Fiscal policy
IMF staff suggest review of Mexico’s inflation target
Mexican government needs to abandon restrictive fiscal policy, many IMF directors say
ECB paper looks at interest rate-growth differential
Several factors are likely to push differential up for some eurozone countries, say researchers
Book notes: Austerity, by Alberto Alesina, Carlo Favero and Francesco Giavazzi
When it works and when it doesn’t; every chapter is thorough, informative and persuasive
Tunisian central bank forces state to cut spending plans
Prime minister abandons plan to widen deficit to 14% of GDP after governor refuses to finance it
Eurozone credit tightened in Q3
Worsening economic outlook boosts borrowers’ credit risk, says the ECB
Business failures will impact bank balance sheets – RBA’s Bullock
Central bank forecasts volume of business failures to rise with the removal of support
Lagarde and Weidmann clash over EU recovery fund
ECB president wants it to become a permanent fiscal tool, Bundesbank president thinks it should remain a one-off
SF Fed’s Daly calls for major action on US inequality
Fed can use new policy framework to cut inequality but Federal government must do more, says Daly
Spanish governor in favour of extending support to non-financial firms
Hernández de Cos favours grants and equity injections over debt issuance
Book notes: Money, by Geoffrey Ingham
The incompatible theories of money: Ingham reveals the fundamental clash of ideas that shape the environment in which all central banks operate
IMF staff praise new Argentina stabilisation plans
Buenos Aires requested a new support programme in August
Lagarde calls on governments to prolong fiscal support
ECB president thinks regulatory, investment and education measures are needed to boost post-pandemic recovery
Carstens warns QE strengthens ‘fiscal-monetary nexus’
BIS chief warns central banks over using up “credibility capital” by their Covid-9 responses
Unemployment is a national priority, says RBA’s Lowe
Central bank’s latest data shows unemployment at 7.5%
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
Lower public spending holding back Middle East and Central Asia
Efficient and targeted investments require comprehensive data, says IMF paper
Bank of Mexico cuts rates again despite above-target inflation
President refuses to increase fiscal support package, citing danger of sovereign debt crisis
IMF staffers warn of looming sovereign debt crises
Governments and markets should agree to extend bond maturities, IMF says
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
Estonian governor criticises government’s fiscal stance
Spending was too high before coronavirus, and is making all citizens poorer, argues Madis Müller
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
ECB should scale back monetary stimulus after crisis – Weidmann
Knot says central bank should adopt symmetry in the implementation of PEPP purchases
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says Bank of England deputy
Book notes: Quest for restoring financial stability in India, by Viral Acharya
A definitive contribution to the political economy of central banking in emerging economies, but Acharya does not acknowledge the challenges moving forward