Central Banks
US may be over natural unemployment rate – Atlanta Fed president
Raphael Bostic estimates natural employment “is in the 4.2–4.3% range right now”
ECB should not be lead agency for EU financial stability – Mersch
Democratically elected institutions should play main role, ECB board member says
Automation of financial services poses problem for labour market
Central bankers fear the labour market may not recover as quickly as during previous technological revolutions
Risk-adjusted model anticipates rate changes better – paper
Monetary policy forecasts perform better when adjusted to risk, authors say
Swiss banks are more resilient now than before crisis – Zurbrügg
‘Too-big-to-fail’ especially relevant for Swiss economy due to strong role of few major banks
Protectionism won’t divert Bank of Canada’s inflation focus – Wilkins
Rate-setters think gradual normalisation is still appropriate, higher rates necessary to achieve target
Eurozone’s largest banks are penalised for intra-EU transactions – Praet
International regulations should recognised progress made under banking union, says senior ECB official
Financial literacy differs greatly between countries – OeNB paper
Some differences are due to survey methods but others may reflect institutional factors, find researchers
Central banks could do more to tackle climate change – paper
Central banks may be mispricing assets due to climate change risk, paper argues
US and UK central banks take similar policy stances, researchers find
Richmond Fed examines responses to major monetary policy shocks
Riksbank says it will increase rates in December or February
Two board members call for earlier rate hike
RBA governor welcomes housing market slowdown
Lowe says slower credit growth is “positive”, as wider economy heats up
Carney warns no-deal Brexit would squeeze real income
Governor informs Treasury Committee of household “real income squeeze” in the event of a no-deal Brexit; Mervyn King calls government’s Brexit preparations “incompetent”
BoE study finds ‘relatable’ communications boost trust and understanding
Communications that are relatable to people’s lives work best, behavioural experiment finds
IMF points to greater price pressures in Tunisia
The fund and national authorities agree on policies to complete fourth review of support programme
Bank of Spain paper looks at G20 regulatory agenda
“Globally significant” banks’ perceived risk likely to rise, researchers say
St Louis Fed’s Bullard thinks Fed should hold
Flatter yield curve and moderate inflation in US suggest monetary policy shouldn’t be tighter, president says
Fed paper presents method to better estimate systemic risk
Authors find their approach outperforms several commonly used systemic risk indicators
Supervisory lessons: management traits of problem banks
Former Bank of Spain head of supervision Aristóbulo de Juan highlights the lessons he has learnt about the management of problem banks and how to stop dangerous activities before they take hold – in the first of a four-part series on supervision