Global Economic Prospects 2015

The global economy is still struggling to gain momentum. Read more ...

Development Prospects

Providing information, analysis, and advice on global trends in the world economy.  Find out more ...

Global Economic Monitor

Now free. Daily and monthly updates on global economic developments and relevant topical issues. Find out more ...

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Can Remittances Help Promote Consumption Stability?

Remittance inflows to developing countries constitute a resilient source of foreign finance. They contribute to consumption stability and can act as a counter-balance when capital flows weaken.
Remittances have numerous benefits for development. They have been associated with accelerated poverty alleviation, improved access to education and health services, and greater financial development. In addition, remittances may enable consumers to maintain their consumption levels despite illness or some other calamity, which may be critical at very low levels of income.

Global Daily: Euro slides to 12-year low on record low borrowing costs

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Financial Markets

The euro depreciated further against the dollar on Wednesday, slumping as much as 1.5% to a 12-year low of $1.056 before stabilizing slightly, as the ECB’s QE program continued to push the region’s bond yields down to new record lows. The single currency was broadly weaker against other major currencies, sinking to a 7-year low versus sterling at 70.145 and an 18-monh low against the yen at 128.20.

Global Daily: U.S. private sector job growth disappoints

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Financial Markets

The euro fell for a fifth day versus the dollar on Wednesday ahead of the European Central Bank policy meeting tomorrow, which will provide more details on €60 billion a month stimulus plan. The single currency was trading 0.8% lower against the dollar at $1.1086, approaching its 11-year low of $1.1098 last reached on January 26 this year. The euros’ lingering weakness is likely to reflect a growing divergence in growth and monetary policy outlook between Europe and the U.S.

World Bank published latest commodity prices: March 2015

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In February 2015, energy prices increased by 11.7%, while the prices of non-energy commodities went down slightly by 1.5%. Food prices were down by 2.3%. Beverages declined by 1.7%. Raw materials increased by 2.0%, and fertilizers dropped by 3.1%. Metals and minerals decreased by 1.9%, and precious metals slipped by 2.1%.
To access recent and long-term historical prices and other commodity-related information, please click here.

Global Daily: Ukraine hikes policy rate to 30%

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Financial Markets

U.S. stocks retreated on Tuesday, with the Dow Jones Industrial Average and S&P 500 index easing back from their record closing highs on Monday, while the dollar weakened against a basket of major counterparts.  European and Asian stocks were mostly weaker as investors were cautious of a potentially overheating market.  The benchmark MSCI World stock index slipped 0.2%.  The dollar index (DXY), which tracks the greenback against a group of six major currencies, fell 0.25% from its 11-year peak to 95.214.