Global Economic Prospects 2015

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

Development Prospects

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Global Weekly: Major Lessons for Emerging Markets from the Taper Tantrum

Global Macroeconomics Team's picture

The U.S. Federal Reserve is expected to begin raising policy interest rates in the near term, and thus commence a tightening cycle for the first time since the financial crisis. While a disorderly reaction from markets is not expected, some lessons can be drawn from the taper tantrum episode regarding sources of vulnerabilities and policy responses.

Global Weekly: Implications of the European Central Bank's Quantitative Easing for Developing Countries

Global Macroeconomics Team's picture

Quantitative easing by the European Central Bank has helped maintain low global borrowing costs, while contributing to a depreciation of the euro and broad-based appreciation of the U.S. dollar. Low interest rates in the Euro Area could provide ongoing support to capital flows to developing countries and help reduce pressures from a gradual normalization of U.S. monetary policy.