Economics
Markets react more to macro news in uncertain times – study
Monetary policy uncertainty amplifies bond yields’ response to data releases, BIS paper says
Oil price shock to weigh on growth in Guatemala – IMF
Institution adds that central bank’s current monetary policy stance is ‘appropriate’
Norges Bank says third of crypto owners had ‘negative’ experience
Biannual survey shows most Norwegians have never heard of DeFi or stablecoins
Argentina on solid footing to head off oil shock – BCRA
Vice-president says recent uptick in inflation was driven in part by seasonal factors
Euro ‘more appealing’ for both invoicing and reserves, ECB finds
Bank’s annual report on currency’s use draws on findings from Central Banking’s benchmarking
Remote working drove US youth unemployment – NY Fed study
Economists say uptick in joblessness among US graduates predates spread of AI
Economists find ‘strong and stable’ Phillips curve in China
Past studies had struggled to pin down a clear link between inflation and output in the economy
Official lending replaces private capital during crises – paper
Public creditors charge below-market interest rates on loans to sovereigns in crises, NBER study finds
Haiti’s woes exacerbated by supply shocks – governor
Ronald Gabriel says regional central banks should adopt more internationalist approach
IMF approves $1bn disbursement to Argentina
Board releases funds following agreement in April
AI will transform growth and employment structure – Bailey
The question is when and how this will happen, BoE governor says
Europe’s central banks face tough policy calls – Barclays CEO
Venkatakrishnan also spoke on UK political uncertainty, Brexit and banking regs
Lane and Waller: research mix is extremely valuable
Central banks’ short- and long-term studies both benefit policy-making, Fed and ECB officials say
Economy resilient despite restrictive rates, says BCB governor
Galípolo also tells Senate committee that fallout from Banco Master case is ‘extremely serious’
BCV head hails Venezuela’s debt restructuring
Acting central bank chief says country’s break with IMF should ‘never have happened’
Venezuela launches $150bn debt restructuring process
Government looks to rework both sovereign and national oil company’s debt
Dollar’s centrality in FX markets makes it more volatile – study
Greenback’s use as ‘vehicle currency’ makes it more sensitive to external shocks, economists say
Former RBA officials say budget offers no inflation relief
Economists say Australian spending plans will create modest fiscal expansion with some upside risk
AI might raise r* due to wealth effects – Goolsbee
Impact on natural rate depends on whether productivity growth comes as surprise, says Chicago Fed president
UK needs closer EU ties in multipolar world – BoE’s Bailey
Governor urges greater support for multilateral institutions to solve growing global imbalances
Rising global imbalances will be difficult to smooth out – panel
BoE’s Alan Taylor says imbalances bring financial stability risks