Download the World Economic Situation and Prospects Monthly Briefing No. 76
March 2015 Summary
??Central banks in developed and emerging economies ease monetary policy
Agreement reached to extend Greece's bailout programme through June
Inflation pressures increasing in CIS economies, while easing in many other emerging economies
Global issues
Central banks in developed and emerging economies continue to ease monetary policy
Against the backdrop of subdued growth and downward pressure on inflation, many central banks across the globe have further eased monetary policy in recent months. While the United States Federal Reserve (Fed) is projected to start the process of normalizing…
World Economic Situation and Prospects Monthly Briefing No. 76
Download the World Economic Situation and Prospects Monthly Briefing No. 75
February 2015 Summary
??Major central bank policy swings in Switzerland and the euro area
Euro area deflation sets in
Oil exporters face increased fiscal challenges, while lower commodity prices ease inflationary pressures
Global issues
The Swiss National Bank abandons its minimum exchange rate on the euro against the franc
The Swiss National Bank (SNB) abandoned its minimum boundary on the exchange rate of the euro to the Swiss franc (CHF), which was introduced in 2011 and set at 1.20 CHF to the euro. At that time, the euro crisis caused major capital flows away from the euro into the franc. To limit the…
World Economic Situation and Prospects: Monthly Briefing, No. 75
Download the World Economic Situation and Prospects Monthly Briefing No. 74
January 2015 Summary
??Moderate global economic expansion in 2014, as post-crisis adjustments continued
In 2015, developed economies to be led by a stronger U.S. economy, while downside risks remain significant in Japan and the euro area
Developing economies to be led by East Asia, while several large emerging economies face internal and external challenges
Global issues
Global recovery hampered by unfinished post-crisis adjustments
The global economy continued to expand during 2014 at a moderate and uneven pace, as the prolonged recovery process from the global financial crisis was still saddled with unfinished…
World Economic Situation and Prospects: Monthly Briefing, No. 74
Moderate global economic expansion in 2014, as post-crisis adjustments continued
In 2015, developed economies to be led by a stronger U.S. economy, while downside risks remain significant in Japan and the euro area
Developing economies to be led by East Asia, while several large emerging economies face internal and external challenges
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Global issues
Global recovery hampered by unfinished post-crisis adjustments
The global economy continued to expand during 2014 at a moderate and uneven pace, as the prolonged recovery process from the global financial crisis was still saddled with unfinished post-crisis adjustments. The global recovery was also hampered by some…
World Economic Situation and Prospects: January 2015 Briefing, No. 74
Download the World Economic Situation and Prospects Monthly Briefing No. 73
December 2014 Summary
?? Further appreciation of the U.S. dollar
Japan registers technical recession during the third quarter
Lower inflation rates in many countries across the world as oil prices decline
Global issues
Assessment of the potential impact of heightened geopolitical tensions around Ukraine
The World Economic Situation and Prospects 2015 presents a very subdued outlook for the euro area, where the underlying growth momentum has decelerated to the point that an exogenous event could lead to a return to recession. One of the downside risks identified is an escalation of the geopolitical crisis around…
World Economic Situation and Prospects: Monthly Briefing, No. 73
Download the World Economic Situation and Prospects Monthly Briefing No. 72
November 2014 Summary
Sharp decline of oil prices and renewed volatility in financial markets
Low inflation in Europe remains a concern
Diverging monetary policies in developed economies
Global issues
Lowest oil prices in the past 4 years
On October 15, the Brent oil price fell to $84.02 pb, the lowest price since November 2010 (figure 1), as a result of weak demand, abundant supply and a stronger U.S. dollar. Growth in oil demand has been slowing down throughout 2014, following sluggish economic growth in several key economies, including Western Europe and Japan. In addition, weaker-than-expected gross…
World Economic Situation and Prospects: Monthly Briefing, No. 72
October 2014
Summary:
Sharp appreciation of the U.S. dollar
Western European economy continues to struggle
Ebola takes severe tolls in West Africa
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Global Issues
Developed economies
Economies in transition
Developing economies
Global issues
Emerging economies have seen moderate recovery in capital inflows, but remain vulnerable to financial shocks
Following the financial market turmoil in mid-2013 and early 2014, emerging economies saw a recovery in capital inflows between February and July amid more stable external financial conditions. Most emerging market currencies have strengthened against the euro and the yen since the beginning of the year, a major…
Monthly Briefing on the World Economic Situation and Prospects, No. 71
September 2014
Summary:
Russian Federation and European Union economies affected by reciprocal economic sanctions
U.S. labour market situation presents challenge to setting monetary policy
Brazil falls into recession, while India expands faster than expected
The unfolding geopolitical crisis caused by the situation in Ukraine?has led to an imposition of reciprocal economic sanctions and disruptions in the established trade flows between the Russian Federation and many leading Organization for Economic Cooperation?and Development (OECD) countries. Those countries have introduced a series of increasingly tough sanctions (moving from the?relatively mild ?stage one? in early 2014 to ?stage…
Monthly Briefing on the World Economic Situation and Prospects, No. 70
August 2014
Summary:
Global equity markets face potential policy shocks
?BRICS announce the creation of the?New Development Bank
?Argentina defaults on its sovereign debt
Extremely loose monetary policies adopted by major monetary?authorities in developed economies over the past few years have?helped equity markets in both developed and developing economies?to bounce back from the low of 2009.
During the sixth annual summit of the BRICS countries (Brazil,?Russian Federation, India, China and South Africa), the creation?of the New Development Bank (NDB) was officially announced.?The BRICS countries, which together represent approximately 40?per cent of the world population and one fifth…
Monthly Briefing on the World Economic Situation and Prospects, No. 69
July 2014
Summary:
World trade continues sluggish recovery
?Oil prices soar amid political instability in Iraq
Disappointing first quarter for developed economies
Despite expectations for a return to previous growth rates this year,?world trade has grown relatively slowly for the first months of 2014.?Prior to the crisis, world trade grew at about double the growth?rate of world gross product (WGP), but in the past two years trade?growth has slowed to just barely matching the growth of WGP.?The hope was that a rise in economic activity in developed countries, which still account for a major portion of world trade and are?important trading partners for many developing countries, would?…
Monthly Briefing on the World Economic Situation and Prospects, No. 68
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