William De Vijlder

Group Chief Economist BNP Paribas

Tag : Central Bank

New monetary season

For the financial markets, summer’s end is often the occasion for deep-felt upheavals. This summer, investors left on vacation filled with trepidation about the economic impact of Brexit, about robust job creations in the US and how they might change monetary policy prospects, and about the outcome of European banks’ stress tests.

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Higher oil prices: good news or bad?

On 20 January, Brent crude oil was trading at USD27.88 a barrel (EUR25.52), the lowest price this year. Prices recently rebounded to USD50 (EUR44.70). Without trying to forecast future oil pricing trends – which, as shown by the experience of 2015, are even more difficult to predict than other economic variables – it is worthwhile to consider the consequences of higher prices

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Monetary boomerang

In most countries, central bank independence from government is taken for granted. Yet, the autonomy, i.e. the ability to do whatever a central bank considers necessary within its mandate, is sometimes surprisingly limited, albeit for other reasons.

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The first rate hike: source of relief or cause for concern?

The meeting of the Federal Open Market Committee today and tomorrow has created significantly more nervousness than is normally the case. Many consider that the time is ripe for a first hike of the Federal funds rate in this business cycle, whereas others argue that it would be better to wait a little bit longer. Views differ and that is what makes a market.

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Full throttle, limited oomph: why global growth remains slow

Recently there was a weekend gathering of sports cars near my home. I will not go into the question whether it’s rational to drive a car which reaches the legal speed limit in second gear (what do you do with the five or six other gears?), but as an economist, it made me think. Are […]

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