Economics
ECB paper argues for existence of ‘liquidity coverage channel’
Researchers analyse impact of eurozone central banks’ actions after onset of Covid-19 pandemic
US inflation expectations inch higher
New York Fed survey finds rise in expectations at one-year horizon, but not at longer term
FSB and IMF wrap up post-crisis data gaps initiative
Some issues remain despite “significant progress” since 2009, report finds
Holding the line: the right response to war and Covid
Jagjit Chadha offers advice to policy-makers struggling to navigate between economic shocks
Book notes: Two hundred years of muddling through, by Duncan Weldon
Insights into UK economic history offer lessons for today’s policy-makers
Atlanta Fed revises growth estimate downward
This quarter has the possibility of officially beginning a US recession
Central banks and UN working to improve remittance data
Flows are critical income sources for many economies, but data is often limited
Fed paper argues capitalism killed the Phillips curve
Shift in the balance of power between capital and labour likely to hold down inflation, authors find
Eurosystem’s bond holdings may hamper market functioning – paper
Asset scarcity caused by Covid-19 emergency programme has lowered repo rates, researchers say
Fed’s favoured inflation gauge falls
PCE inflation reading for April 2022 was down from March
Real house price growth slowing slightly, BIS says
Advanced economies still seeing price increases that are close to historic highs
Paper explains why ‘Fed put’ is not as reliable as investors might like
Disagreement between Fed and market can create perception central bank is “behind the curve”
IMF calls for action on fragmenting global economy
Senior officials say world is facing “confluence of calamities” and leaders have been complacent
NY Fed releases supply chain pressure tracker
Recent months have seen resurgence of supply chain bottlenecks
BIS report highlights macro risks of inequality
Persistent inequality could weaken policy and create negative feedback mechanism, research finds
Small drop in US CPI hints at inflation reprieve
Economists estimate US is past inflation peak, but other G7 nations may still be on the upward leg
ECB paper analyses financial crisis contagion
Crisis in one region can trigger more as investors reassess other markets, researchers say
Norway’s headline inflation increases to 5.4%
Analysts say 50bp rate hike becoming more likely
BIS paper says people should have more power over their data
Authors propose “consent-based architecture” to let consumers control how data is used
BIS economists see ‘limited’ evidence of wage-price spiral
But institutional shifts and changing expectations could set stage for greater price increases
BIS figures show banks cutting Russia exposures
Exposures down almost half since Russia annexed Crimea in 2014