Labour market
Iceland raises rates 125bp to head off ‘wage-price spiral’
MPC orders largest increase in two-year tightening cycle as inflation remains near 10%
Bernanke and Blanchard reassess causes of inflation surge
Economists who predicted surge misunderstood underlying causes, study finds
‘Robust’ wage growth consistent with disinflation – BIS paper
But firms need to avoid increasing their profit margins, authors find
Financial security of US households ‘fell sharply’ in 2022
Inflation comes first in list of financial worries, Fed survey finds
ECB paper suggests faster methods for estimating eurozone employment
Nowcasting tools outperform models currently used by ECB, researchers say
RBA raises rates 25bp as spending falters
Outlook for household consumption uncertain as effects of tightening start to appear
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
Monetary policy faces tougher trade-offs – IMF panel
Financial instability risks may be abated with changes to inflation targets and tools
Youth disconnect could create ‘less-skilled workforce’ – Dallas Fed
Declining labour force participation is detaching younger people from work, authors find
Boston Fed expands programme to get people back into work
FedNow created high demand for IT roles, which sparked programme’s inception
Kansas City Fed warns slow wage growth could spur debt problems
Subprime auto debt back above pre-pandemic levels and consumer debt at highest level ever
Bank of Israel warns political turmoil could hit GDP
Central bank slows cycle with 25bp hike, raising key rate to 4.5%
Norway and Iceland raise rates as inflation stays high
Iceland’s governor warns of wage-price spiral and says economy is overheating
Sarb deputy warns on growth prospects
Cassim says economy is “remarkable for the wrong reasons”
Lane sees tentative signs of easing in underlying inflation
ECB officials stress need to keep tightening monetary policy in the months ahead
Rates round-up: Australia signals more tightening to come
Guatemala and West African states increase rates, while Jamaica raises reserve requirement
What is happening to US wages?
Economists disagree over causes of real wage stagnation
How US demographics complicate the Fed’s job
Ageing population and pandemic legacy are confounding economists’ predictions
Israel continues tightening as inflation persists
Foreign minister attacks hike, forcing PM and finance minister to defend autonomy
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
Thai governor speaks about higher inflation, sustainable finance challenges, CBDC experiments and payments governance
Colombia’s Villar says tight policy necessary for future growth
Governor says inflation more stubborn than in neighbours, but will fall soon
Rates round-up: Mexico adds 50bp
Mexico delivers surprise; Peru pauses tightening cycle; mixed decisions in Europe
Bank of Canada officials explain monetary policy transition
Central bank publishes first record of monetary policy meeting discussions
Dallas Fed research casts doubt on ‘soft landing’
US Fed chair Jerome Powell sees US worker shortages as “more structural than cyclical”