GDP
IMF climate dashboard reveals pattern of vulnerabilities
Data ranges from frequency of natural disasters to carbon intensity of lending
High income economy central banks’ technology costs vary widely
Some central banks in advanced economies have kept costs as low as those in poorer nations
Large economy central banks more likely to employ CTO
Slight majority of central banks employ CTO, but differences are clearer when sorted by GDP
Governor of the year: Alejandro Díaz de León
Díaz de León has upheld the authority, integrity and independence of the Bank of Mexico against significant external and internal pressures
Corporate Services Benchmarks 2021 report – trends in financial reporting and administration
Insights on staffing and salaries, technological automation, data security, rule compliance, gender equality and green office spaces in accounting, audit, HR and administration
Powell: US economy still ‘a long way’ from meeting Fed goals
Fed chair predicts continued need for low interest rates and QE, as recovery remains “uneven and far from complete”
Paper finds little evidence of long-term scarring
Richmond Fed research finds short-term demand shocks rarely create hysteresis
Fed’s 2021 stress test includes major asset price shock
CCAR will evaluate 19 largest banks; scenario includes 55% fall in equity prices
BoE tells firms to prepare for negative rates
Preparation is not a signal that negative policy rates will be adopted, Bailey stresses
IMF grants Tonga $10 million emergency loan
Fund’s Article IV report expresses concern about banking sector; predicts GDP contraction
National statistical agencies must measure informal economy – IMF
Fund outlines new framework for informal economy consistent with GDP methodology
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
ECB outlines changes to forecasting during Covid
High-frequency data, GDP-at-risk, changes to use of PMI and stringency index all useful, authors say
Size matters for central bank research publishing
Staff numbers have strongest association with central banks’ research output
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
Few central banks collaborate with private-sector researchers
Collaborations are common with academia, especially in advanced economies
Ghana recovering faster than expected, says governor Addison
Growth has bounced back to double figures and inflation is expected to hit target by mid-2021
Fed holds rates as US recovery falters
Powell calls for fiscal stimulus and says further Covid-19 wave is hitting poor hardest
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
Fed eases terms on emergency facility as uncertainty rises
High-frequency indicators suggest US recovery is slowing amid resurgence of virus cases
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
An end to the loveless marriage with the US dollar?
Covid-19 represents an unexpected shock that could cause further US dollar decoupling, which could show up in next week’s Cofer data release, writes Gary Smith
Influential Fed economist Thomas Laubach dies
Current and former Fed officials pay tribute to the US central bank’s German influencer, who died on September 2
Covid-19 policy-making and the need for high-speed data
High-frequency data holds the promise of speed and adaptability, but the rush to find alternative economic indicators has the potential to create problems