Increase in inflation will not last, Special ECB conclave to debate inflation and asset purchases, and more
THE WEEKEND REVIEW – OMFIF
Latest opinion and analysis from OMFIF around the world
Increase in inflation will not last: This year’s recovery, after months of life under lockdown, stands out from previous ones; it started with inflation roaring back. Normally the symptom of overheating in an economy reaching full speed, inflation this time reflects a weakened economy taken by surprise. Disrupted production chains and labour markets keep supply from rising to satisfy demand. Evidence points towards disruptions being on the mend. Together with waning base effects, this should push inflation down by the turn of the year, write Agnès Belaisch and Matteo Cominetta.
Special ECB conclave to debate inflation and asset purchases: A special ECB meeting next week will discuss running unconventional monetary policies despite higher-than-2% inflation in key countries. The meeting can be expected to finalise the ECB’s long-mooted ‘symmetrical’ definition of price stability aimed at 2% inflation. writes David Marsh.
Will productivity and growth return after the Covid-19 crisis?: Drawing from the findings of a McKinsey Global Institute report, speakers focus on the possibility of pandemic induced changes leading to higher output and what a sustainable recovery might look like. They also elaborate on four different scenarios of what might occur in eight key industries across the globe.
Second quarter in focus: OMFIF’s Katie-Ann Wilson and Bhavin Patel review the DMI’s activities in the past three months. They discuss highlights of meetings and research including the DMI Symposium that attracted 115 central banks – as well as key themes including the progress of the digital renminbi and how this will affect competition with the euro and dollar.
Covid-19 shifts pattern of globalisation: Globalisation is undergoing a number of profound structural changes that we are only beginning to understand. We have a very human desire to think that life will go back to normal after the pandemic. But the global economic game will be very different. Get used to it, writes Marco Annunziata.
28 June-2 July 2021, Vol.12 Ed.26