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Ahead of the ECB: is a rise in interest rates on the horizon?
As central banks navigate a world of inflation amid the Covid-19 recovery, the European Central Bank is at the heart of the debate. With the Bank of England signalling a rise in interest rates, will the ECB hold steady? Ellie Groves, managing director, Economic and Monetary Policy Institute, OMFIF, is joined by Brigitte Granville, economist and professor of international economics and economic policy in the School of Business and Management at Queen Mary University of London, director of the Centre for Globalisation Research and author of Remembering Inflation (Princeton University Press, 2013). They discuss the new environment central banks find themselves in, the expanding mandates of central banks with the risk of climate change and the political reality the ECB is operating in – especially as we get close to the French election.
Do we need programmable central bank digital currency?
Wolfram Seidemann, chief executive officer of G+D Currency Technology, joins John Orchard, CEO of OMFIF, for a discussion about the need for programmable central bank digital currency. They delve into issues such as the role of Covid-19 in accelerating CBDC development, requirements needed for a CBDC, use cases for programmability as a feature of CBDCs, where should the programmability logic lay and the potential for programmability to incentivise CBDC user adoption and to drive innovation.
Kazakhstan’s economic growth and investment potential
With a focus on green investments, gas infrastructure and economic development, John Orchard, OMFIF’s chief executive officer, talks with Erlan Idrissov, Kazakhstan’s ambassador to the UK, and James Martin, co-chairman of the board of directors at the Astana International Financial Centre, on the impact of Covid-19 on the Kazakhstan economy, it’s road to recovery and investment focus over the medium term. They discuss the need for an ESG focus and how Kazakhstan is aligning with global standards to attract investors.
Absa Africa Financial Markets Index 2021
Since its launch in 2017, the Absa Africa Financial Markets Index has shone a crucial light on the opportunities for investment in region. As Africa looks to build back better after the Covid-19 crisis, the 5th edition of the index, compiled by OMFIF, is more important than ever. It is a vital part of policy-makers’ and market participants’ toolkit in this process and a benchmark for international investors looking to commit to the region.
Recent progress in building robust financial markets in the region helped many countries withstand the economic shock, but it also revealed that there is still a lot more room for improvement. Countries’ immediate need for resources to support fiscal policies during the crisis and the rapid withdrawal of international capital emphasised the importance of building local markets with sufficient depth and liquidity to withstand external shocks.
The events of the past two years also heightened awareness of climate change, and the power of capital markets can be harnessed to achieve efforts to combat it. As a result, this year’s pillars incorporate indicators that gauge how financial markets in the region are incorporating sustainability considerations.
This podcast is an extract from the live report launch, hosted on 13/10/21.
Watch the presentations of findings here.
Download the report here.
The Italian G20 Presidency
Ignazio Visco is a member of the governing council of the European Central Bank, the general board of the European Systemic Risk Board, the board of directors of the Bank for International Settlements, the steering committee of the Financial Stability Board, the board of governors of the World Bank and the Asian Development Bank. He is also alternate governor for Italy at the International Monetary Fund and the Inter-American Development Bank and takes part in the G7, G10 and G20 finance ministers and central bank governors meetings. In this podcast, he talks about Italy’s G20 presidency.
Building on OMFIF’s status as an independent think tank for central banks, the Sustainable Policy Institute brought together policy-makers, technology experts and investors on 29-30 September 2021 to push the boundaries of the discussion on the role of monetary policy, regulation and disclosure, as well as address key practical challenges, in driving greener financial markets to achieve net zero at a two day virtual symposium.
View more from the symposium here.
Developing sustainable business models: driving private investment into climate mitigation
As climate mitigation gets higher on the agenda, it is becoming increasingly important that financial institutions transition to sustainable business models to meet developing environmental, social and governance requirements, and achieve net zero. Pat Woo, global co-head for sustainable finance, KPMG, and Vikram Kumar, new business manager, infrastructure and natural resources, Asia Pacific, International Finance Corporation, join Emma McGarthy, head of policy analysis, sustainability, OMFIF, to discuss the key elements and frameworks required for sustainable business models. They discuss the impacts of new requirements, such as the Task Force on Climate-Related Financial Disclosures, regulatory frameworks such as taxonomies and how private investors can leverage capital for new renewable infrastructure.
I find this show smart, stimulating and thoughtful, highly recommended.