Forecasting
Warsh declines to outline Fed’s reaction function
Chair tells Jackson Hole that ‘humble, never naïve’ approach will work and assesses US economy
Dedicated data units widely used in economics departments
Teams make use of varied microdata in their work
AI impact and usage growing in central bank economics departments
Regional variation exists, but adoption is increasing across the board
BoE’s MPC statements not sufficiently ‘collective’, says Bean
Former deputy governor laments ‘excessive and potentially confusing emphasis on individual views’
Tajikistan keeps inflation on target after lowering band
Central bank reports 4.1% price growth in H1, 50bp higher than in first half of last year
BoE’s scenarios are best way forward, say ex-MPC members
Former UK policy-makers say forecasting approach is suited to today’s highly uncertain times
China allows its investors greater access to offshore bonds
PBoC ups quota as HKMA expands yuan funding and city begins trial run for gold clearing
Vanuatu holds rates and forecasts continued economic recovery
Pacific island nation’s central bank says reconstruction efforts, tourism, to drive economy
Mervyn King on his career and big ‘mistakes’
The former BoE governor speaks with Christopher Jeffery about the value of transparency, lessons from the GFC, the need to track broad money and tie short-term funding to haircut collateral, and danger presented by non-banks
Forecasters look to complexity for better results
Central banks are developing models with production networks, non-linearities and heterogeneity
Switzerland and Norway hold, Czech Republic and Moldova hike
SNB says inflation uptick is temporary, while CNB and Norges Bank highlight wage pressures
Philippines and Indonesia tighten by 25bp
BSP says inflation ‘strong’ as BI’s focus remains on rupiah
Zoltán Kurali on Hungary’s reserves strategy and euro adoption
Deputy governor speaks about portfolio positioning amidst geopolitical volatility, AI, CBDC and the future of the forint
Working group minutes: from AI adoption to integration
Central banks are trialling diverse use cases, but many have yet to fully embed the tech in their work
Domestic growth unlikely even if Germany wins World Cup – Nagel
Bundesbank president says momentum will pick up by 2028 and calls for further deregulation
‘Dark corners’ authors on setting policy under intense uncertainty
Douglas Laxton and Shalva Mkhatrishvili say policy-making should work to avoid the worst outcomes
Behind the scenes of the Bundesbank’s capacity-building programme
A multi-year effort has helped shore up expertise at West Balkan central banks. Will African and former-CIS institutions be equally responsive to Eurosystem technical assistance?
Podcast: AI accountability in central banks
Transparency and explainability thresholds rise with risk and impact
Lane and Waller: research mix is extremely valuable
Central banks’ short- and long-term studies both benefit policy-making, Fed and ECB officials say
Kristin Forbes on ‘wargaming’ for the next crisis
The MIT professor and former BoE MPC member speaks about QE, scenario analysis and the art of conducting monetary policy in the ‘fog of war’
European central banks opt to hold
Albania, Czech Republic, Poland, Serbia and Sweden keep rates constant