The global economic recovery is slowing as elevated commodity prices, weakened economic sentiment and rapid tightening of global rates take their toll. There will be uneven growth across many economies after the crystallisation of multiple downside risks, such as rising inflation, central bank tightening, Russian aggression in Ukraine, emerging market vulnerabilities and a correction of bubbly financial asset markets. Faster policy tightening will prevent inflation from becoming more deeply engrained but it raises the risk of policy mistakes that exacerbate financial instability.
Tax cuts will not solve stagflation By Brian Reading In the Lilliputian war of Tory succession, all rivals are promising lower taxes. None can explain how this will end stagflation or solve the cost-of-living crisis. Lower taxes will make matters worse by redistributing income to those that can afford losses and away from those who can’t.
MEETINGS Prospects for emerging markets Tuesday 6 September, Broadcast Ayhan Kose, chief economist and director of the prospects group in the equitable growth, finance and institutions practice group of the World Bank, joins Mark Sobel, US chair, OMFIF, for a discussion on the global macroeconomic outlook.
ON DEMAND Why do we need a social taxonomy? Elia Trippel, policy analyst at the Organisation for Economic Co-operation and Development, speaks with Katerina Atkins, programme coordinator of OMFIF’s Sustainable Policy Institute, about the objectives and metrics of a social taxonomy and its development in the European Union.
LATEST REPORT Sustainable Policy Institute Journal In the summer edition of the journal, contributors lay out why the ‘S’ in ESG is becoming a priority for investors and why social and human rights issues are taking centre stage.
