Economics
Belarus’s governor predicts inflation will fall
Government imposed price controls after sanctions helped push inflation into double digits
ADB gives crisis-hit Pakistan $1.5 billion loan
Asian Development Bank extends aid as extensive floods add to major economic problems
Nominal interest rates strongly affect savings – ECB paper
Simple models based on real rates do not accord with eurozone data, researchers find
Armenian governor argues for ‘paradigm shift’ in forecasting
Base case should be abandoned in favour of multiple scenarios, says Martin Galstyan
US CPI inflation remains high
Headline reading falls slightly, while core inflation continues to rise
IMF opens long-term lending initiative
Resilience and Sustainability Trust will offer 20-year packages to mitigate long-term problems
Georgieva says Argentina needs permanent fix to FX problems
IMF releases latest $3.8bn financing tranche, as market inflation forecasts reach 100%
IMF publishes sober outlook for 2023
“Worst is yet to come”, says chief economist
IMF approves $3.8 billion for Argentina
Country has met most key targets, but 2022 inflation now projected to top 100%
Bernanke, Diamond and Dybvig win Nobel Prize
Economics prize goes to authors of widely cited work on financial crises
BIS project seeks better historical statistics
Collaboration between BIS, central banks and academia aims at better understanding of economic history
Expectations are key to carbon tax’s impact, says ECB paper
Inflation may rise if consumers doubt government’s commitment to raise green taxes, research finds
IMF warns UK government as pound resumes fall
BoE’s Huw Pill signals need for “significant monetary policy response” to government spending plan
Danish central bank slashes growth forecast and predicts higher inflation
“Everyone will feel” impact of tighter policy, governor acknowledges
Bundesbank vice-president calls for shift to ‘carbon accounting’
Proper calculation of carbon costs will mean firms disclosing private data, Claudia Buch says
Old people hit hardest by inflation, research finds
Authors find income effects and “Fisher channel” have the biggest impact on Spanish households
IMF paper explores second-round effects of oil shocks
Authors find oil shocks have greater impact where inflation is already high
UK inflation dips below 10%
Lower fuel costs bring down headline figure, but underlying inflation remains strong
US CPI inflation falls modestly
New York Fed reports “steep declines” in inflation expectations, but core CPI ticks up
IMF paper offers ‘fear-based theory’ of economy
Central banks risk distorting the economy if they don’t move interest rates to offset “fear cycle”
Central banks will be ‘tested’ by long-term inflation – BIS’s Borio
Persistent inflationary forces could bring central banks into conflict with government, official says
RBA’s Lowe admits inflation models need rethink
Governor acknowledges forecasting mistakes but rejects calls to resign
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation