Growth
Sarb projects ‘sharp but incomplete initial recovery’
South African inflation forecast to rise on higher electricity and water prices
Book notes: Central banks as fiscal players, by Willem Buiter
Buiter puts a real economic problem into a convincing theoretical frame, and translates it into applicable policy advice
Rising rates could endanger emerging market recovery, IMF warns
“Divergent recovery” likely to create financial stability challenges, report says
MAS contributes reserves to IMF pandemic funds
Singapore to provide $20.6 million to IMF initiatives for low-income countries hit by Covid-19
Newspaper text can improve growth forecasts – DNB research
Sentiment index can cut errors in short-term forecasts, study finds
BoE’s Tenreyro highlights divergence in UK and US policies
US focused on protecting incomes, while UK protected jobs, MPC member notes
Barkin concerned over pandemic ‘scarring’
Richmond Fed chief says disruptions imperil access to jobs and economic growth
ECB weekly asset purchases raised to €21.1 billion
On March 11, central bank promised to conduct purchases “at a significantly higher pace”
China appoints two new PBoC policy members
PBoC gets two new monetary policy members as IMF warns of rising stability risks
BoE holds interest rates as MPC members differ over risks
MPC points to signs of stronger recovery but also uncertainties around household spending
Fed keeps policy rate steady
Jerome Powell says FOMC will hold policy until it sees “actual progress, not forecast progress”
Lifetime achievement: Charles Goodhart
LSE and BoE veteran has influenced central banking policy practices and frameworks all around the world
Governor of the year: Alejandro Díaz de León
Díaz de León has upheld the integrity and independence of Banxico against significant pressures
Yield curve control not ECB’s ‘easiest way forward’ – Centeno
ECB board member Fabio Panetta calls for decisive action to reduce higher bond yields
RBI’s Das: pandemic improved India’s external balance
Boom in software business helped shore up current account and boost RBI reserves, governor says
Bank of Israel maintains stimulus despite rapid vaccination
GDP shrank by 2.4% in 2020, less than previously forecast
IMF chief economist has ‘no concerns’ over inflation in US
Biden plan likely to cause 2.25% inflation, within Fed’s framework, Gopinath says
Bank Indonesia resumes monetary easing
Central bank commits to further government bond purchases on the primary market
Kenya strikes deal on $2.4 billion IMF package
“Multi-year effort” required to stabilise public finances and boost growth
Bank of Zambia caught between surging inflation and debt crisis
Central bank hikes policy rate as kwacha falls and fiscal spending overshoots targets
The Covid crisis, central banks and the future
Crisis responses were needed, but have exacerbated significant underlying challenges facing central banks
Mexican central bank board cuts policy rate
Rate-setting board unanimously votes for looser policies despite above-target inflation
BIS paper seeks to overcome flawed Chinese growth statistics
Authors use regional data to circumvent “flat” GDP time series
Latin American economies threatened by pandemic resurgence – IMF
Western hemisphere chief warns recovery is uneven and under threat