Europe
Eurozone inflation affects fiscal policy, ECB paper finds
Authors say there is evidence of “turning point” for inflation’s impact on primary fiscal balances
ECB paper analyses indirect channels of interbank contagion
Eurozone’s interbank market vulnerable to sovereign debt and non-bank sector shocks, research finds
ECB invites entrants for wholesale ‘digital euro’ trial
CBDC work in 2024 will test Banque de France, Bank of Italy and Bundesbank DLT solutions
Climate change increases inflation risks – ECB paper
Both level and volatility of inflation could increase due to rising temperatures, researchers say
Europe’s half-baked benchmark switch leaves some dissatisfied
Users frustrated by narrow scope of euro transition, but replacing Euribor was never a euro group objective
FCA official confirms end of ‘temporary permissions regime’
European firms must have UK regulatory approval by December 30
ECB holds rates as it lowers inflation expectations
Central bank intends to stop reinvesting maturing assets under PEPP in second half of 2024
ECB’s Schnabel does not rule out rate cut before mid-2024
Executive board member deems more rate hikes “rather unlikely”
Administrative data tops list as alternative data source
Research and forecasting remain key areas of application for central bank economists
Central banks of Korea and Italy boost co-operation on payment systems
Bank of Korea and Bank of Italy to exchange knowledge on RTGS and CBDC
Economists’ rate of access to centralised data services still below par
Central banks in high-income jurisdictions still have more access
ECB selects possible topics for new banknotes
“European culture” and “rivers and birds” enter final selection phase
Most heads of research are responsible for sign-off on research
Peer-reviewed papers remain most-used metric for measuring research success
Lower eurozone inflation fuels rate cut speculation
Some analysts expect start of easing cycle earlier in 2024
Central banks average 11 working papers over the past year
Just over a quarter of central banks run research blogs
German inflation falls to 2.3% in November
Falling energy prices lower inflation in the eurozone’s main economy
Central banks prioritise inflation dynamics research
Middle income institutions tend to have much widest research interests
Time series model is top tool for forecasting and research
Use of machine learning models for research purposes surges year on year
Cyprus central bank defends supervision after sanctions-busting claims
Prime minister pledges report after media investigation says Russians used local firms to dodge sanctions
Economic growth and inflation are most-forecast variables
Private debt, commodity prices and market interest rates rank as laggards
ECB willing to hike rates further, say minutes
Governing council stresses it needs to be persistent and vigilant to bring inflation to 2% target
Most new economic staff hired as fresh graduates
Recruits from private sector, academia make up smaller portion of new hires
Proportion of central bank economists with PhD rises
Central banks split on funding economic staff with PhD aspirations
Eurozone banks show “early signs of stress”, ECB warns
High interest rate will test eurozone’s resilience while some non-banks are at risk, review says