Fiscal policy
Shared EU debt not ‘essential’ for competitiveness boost – Draghi
Former ECB chief also says his proposal for €750bn of extra annual investment is “conservative”
BoE and bond vigilantes ‘not responsible for 2022 gilts crisis’
Ex-bank official rejects former PM’s claims that LDIs were primary cause of yield spike
Greedflation, if it ever existed, is correcting itself
Steve Kamin constructs a “wage gap” to assess inflationary pressures in the US
‘Reserve asset competition’ explains global fiscal cycle – paper
Local fiscal shocks can trigger debt issuance abroad, authors find
PBoC adviser calls for more expansionary economic policies
Monetary policy committee member advocates stronger measures to alter market expectations
French energy ‘tariff shield’ cut inflation by 2.6% in 2022 – report
Authors say measures helped to boost household purchasing power and corporate margins
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
Over 25% of central banks pre-brief government on policy decisions
Briefing patterns differ across institutions, as two central banks start practice
How Argentina’s financial tango could become a dance of death
Central bank and government’s unholy alliance is storing up further trouble for economy
Are low-level inflation targets still fit for purpose?
Geostrategic shifts make the case for a narrow price target less compelling
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
ECB paper recommends central fiscal instrument
Governments’ ability to delay fiscal consolidation should be limited, researchers argue
Can US policy choices explain economic divergence?
NIESR’s Ahmet Kaya finds US fiscal stimulus may have masked standard economic relationships, but economic gravity may soon reassert itself
Profit inflation and monetary policy: weighing the evidence
Biagio Bossone says profit inflation needs monetary ‘fuel’ to rise – but fiscal policy is the best fix, should governments have the ‘guts’
China to start selling ultra-long term sovereign bonds
Authorities will start selling 30-year bonds as first stage of major fiscal stimulus
BIS’s Zhang Tao on why Asian central banks favour a broader policy mix
The BIS’s Asia chief speaks with Christopher Jeffery and Jimmy Choi about supporting liquidity, financial stability and innovation in the Asia-Pacific region
French president calls for expanded ECB mandate
“We cannot have a monetary policy solely focused on inflation,” Macron says
Bank of Israel governor warns government over debt
Yaron calls for new committee to determine military budget
Long-term inflationary pressure set to rise, research finds
Changed environment makes central banks’ task harder, Kenneth Rogoff and other researchers say
Carstens calls for ‘greater realism’ on what policy can deliver
Monetary policy should avoid “excessive fine-tuning”, BIS chief says
RBI challenges IMF’s call for larger fiscal consolidation
Study argues bigger budget cuts not necessary if government focuses on development spending