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December 3, 2015

Europe
European Central Bank Rate Move, a Turning Point for Europe

At the governing council’s meeting today, the European Central Bank (ECB) announced that it will cut benchmark deposit rate to -0.3 percent, extend its quantitative easing (QE) program to at least Ma…

Central bank rates in Europe

May 22, 2024

Burkina Faso
When Civilians Become Targets

Recurrent deadly encounters between soldiers and civilians across West Africa offer an instructive glimpse into the state of civil-military relations in the region.

A man uses his mobile phone beside army soldiers who sit on top of a military vehicle.

July 24, 2023

United States
Why Washington Should Give Up the World Bank Presidency

To boost the Bretton Woods institutions, and parry challenges from Beijing, Washington should give up the World Bank presidency.

World Bank

October 31, 2014

Europe
Three Central Banks

Today’s central bank news tells us a lot about the risks and rewards of proactive central banking. The Bank of Japan (BoJ) surprised me (and nearly everyone else ) with a dramatic expansion of its u…

May 22, 2024

China
Advanced Manufacturing to be a Focus of China’s July Party Plenum

China's third plenum will likely emphasize manufacturing as a tool to remedy domestic economic problems, which may run the risk of heightening tensions with its trading partners.

A worker inspects batteries for electric vehicles being manufactured at a factory in Dongguan, China.

November 3, 2014

Europe and Eurasia
The ECB Fails to Stress Banks Over the One Critical Variable It Controls: Inflation

Relentlessly falling inflation is bad news for Eurozone banks.  It increases the real (inflation-adjusted) value of borrower debt and the real cost of servicing that debt.  It causes loan defaults…

The ECB Fails to Stress Banks Over the One Critical Variable It Controls: Inflation