Coronavirus
Atlanta Fed study finds no evidence of ‘great reassessment’
Increased job mobility during Covid explained by better pay, not higher worker autonomy, paper finds
Pre-emptive policy has built credibility, says Georgian governor
Enriched monetary policy toolkit assesses whether shocks are transitory in a volatile world
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
Goodhart and Pradhan on the end of monetary independence
The unanchored central banker authors speak about how ageing populations, soaring healthcare costs and rising fiscal deficits will force central bankers to compromise on inflation targets and bail out indebted governments
Democracy crucial to central banks’ independence, Wunsch says
National Bank of Belgium governor says invective is crowding out rational discourse
Book notes: The unanchored central banker, by Manoj Pradhan and Charles Goodhart
A book sparkling with provocative opinions that challenges readers to rethink central banking amid evolving macro trends
Pacific series: Climate is top issue for Fiji’s governor Ariff Ali
Head of central bank speaks about climate, inclusion, modernisation and vulnerability ahead of his likely retirement next year, following 30 years at institution
ADB offers $5bn to alleviate energy and fertiliser crisis
Institution says funds will be delivered on selective and demand-driven basis
Repos key to post‑Covid balance sheet reduction – RBNZ
Assistant governor says further repo growth will support monetary policy, liquidity, capital markets
Tonga holds rates amid ongoing monetary policy reform
Pacific island’s central bank says inflation is running hot due to external price shocks
External shocks tighten credit conditions – ECB bulletin
New index finds funding becomes scarce after unexpected changes in economic activity
LLMs can analyse news articles to spot stability risks – ECB study
Authors use AI to find trigger events in dataset of over 1 million stories
Juha Park on the BoK’s updated monetary policy framework
Bank of Korea’s head of monetary policy communication says pre-Shin updates align with new governor’s thinking
Everything you always wanted to know about money (but were afraid to ask)
Rupal Patel and Jack Leslie, authors of ‘Money: the inside story’, speak about how central banks can improve their comms – and credibility – by tackling popular misconceptions about how finance works
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
Banque de France’s Denis Beau on supervisory reform
The Banque de France’s deputy governor speaks about suppression of the systemic risk buffer, proposals for a TLAC floor, and simplifying bank regulation and resolution
RBA outlines monetary tools for stimulus when rates are low
Central bank says additions to policy toolkit make it better prepared for shocks
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
QE reduces bonds’ safe haven properties – BdF paper
Safety is becoming ‘increasingly fragmented’ across asset classes, researchers say
‘Dark corners’ authors on setting policy under intense uncertainty
Douglas Laxton and Shalva Mkhatrishvili say policy-making should work to avoid the worst outcomes
Powell makes renewed case for Fed independence
Former chair invokes presidents Kennedy and Adams in plea for institutional autonomy to be respected