Economics
China shifts to ‘moderately loose’ monetary policy stance
Officials also vow to pursue “more proactive” fiscal stance next year
US rate hikes ‘lock in’ homeowners – Fed study
Tighter monetary policy raises house prices and reduces churn, research finds
San Francisco Fed paper details declining immigration into US
Statistics show decline after White House’s June proclamation barring entry across southern border
Rate hikes affect manufacturing economies more – Fed study
Authors find similar effects across eurozone and in US at county level
Canada’s GDP revisions ‘raise questions over monetary policy’
However, experts disagree on whether central bank’s modelling was flawed and if it cut rates too quickly
Nature loss is key metric for supervisors – ECB board member
Elderson says central banks need to develop better ways to measure its impact on financial stability
The past and future of BIS economics
The monetary and economic department has become an influential force in central bank economics. Claudio Borio looks back over 37 years at the institution and Hyun Song Shin looks to the future
Bailey: UK must stay open for business
BoE governor calls for bridges to be built with EU countries and others
Minneapolis Fed chief shares concerns about tit-for-tat tariffs
Kashkari points to heightened risk of inflation but insists US economy is “strong”
Book notes: The road to freedom: economics and the good society, Joseph E Stiglitz
A stimulating amalgamation of previous ideas presenting the kind of economic system most conducive to decent society
Bofit study projects continued slowdown in China
Group’s latest forecast says economy needs to be rebalanced in favour of consumption
Emerging markets resilient amid global shift, governors tell panel
Smaller economies better placed to intervene during crises, say central bank heads
Global component of inflation surged in pandemic – research
Dallas Fed authors say international factors exert greater influence than they did pre-Covid
IDB announces organisational restructure
Bank creates new VP role and divisions, and elevates chief economist
PBoC cuts loan prime rates
Reductions in benchmark lending rates follow recent stimulus measures
Acemoglu, Johnson and Robinson win Nobel prize in economics
Trio given award for work on role of colonial institutions in shaping long-term prosperity
Malaysia’s Zeti on the key skills needed to be a successful central banker
The Bank Negara veteran speaks about leadership skills, lessons from the AFC and 1MDB crises, her scepticism of inflation targeting, and how the Asia School of Business' masters synthesises theory with practical realities
Eurozone policy transmission ‘more pronounced’ in 2022–23 – study
Banks’ increased risk perceptions underpinned swifter pass-through, says Bank of Italy research
Reserve Bank of New Zealand cuts policy rate by 50bp
Inflation is converging towards 2%, policy-makers say
Lessons learned on macro-pru policies
Macro-prudential tools are proving their worth although use cases vary by country; integration into over-arching policy frameworks remains a challenge
Supply shocks may become more frequent – BIS’s Maechler
Central banks should re-examine their policy approaches, says deputy general manager