Global Economic Prospects 2015

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

Development Prospects

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World Bank published latest commodity prices: February 2015

John Baffes's picture

In January 2015, energy prices dropped sharply by 19.8%, while the prices of non-energy commodities went down slightly by 3.2%. Food prices were down by 2.5%. Beverages declined by 2.3%. Raw materials went down by 1.2%, and fertilizers inched up by 0.9%. Metals and minerals decreased by 6.3%, but precious metals went up by 4.4%.

Prospects Weekly: Fiscal rules impose numerical constraints on budgetary aggregates, Stabilization funds set aside receipts from significant natural resource revenues

Global Macroeconomics Team's picture
The past procyclicality of fiscal policy in developing economies has been attributed to political economy pressures. Credible and well-designed institutional mechanisms can help mitigate these pressures and support fiscal discipline. In particular, fiscal rules, stabilization funds, and medium-term expenditure frameworks can help strengthen fiscal space and support countercyclical fiscal policy.

Prospects Daily: Russia downgraded to ‘junk’ by S&P, U.K. growth at 7-year high, Turkey capacity utilization and confidence slip in January

Global Macroeconomics Team's picture
Financial Markets

U.S. Treasuries advanced on Tuesday, pushing 30-year yields as much as 8 basis points (bps) to a record low of 2.328%. Yields on benchmark 10-year notes also fell 6 bps to 1.77%. The rally in U.S. government bonds is supported by 10-year yields averaging 82 bps more than those on G7 counterparts.