Britain has launched a £30bn fiscal stimulus to counter the coronavirus outbreak, the biggest increase in borrowing since 1992. Lord (Norman) Lamont, chancellor of the exchequer in 1992, joins David Marsh, OMFIF chairman, to discuss the end of austerity.

 

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

Ahead of the much-anticipated ECB policy meeting on 12 March, Danae Kyriakopoulou, OMFIF’s Chief Economist and Director of Research, speaks to former Governing Council Member and Central Bank of Cyprus Governor Panicos Demetriades and Bank of America Merrill Lynch Research Analyst Alastair Ryan on the economic impact of Covid-19 and expectations for the ECB’s response to the shock. They discuss banks’ preparedness to economic shocks, the potential impact of a rate cut on bank profitability, and the range of measures at the ECB’s menu including expanding quantitative easing and making use of its expanded supervisory role through supervisory forbearance. Finally, they explore the need for fiscal policy and discuss the options for optimising the fiscal-monetary policy mix to respond to economic shocks.

 

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

In this episode of Synopsis, OMFIF Subeditor Julie Levy-Abegnoli looks back over the most recent articles published on the OMFIF website, including those on Libor, Japanese austerity, and how central banks should respond to the coronavirus crisis. Later, she talks about the Gender Balance Index 2020, which was launched on 5 March.

Articles and other items referenced:

Volatility threatens Libor replacement

Japan’s austerity lessons

Fed’s coronavirus conundrum

Fed should bring back dollar swap lines

First big test for Lagarde

Gender Balance Index 2020

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

In a somewhat unexpected turn of events, Joe Biden has emerged as the frontrunner in the US Democratic primaries. The contest to find the candidate to beat President Donald Trump is quickly becoming a two-horse race to scoop up the remaining delegate votes and build a coalition of supporters in key states. Mark Sobel, US chairman of OMFIF, and Tony Fratto, partner at Hamilton Place Strategies and former deputy press secretary at the White House and assistant secretary at the US Department of the Treasury, discuss the results of Super Tuesday and the implications for the US presidential election, the Democratic party and the economy.

 

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

On 27 February, the UK government released a policy paper on its approach to negotiations with the European Union. Andrew Pilgrim, associate partner for financial services and government at EY, and Georgina Wright, senior researcher at the Institute for Government, join OMFIF’s Ben Rands to provide an overview of what this paper means for the future UK-EU relationship. They discuss the explicit link between fisheries and finance in the negotiations, prospects for a ‘level playing field’, and the need for Brussels to manage the likelihood of dynamic alignment.

 

Further Listening:

Are financial services prepared for a no deal Brexit?

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

In this episode of Synopsis, OMFIF Subeditor Julie Levy-Abegnoli looks back over the most recent articles published on the OMFIF website, including those on how Pete Buttigieg is attempting to set himself apart from his Democratic rivals, central banks' role in shaping the future of payments, and Norway's sovereign wealth push.

Articles and other items referenced:

Buttigieg positions himself as Obama successor

The future of payments

Norway’s green sovereign wealth push

Developing European capital markets: Ensuring economic stability through strengthening capital markets across the euro area

OMFIF Gender Balance Index 2020 launch

The role of Poland in the EU

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

On 21 February, Andy Rothman, investment strategist at Matthews Asia, joined Mark Sobel, US chairman of OMFIF, to discuss the impact of coronavirus on the Chinese economy and its neighbouring countries. They assessed the issues surrounding the accuracy of economic and health data, the epidemic's effect on the consumer and services sectors, and prospects for rebound. They also compared the situation to that of the Sars outbreak, and outlined what macroeconomic or financial mitigation we can expect to see from the Chinese government. Later, they provided an overview of the latest on the US-China trade deal.

 

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

In this episode of Synopsis, OMFIF Subeditor Julie Levy-Abegnoli looks back over the most recent articles published on the OMFIF website, including those on central banks' barometer of political independence, the effect of monetary policy on trust in central banks, and sustainable finance initiatives in Southeast Asia. Later, Julie presents OMFIF's latest report, 'Tackling climate change: The role of banking regulation and supervision'.

Articles and other items referenced:

When central bankers' powers run out

Low trust impedes digital currency plans

Scaling up sustainable finance in Asia

Tackling climate change: The role of banking regulation and supervision

The next decade of digital finance

Winners and losers in the low-interest environment

Responding to uncertainty across Europe

The Australian and global economic outlooks

The UK's global economic position after Brexit

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

Philipp Steinberg, head of economic policy at the German economics ministry, joins Ellie Groves, OMFIF's programmes manager for Europe, to discuss the structural challenges Germany faces. Their conversation details how Berlin is responding to the reality of digitalisation, geopolitical uncertainty, climate change and demographic shifts. The podcast ends with a discussion on the banking sector and setting these issues into the wider context of the euro area.

 

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

In this episode of Synopsis, OMFIF's weekly roundup of news and analysis, Subeditor Julie Levy-Abegnoli looks back over the most recent articles published on the OMFIF website, including those on Friedrich Merz's hurdles on the path to German leadership, the US Department of Commerce's recent proposal on currency valuation, and the possible power struggle awaiting Andrew Bailey, the incoming governor of the Bank of England. To receive our newsletters, visit https://thinktank.omfif.org/subscribe.

Articles and other items referenced:

Merz's hurdles on German leadership path

US Department of Commerce’s harmful proposal

Andrew Bailey’s Brexit battles

ESG and investment management: Official institutions’ approach to climate risk

Balancing Germany’s fiscal policy, green investment and ‘schwarze Null’ budget

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