Global Economic Prospects 2015

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Global Daily: ECB meets bond-buying target for quantitative easing

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Financial Markets

The European Central Bank said it has reached its bond-purchasing target of some €60 billion in the first month of its quantitative easing program. The ECB purchased €47.4 billion of public-sector bonds in March, and settled the rest of the monthly quota with covered bonds and asset-backed securities. The central bank has committed to buy about €60 billion of government and corporate debt a month until at least September 2016, making the stimulus package’s total value about €1.1 trillion.

Global Weekly: Impact of Lower Oil Prices on Activity and Inflation1

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Significant oil price declines have historically been followed by fluctuations in activity and inflation in many countries. Empirical evidence suggests that the effects of oil prices on activity and inflation depend on the underlying source and direction of changes in prices. Also, the impact has declined over time.

World Bank published latest commodity prices: April 2015

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In March 2015, energy prices declined by 3%, while the prices of non-energy commodities went down by 2.2%. Food prices were down by 2.6%. Beverages dropped by 5.5%. Raw materials decreased by 1.4%, and fertilizers dropped by 3.7%. Metals and minerals slipped slightly by 0.9%, and precious metals fell by 3.9%.
To access recent and long-term historical prices and other commodity-related information, please click here.

Global Daily: Dollar and Treasury yields slid after weak U.S. jobs report

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The U.S. dollar slumped against the euro and yen after the weaker-than-expected U.S. jobs data in March prompted investors to reassess the path of Fed’s monetary tightening this year. The greenback declined 1% to $1.0993 per euro, and fell 0.7% to 118.89 yen. The dollar index, which tracks the dollar against the basket of its biggest peers, dropped 0.7% to a two-week low of 96.72.

Global Daily: U.S. private-sector job growth at slower pace in March.

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Financial Markets

U.S. stocks slid for a second day on Wednesday and the dollar fell after weaker-than-expected U.S. private-sector job growth in March. Both the S&P 500 and the Dow Jones Industrial Average lost 0.4% in afternoon trading. The dollar weakened 0.3% to $1.0763 per euro, and the greenback lost for the first time in three days against the yen. Meanwhile, U.S. Treasury prices rose, with the benchmark 10-year yield sliding below 1.9%.

Global Daily: U.S. initial jobless claims slid to five-week low

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Financial Markets

Oil prices rallied on Thursday after Saudi Arabia and its allies started air strikes in Yemen, boosting demand for safe-haven assets from gold to Japanese yen. Brent crude surged more than $3 to close to $60 a barrel, and the price of U.S. crude saw a similar surge as it topped $51 a barrel. In the currency market, the dollar weakened against traditional safe-haven currencies such as the Swiss franc and the yen. Meanwhile, gold prices climbed 0.6% to pace gains among metals.