Research
Tariffs worsen monetary policy trade-offs and inflation – study
Fed researchers find evidence of persistence in cost pressures stemming from levies
Closer eurozone integration vital in today’s world – ECB paper
Competition from China and US tariffs cited among reasons for closer co-operation between members
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
RBA research finds monetary easing can reduce inequality
Reserve Bank of Australia study finds impact of economic shocks dampened after accounting for household income
Home loans with loose standards go sour when rates rise – ECB
Borrowers who “may not initially appear risky” could be swept away in a downturn, bank warns
Recollections may differ on Weimar hyperinflation – ECB blog
Author says first-hand accounts suggest episode was less traumatic than politicians would later claim
FX hedging behind April’s dollar slide – BIS bulletin
Treasury sell-offs not correlated with greenback’s depreciation, authors argue
FSB warns of liquidity stress in CRE markets
Opaque valuation and high leverage among vulnerabilities in $12 trillion property sector
Overvalued US stocks weaken FCIs’ signal effects – ECB research
Policy-makers should not be blinded by inflated equity prices, authors say
Rate changes have biggest impact on goods and housing – RBNZ study
Research analyses impact of rate hikes following pandemic-related inflation
US bank profitability measure continues rising – study
Net interest margin climbed throughout 2024 and Q1 2025, St Louis Fed research finds
Capping interchange fees would benefit cash and card users – Fed study
Authors say limit on payment card charges would be advantageous for both customers and merchants
Inflationary shocks hurt US labour market and output – Fed study
As real wages decline, workers search for new, less economically productive jobs, research finds
Moderate US bank stress could lead to global contagion – report
IMF study cites SVB’s collapse, which reverberated across world by pushing up US sovereign credit risk
Credit lines help firms absorb tariff shocks – BIS bulletin
Banks can stabilise economy during crises by offering on-demand liquidity, researchers say
Chance of US recession lower, but still high – NY Fed study
Authors say model puts chances at 75%, compared with 83% at beginning of 2024
Jobs, not prices, are main reason for dissent on FOMC – study
Votes show unemployment in presidents’ districts is of greater concern to them than inflation
Trump’s trade policy a ‘wildcard’, says Bostic
Atlanta Fed president says tariffs picture is “unsettled” and calls for patience on monetary policy
BoK paper links real interest rate to demographic shift
Higher life expectancy and lower birth rate exert downward pressure on rates, researchers find
SNB paper shows 5–6% boost in inflation forecasting
Hedged random forest method “consistently outperforms” unhedged approach
High profits to cushion against bank losses – Danish central bank
Lenders in good position to deal with tariff turmoil, says National Bank of Denmark