News
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
‘Strict inflation targeting is past its expiry date’ – Klaas Knot
DNB president stresses the limits of central banks’ ability to micromanage inflation
Chinese state-run bank launches, then disables, digital yuan wallet
PBoC’s digital yuan wallet was briefly available via China Construction Bank’s mobile app
Raising inflation expectations may depress growth – Jackson Hole paper
More nuanced communication would help public understand state of the economy, say researchers
Record-low inflation may require ECB to boost PEPP purchases
HICP index expected to decline year on year by 0.2% in August; core inflation at record-low 0.4%
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
Don’t wait too long to normalise balance sheets – Bailey
Central banks need to unwind balance sheets when tightening policy, BoE governor warns
Central bank comms need “second sea change” – Canadian governor
Pandemic has shown importance of transparency and communications, Tiff Macklem says
ECB ready to adjust its policy instruments – Philip Lane
MAS chairman warns that post-pandemic labour markets will need new public policies
Covid-19 could depress growth for decades – Jackson Hole paper
“Pyschological scarring” could severely stunt future investment, researchers argue
Regulators must deal with AI risks – HKMA report
AI systems must keep “humans in the loop”, expert tells Central Banking
Fed adopts average inflation target
Powell says FOMC will also allow employment to run above estimated maximum level
Argentina requests new IMF programme
Government and central bank say economic stabilisation is not possible without recovery
Mexican governor and president clash over loan allegations
Díaz de Leon says controversial loan decision was made before he headed development bank
Carney to lead asset manager’s climate change strategy
Former BoE governor joins Canadian firm Brookfield and will continue in UN climate role
Liberian court acquits all defendants in central bank trial
Judge strongly criticises decision to try former governor who president accused of corruption
People: IMF appoints strategy head
Pazarbasioglu moves back to IMF; Lithuanian president appoints central bank board member
Thai governor calls for bigger fiscal boost
“More needs to be done”, Santiprabhob says, as Thai economy faces major contraction
Demand driving fall in US inflation – San Francisco paper
Economic sectors sensitive to Covid-19 saw big drop in demand, researcher finds
IMF criticises sacking of Zambian governor
Statement says governments should safeguard independence but language is notably restrained
Norwegian SWF head sells holdings in bid to end dispute
Nicolai Tangen and central bank try to halt major controversy over possible conflict of interests
DLT could improve US payments – Fed team
Fed’s “FooWire Project” built simulated payments network using DLT platform
Bank of Canada seeks public views on inflation targeting
Canadian central bank aims to increase public engagement with monetary policy review