the crisis, and shadow banking.

 

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

The OMFIF/EY Covid response series: stimulus transmission and its financial consequences

The OMFIF/EY Covid response series: stimulus transmission and its financial consequences

May 12, 2020

Part two of the OMFIF/EY Covid response series

What are the consequences of addressing the consequences? In this edition, OMFIF's John Orchard and EY's David Barker discuss the shock-and-awe measures by governments to rescue their economies from the Covid-19 crisis and the short- and medium-term implications for their finance ministries. What are the paths out of the emergency schemes? How are governments planning to restart their economies and what will it mean for their finances, and their financial sectors? How is this crisis fundamentally reordering their priorities in both developed and emerging economies?

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

The OMFIF/EY Covid response series: Stimulus transmission and the banking sector

The OMFIF/EY Covid response series: Stimulus transmission and the banking sector

May 7, 2020

How are commercial banks coping with Covid-19? Obliged to implement government-guaranteed lending quickly while also handling other crisis-related operational and commercial challenges, they have their work cut out. What has worked well and what has not, yet? How are the opposing needs of speed and prudence reconciled? How are banks preparing for impairments to their loan books? What does the crisis mean for their digital transformations? And is this the opportunity to restore the reputational damage of 10 years ago?  OMFIF Chief Executive Officer John Orchard discusses these themes with Jan Bellens, global sector leader, banking & capital markets at EY.

Download the written conversation: https://www.omfif.org/wp-content/uploads/2020/05/Transcript-EY-Jan-Bellens-JO-vers.docx 

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

Week in review: German constitutional court v ECB, the dollar-renminbi conundrum, and OMFIF’s Digital Monetary Institute

Week in review: German constitutional court v ECB, the dollar-renminbi conundrum, and OMFIF’s Digital Monetary Institute

May 7, 2020

OMFIF’s Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on the German constitutional court ruling on Europe's quantitative easing, the global role of the dollar and renminbi, and digital finance.

Articles and other items referenced:

  1. Conflict looming over ECB scrutiny and independence: https://www.omfif.org/2020/05/conflict-looming-over-ecb-scrutiny-and-independence/
  2. The dollar-renminbi conundrum: https://www.omfif.org/2020/05/the-dollar-renminbi-conundrum/
  3. OMFIF Digital Monetary Institute: https://www.omfif.org/dmi
  4. Neighbours look to China for payment technology: https://www.omfif.org/2020/05/neighbours-look-to-china-for-payment-technology/
  5. Crisis of disconnection: https://www.omfif.org/2020/05/crisis-of-disconnection/
  6. Analysing the world economic outlook: https://www.omfif.org/events/the-great-lockdown-analysing-the-world-economic-outlook/
  7. EIB policy response to Covid-19: https://www.omfif.org/events/eib-policy-response-to-covid-19/
  8. The Federal Reserve's outlook for testing times: https://www.omfif.org/events/the-federal-reserves-outlook-for-testing-times/
  9. Economic impact of coronavirus on South Korea: https://www.omfif.org/events/economic-impact-of-coronavirus-on-south-korea/
  10. Japan's response to Covid-19: https://www.omfif.org/events/japans-response-to-covid-19-impact-on-financial-markets-and-economy/
  11. Economic outlook for Japan: https://www.omfif.org/events/economic-outlook-for-japan/

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

Week in review: Central bank independence, how to escape a recession, and demystifying debt

Week in review: Central bank independence, how to escape a recession, and demystifying debt

May 1, 2020

OMFIF’s Julie Levy-Abegnoli looks back over some of the most recent articles published on the OMFIF website, including those on central bank independence, how to escape a recession, and measuring debt sustainability.

Articles and other items referenced:

  1. End of myth of ‘independent’ central banks: https://www.omfif.org/2020/04/end-of-myth-of-independent-central-banks/
  2. The misnomer of central bank ‘independence’: https://www.omfif.org/2020/04/the-misnomer-of-central-bank-independence/
  3. Global financial stability overview: https://www.omfif.org/podcast/global-financial-stability-overview-markets-in-the-time-of-covid-19/
  4. How to escape a recession: https://www.omfif.org/2020/04/how-to-escape-a-recession/
  5. Demystifying debt dynamics: https://www.omfif.org/2020/04/demystifying-debt-dynamics/
  6. Bank of England communications - Engaging, educating and building trust: https://www.omfif.org/podcast/bank-of-england-communications-engaging-educating-and-building-trust/
  7. German economic outlook and Covid-19 response: https://www.omfif.org/events/german-economic-outlook-and-covid-19-response/
  8. Ensuring capacity for recovery through sustainable development bonds: https://www.omfif.org/events/ensuring-capacity-for-recovery-through-sustainable-development-bonds/
  9. Hungary’s response to Covid-19: https://www.omfif.org/events/hungarys-response-to-covid-19/
  10. Infrastructure investments in India: https://www.omfif.org/events/infrastructure-investments-in-india/

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

 

Dollar hegemony and the future of the renminbi
Bank of England communications: Engaging, educating and building trust

Bank of England communications: Engaging, educating and building trust

April 30, 2020

In 2018, the Bank of England produced a research report with the UK's Behavioural Insight Team titled, 'Enhancing central bank communications using simple and relatable information'. The report looked into how usual modes of communication can be adapted to increase the broader public's understanding of central banks' policies.

David Bholat, senior manager, advanced analytics and co-author of the Bank's report, and Chris Peacock, head of content creation at the Bank of England, join OMFIF's Helen Gibson to discuss the report and its findings, before looking at how the BoE is using more simplified language to educate the public and increase their engagement with, and understanding of the Bank's policies.

Further reading:

https://www.omfif.org/gpi-2019-special-report-central-bank-communications/

https://www.omfif.org/2019/10/lagardes-communications-challenge/

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

Global Financial Stability Overview: Markets in the time of COVID-19

Global Financial Stability Overview: Markets in the time of COVID-19

April 28, 2020

As the Covid-19 crisis upends the global economy, the outlook for 2020 has changed profoundly. Borrowing costs have increased significantly and global financial flows have been severely disrupted. The International Monetary Fund and other institutions have responded swiftly by implementing emergency measures and adjusting their assessments. Fabio Natalucci, deputy director of the monetary and capital markets department at the IMF, joins Mark Sobel, US chairman of OMFIF to discuss the Fund’s Global Financial Stability Report and its outlook for the global economy.

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