Central Banks
Yellen backs proposal for SDR issuance
G20 calls on IMF to develop proposal for “general allocation of SDRs”
IMF urges São Tomé and Príncipe central bank to support recovery
Lack of tourism and drop in remittances has caused recession, fund says
Richmond Fed’s Barkin calls for more vocational training
Tom Barkin says US infrastructure workforce depleted; advocates more immigration
Bank of Italy names Signorini to second most senior role
Long-time official is promoted to general manager after Daniele Franco becomes finance minister
Kyrgyzstan central bank hikes rates as inflation rises
Fifty-basis point hike brings rate to 5.5% amid rising inflation and following political upheaval
Eurozone needs fiscal stimulus – ECB’s Schnabel
ECB board member says raising eurozone inflation needs fiscal evolution and structural reform
BoE’s Haldane warns against ‘complacency’ on inflation
Chief economist says uncertainty is high but risks are “skewed to the upside”
Bank of Spain paper analyses regulations’ complexity
Researchers present new method for assessing regulations’ structural and linguistic complexity
RBNZ to support government housing objectives
New Zealand finance minister changes central bank’s monetary and financial policy remits
Fed’s ‘operational error’ disrupts key payment services
Fedwire, ACH and other transfer systems suspended for several hours
RBI’s Das: pandemic improved India’s external balance
Boom in software business helped shore up current account and boost RBI reserves, governor says
Will Treasury yields keep on rising?
Falling price of US bonds may force reserve managers to change duration to preserve capital
Book notes: Capital and ideology, by Thomas Piketty
A political pamphlet like Milton’s ‘Areopagitica’, but longer
Bank of Italy paper uses Twitter to track inflation expectations
New method’s data gives a “good real-time proxy” for consumers’ expectations – researchers
BIS paper contrasts firm financing in US and Asia
Authors argue market segmentation drives different patterns of bond and loan financing
How valuable is a PhD economist?
Heads of research from Canada, Israel and North Macedonia weigh the benefits of advanced economics education – and the challenge of retaining top staff
Powell: US economy still ‘a long way’ from meeting Fed goals
Fed chair predicts continued need for low interest rates and QE, as recovery remains “uneven and far from complete”
Sudanese central bank changes currency regime
Central bank cuts official exchange rate sharply after years of major over-valuation
New Zealand’s banking system operationally ready for negative rates
Central bank will lower rates below zero lower bound if required, MPC says
BoE unveils plan to ‘transform’ data collection
Decade-long effort to overhaul data standards and methods of reporting
Monetary innovation required to respond to next crisis – Riksbank’s Breman
Deputy governor thinks fiscal and monetary policy co-ordination will be increasingly important
Covid-19 highlighted machine learning model limits – BoE research
Economic downturn could not have been forecast on the basis of data alone, BoE says