There is rare universal agreement: the global economic outlook for 2023 is bad. Global growth will be low, even perhaps recessionary, and average inflation and unemployment high. But just how bad will it be? The answer isn’t clear. One might have hoped questions permeating the post-pandemic outlook would recede. But that does not appear to be the case for 2023, even apart from geopolitics. Answers remain few and far between. Markets and policy-makers face huge challenges.
British budget debacle helping guide ECB thinking By David Marsh The ECB’s gradual reduction of its bloated balance sheet, starting in 2023, will be strongly influenced by the effects of the financial market turbulence after the UK’s ill-fated 23 September ‘growth plan’.
ON DEMAND OMFIF Asia forum: Session V: Digital assets Innovative projects at central banks and monetary authorities in Asia are assessing the viability of tokenised deposits, stablecoins and CBDCs. This panel compares projects and the potentials and pitfalls of these solutions. Watch the video here.
LATEST REPORT Future of payments 2022 This year’s report focuses on the challenges of cross-border payments for emerging market countries, delving into the validity of cryptocurrencies and stablecoins as a means of escaping domestic inflation and sending cheap remittances.
