Recent efforts by some emerging market (EM) countries to diversify their currency reserves away from the US dollar have raised questions about the beginning of the end of USD dominance.
At this week’s ECB Forum on Central Banking in Sintra, climate change risks and their impact on monetary policy will feature prominently on the agenda.One of the awarded academic papers investigates how the transition to a net-zero emissions economy can affect the transmission of monetary policy.
Some larger economies slipped into recession earlier this year amid a difficult global economic outlook, with GDP growth averaging at only +2.5% and +2.3% in 2023-24, respectively.
Portfolios most exposed to equities and the agriculture and food services sectors feel the pinch of biodiversity loss. The results of our pilot study on pollination-service loss (PSL) allow for quantitative estimates of financial institutions’ portfolio exposure to biodiversity-related risk.
Eurozone corporate profit margins reached 40.8% of gross value-added at end-2022 (+0.6pp above the long-term average). But the devil is in the details.
Ageism is still pushing older workers out of the labor market: In the EU only 51% of the population aged between 60 to 64 is still active on the labor market. The main causes are difficulties to find an adequate job and long-term unemployment in higher ages since negative stereotypes about older workers persist.
With a debt/EBITDA ratio of 3.8x on average, US firms are more leveraged than European ones (3.3x). But Europe has a higher proportion of total debt maturing in one year (20% vs 14% for the US).
In our 2023 Allianz Trade Global Survey, we decided to check the pulse of companies in seven countries – the US, the UK, Germany, France, Italy, Spain and Poland. Over three weeks to mid-April, we surveyed a sample of high-level executives in around 3,000 companies that have export activities and suppliers and production sites located in foreign countries.
