Data
‘Supercore inflation’ is a key indicator, Fed paper argues
Non-housing core service prices behaved very differently in 2019 and 2021, researchers say
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
ECB consults banks on data management and risk reporting
Most of eurozone's largest banks do not have adequate capabilities
Monetary Policy Benchmarks 2023 – executive summary
Key findings of the 2023 benchmark, including policy tools, governance structures and operating frameworks
Monetary Policy Benchmarks 2023 report – navigating uncertainty
Benchmark data highlights ongoing evolution in policy frameworks as central banks move beyond the pandemic – and into the high-inflation period
Guillermo Avellán on BCE independence, capacity-building and dollarisation
Central Bank of Ecuador general manager speaks about the need to bolster the central bank’s legal autonomy, dollarisation challenges, payments developments and monetising local gold production
Machine learning pushes frontier of forecasting
AI techniques are starting to transform central banks’ statistical modelling. They could soon revolutionise structural models as well
PBoC holds key rate amid lacklustre GDP growth
Chinese economy grew 6.3% in second quarter, missing expectations by a full percentage point
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Proportion of central banks observing blackout period rises
AE respondents remain much more likely to employ the practice
Central banks average four forecast updates a year
Final decision on projections jointly taken by policy-makers and staff in most jurisdictions
Monetary policy staff numbers average below 40
European institutions and advanced economy central banks tend to have highest number of staff
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Inflation targeters tend to pay monetary policy staff more
Salaries tend to rise with GDP per capita but less developed economies pay larger multiples
Confidentiality of policy votes remains common practice
Proportion of central banks revealing voting information with a lag creeps up
Monetary policy reports usually published four times annually
Institutions from Africa tend to release fewer publications
Treasury officials more likely to serve on advanced economy MPCs
Monetary policy committees or boards comprise 8.2 people on average globally
Use of asset purchase programmes for monetary policy wanes
Additional central banks end scheme, as more institutions forecast decrease
No significant risk of US recession – St Louis Fed research
Sahm Rule and leading economic data indicate low – but not zero – recession risk
Few central banks brief fiscal authorities on monetary decisions
But practice is more common in institutions from the Americas
Communications Benchmarks 2023 – presentation
Specialist Jimmy Choi discusses communication strategies, social media, staffing and more
Debt issuance powers remain key attribute of most central banks
Proportion of non-debt issuing institutions narrows year-on-year to 6%
US housing inflation will slow in early 2024, Dallas Fed paper says
Researcher uses vector error correction model to estimate housing market pressures
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai