Growth
IMF warns of ‘exceptional uncertainty’ in vaccine-driven recovery
Fund upgrades global forecasts amid early success of vaccine rollout
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
Eurozone bank credit tightens despite ECB stimulus
Banks expect credit to further tighten during the first quarter of 2021
New IMFC chair warns against premature stimulus withdrawal
Magadalena Andersson lays out priorities for the IMF over the coming years
Design flaws in Covid relief package cost millions of jobs – Fed paper
Delay to paycheck protection programme had “very substantial” impact, economists argue
Economics Benchmarks 2020 report – executive summary
Shedding light on economics governance, salaries, forecasting, research, publications and more
BIS research tracks changing consumption patterns
Pandemic has led to “catching-up” process in e-commerce, bulletin article says
Inflation could ‘approach’ FOMC target quicker than expected – George
Kansas City Fed president says decline in inflation has been idiosyncratic
Lower Mexican inflation raises chances of rate cuts
Third official nominated by president due to join rate-setting body at next meeting
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
US may face ‘jobless recovery’ despite huge stimulus
Economists warn fiscal stimulus has been poorly targeted; Ben Bernanke defends Fed policy
Rwanda’s central bank may need to bolster support – IMF
Lack of fiscal space means central bank may be last resort, says fund report
Bank of Israel says rapid vaccination brightens outlook
Central bank leaves stimulus unchanged with rates at 0.1%
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
NBER paper seeks lessons for home working in Industrial Revolution
Move to remote working could be undermined by organisational problems, authors warn
Central Bank of Iraq devalues currency by 23%
Oil-dependent economy has been hit hard by coronavirus shock
Vaccine would speed up recovery, Bank of Uganda reports
Higher levels of NPLs and high lending rates are hampering growth, report says, but vaccine could result in swift recovery
What does 2021 hold for the ECB?
Former officials reflect on AIT, how the strategy review may affect normalisation, QE options and the need for new tools
Covid-19 likely harms productivity – BoE paper
Private sector could lose 5% of its productivity in Q4 this year, authors estimate
BoE’s MPC says UK outlook is ‘unusually uncertain’
Outcome of Brexit talks and evolution of pandemic leave future cloudy, BoE says
Central banks use alt data mainly for research
Almost all respondents make use of alternative data in at least one application
Fed faces longer-term challenges under new policy strategy
Steve Kamin warns central bank may not have paid enough attention to why r* has fallen
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks