Economics
Fed finds larger-than-expected bank exposure to private credit
Researchers add sector to national accounts for first time
Little evidence of second-round inflation in UK – Bailey
BoE governor says economy more resilient than expected, amid signs of AI investment
Tighter financing and high oil prices dominate Fed Beige Book
But strong variations exist between districts
Venezuela seeks shift to inflation targeting in medium term
Minister says dollarisation not ‘right answer’ and debt sustainability analysis to be published soon
Lagarde cools speculation of ECB rescue amid French debt woes
Central bank chief urges her home country to get its fiscal house in order
Fiscal consolidation still possible in France – Moulin
BdF governor says Europe facing twin shock from surge in energy costs and bond yields
Young people less likely to be hired in age of AI – BdF blog
Technology’s impact less pronounced among older workers, as French firms opt to retain senior staff
Softer expectations needed for AI-led growth – BIS paper
Large-scale automation could weaken profit incentive that drove technological progress, economist says
Resilience is watchword in IMF’s World Economic Report
Tenreyro says sources of oil, trade and tech inputs should be diversified if economies are to withstand shocks
Credit shocks hit GDP harder in more equal countries – CNB study
Effects more severe in economies with lower income gaps, but redistribution can cushion blow
Oil futures gloomier than reality during conflicts – Feds note
Commodity has become hedge against macroeconomic risk, research finds
Working group minutes: Central banks adopt scenario analysis
Approach is guiding institutions’ responses to Middle East war and El Niño
IMF flags gaps in Somalia’s financial reform efforts
Fund notes progress, but says central bank should go further to safeguard stability
Mexico’s monetary policy should remain tight, IMF says
Banxico should strengthen comms and limit government bond purchases to short end of curve, fund adds
Rising bond yields slow policy transmission – Lane
‘Second wave’ of energy inflation yet to ripple through to other prices, says ECB chief economist
Investors price in sanctions risk for US equities – study
NY Fed authors say geoeconomic risk driven by firms’ exposure to sanctioned countries’ supply chains
Rehn says European safe asset ‘deserves further examination’
ESRB vice-chair says jointly issued bond could help fund defence and energy, but design is the hurdle
IMF approves El Salvador funds, despite bitcoin purchases
Institution granted waivers after government missed performance targets, including on crypto
Dollar’s share of foreign reserves fell slightly in Q2 – IMF
Euro claims rose, leading to fall in proportion of US assets according to latest Cofer figures
Stablecoins issuers’ debt wish not enough to meet US needs – study
SF Fed authors say demand for Treasuries will be much smaller than government’s requirements
BdF chief urges French politicians to break budget deadlock
Central bank governor warns another stalemate could jeopardise France’s economic future