House prices
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
Reasons for refusing mortgages ‘do not explain racial disparity’
Minneapolis Fed’s study challenges explanations given for why people of colour are treated differently
Monetary policy transmission may have grown weaker – Dallas Fed
Research finds countries with slow and fast pass-through rates experience similar demand effects
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
CGFS draws lessons from 168 years of macro-pru policy
Controlling housing market risks can force authorities into difficult political economy terrain
Bank of Canada holds rates steady
Macklem says it’s clear the stance of policy is restricting inflationary pressures
Foreign real estate investment increases employment – research
The authors found the properties are often left empty, but drive up home values and employment
Svensson says house price metrics ‘unreliable and misleading’
Former Riksbank deputy governor says authorities are misjudging risks
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
How did Minneapolis become the first US city with 2% inflation?
Experts from the Minneapolis city government and Federal Reserve Bank stress housing options
Canadian official says mortgage rates not big cause of inflation
Kozicki says taking home loans out would make only small dent in core reading
China to ease mortgage rules and cut banks’ FX reserve ratio
Moves come on top of authorities’ recent support measures for property sector and stock market
House prices suffer steepest fall since global financial crisis
BIS data shows sharp falls in many advanced economies, though prices are still up on 2010
Shelter inflation set to fall significantly – SF Fed research
“Conservative” model predicts shelter inflation will be 0% in the US by summer 2024
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
Fed communication drives house price expectations – NBER paper
Researchers find people’s expectations vary widely and depend on clear explanations
Demand for better homes fuels unsustainable house prices – RBNZ study
Researchers say higher interest rates can reduce demand for better quality homes
Dallas Fed warns of global housing ‘slide’
US and German markets are out of touch with fundamentals, authors say
Credit constraints have small impact on housing market – paper
RBA economist revisits the effects of down payments on housing prices
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning