Central Banking
ECB outlines changes to forecasting during Covid
High-frequency data, GDP-at-risk, changes to use of PMI and stringency index all useful, authors say
US may face ‘jobless recovery’ despite huge stimulus
Economists warn fiscal stimulus has been poorly targeted; Ben Bernanke defends Fed policy
Tourism acts as Covid-19 amplifier in the eurozone
Shock is increasing fragmentation risks in the region due to its uneven effect across countries
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields
People: San Francisco Fed appoints strategy and people officer
Dallas and San Francisco Feds appoint officials; new ECB comms chief takes up role; Bank of Greece adviser to head up payments network
Atlanta Fed creates new mortgage tool to track forbearance
Dashboard will provide policy-makers with data on which regions are using forbearance in response to Covid-19
Georgian central bank starts operating new resolution framework
NBG says new resolution system will greatly increase Georgia’s financial stability
Palestine Monetary Authority governor resigns early
Government quickly nominates senior PMA official to take place of Azzam Shawwa
Rwanda’s central bank may need to bolster support – IMF
Lack of fiscal space means central bank may be last resort, says fund report
Bank of Israel says rapid vaccination brightens outlook
Central bank leaves stimulus unchanged with rates at 0.1%
BIS paper explores impact of demographics on house prices
Study focuses on Korea’s “exceptionally rapid” demographic change
Australian Senate axes plans to ban cash usage above $10,000
Controversial bill threatened to jail those conducting large cash transactions
Communications in focus: Central Bank of Brazil
The head of communications at the Central Bank of Brazil speaks about the use of websites during a pandemic and how central bank communications will need to evolve
Central bank social media usage continues to evolve
User growth among central banks has started to level off, but those that use social media platforms are seeing growing subscriber bases and an increase in engagement
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
Rebuilding policy buffers is key challenge of coming decade – Borio
BIS economist says central banks are not out of options but the trade-offs are increasingly difficult
BoE’s Bailey explores future of balance sheet policy
Question of whether QE is “state contingent” could impact how it is deployed through the cycle
Bank of Japan launches policy review as deflation worsens
BoJ considers further monetary easing and extends special loan programmes
Paper tracks changing rhetoric of Bank of Italy governors
Governors have changed the focus of their concluding remarks over time, as well as the length of their speeches
Denmark’s central bank says household wealth is higher than pre-Covid
Citizens are wealthier despite Covid-19, but wealth distribution remains uneven
Guy Debelle on the future of the FX Global Code
Code’s creators considering updates to sections on last look and pre-hedging
FCA undergoes reshuffle of senior managers
Regulator establishes new consumers and competition directorate
NBER paper seeks lessons for home working in Industrial Revolution
Move to remote working could be undermined by organisational problems, authors warn
Central Bank of Iraq devalues currency by 23%
Oil-dependent economy has been hit hard by coronavirus shock