Labour market
Fed leaders split on whether further rate rise is needed
Leaders agree a soft landing is possible but not certain
Monetary policy tops US CFOs’ concerns
Survey finds high rates curtailing spending in 40% of firms
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
BoJ leaders divided on wage growth and timing of tightening
July minutes show disagreement over when firms will raise wages
BoJ keeps negative rates unchanged
Ueda says more time is needed to assess whether rising wages are supporting inflation
Eurozone soft landing depends on Phillips curve – Schnabel
Executive board member says evidence is hard to read, calling for “robust” policy-making
Should the ECB worry about divergent inflation?
Economists say widening readings across eurozone show lingering effect of energy price shock
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Taiwan’s central bank calls for wage rises
Report calls for more unionisation after real wages fell in first quarter
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
ECB ‘cannot declare victory yet’ over inflation – Lagarde
President stresses rates will need to be higher for longer to defeat persistent inflation
Central banks face tough fight for ‘last mile’ of disinflation – BIS
Credit losses could rival global financial crisis in higher-for-longer scenario, institution warns
Schnabel stresses inflation risks and need for tighter policy
ECB needs to err on the side of doing too much rather than too little, says board member
Fed holds policy rate steady
Powell says conditions for lower inflation are coming into place, and July will be a “live meeting”
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