Monetary policy
BoE paper models impact of ‘active’ fiscal policy
Active fiscal policy complicates monetary policy but can generate higher welfare, author says
Central banks leverage multimedia communication channels
Around a third have added podcasts, mobile apps and blogs to their comms repertoire
US unemployment rate stable at 5.9%
Little sign of ‘substantial further progress’ FOMC wants to see before taper
NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
Riksbank maintains loose policy
Swedish central bank says it will fully use Skr700 billion portfolio of asset purchases
Haldane says inflation targeting faces its ‘most dangerous moment’
BoE chief economist says risks of inflation and fiscal dominance are both on the rise
Vast majority of central banks provide communications training
Social media, writing skills and public speaking emerged as key areas
Eurozone inflation expected to decline in June
Early estimates suggest inflation fell to 1.9%, from 2% in May
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
BIS annual report: ‘disaster averted’ but world ‘not out of the woods’
Report weighs up three scenarios for “pandexit”, none of them without drawbacks
BIS’s Luiz Pereira on tackling the climate crisis
Deputy general manager highlights the challenge posed by radical uncertainty, the benefits of carbon budgeting, and the case for acting now
Communications often involved at early stages of central bank policy
Most central banks say comms teams are involved in early planning stage of policy decisions
Hungarian central bank raises policy rates
MNB says data shows upside risks and pledges to continue bond purchase programmes
Peru’s likely president-elect will reappoint Velarde
As opponent disputes his narrow win, Castillo affirms role of long-serving governor
ECB’s Panetta: fiscal-monetary co-ordination no danger to independence
Executive board member thinks interaction can be fruitful in attaining inflation goal
Fintech communication is most challenging for central banks
Central banks view fintech as greatest challenge, but rate monetary policy communication highly
Rising spillover risks from macro-prudential policies
Tools used to restrict credit in specific sectors can increase the riskiness of credit in other areas, creating challenges in the use of household-specific and corporate credit-calming measures, write Lucyna Górnicka and Apoorv Bhargava
Mexican central bank raises rates for first time since 2018
Governing board votes three to two for hike, citing above-target inflation and upside risks
The role of individuals in guarding against inflation
External pressure may test governors’ resolve as inflation climbs, say former officials and academics
Bank of England holds interest rates and asset purchases
MPC wants evidence spare capacity is being reduced but Haldane votes for lower asset purchases
Czech central bank raises rates by majority vote
Divided board raises rates as inflation nears top of target band
A brick-by-brick guide to inflation
Cleveland Fed uses Lego videos to explain inflation
MAS’s Vincent Loy and Celine Sia on transforming data management
The assistant managing directors explain how uniting business and technology functions is opening up new possibilities for data collection, governance and analytics
Catherine Mann appointed to Bank of England MPC
Former Citibank and OECD chief economist to take Jan Vlieghe’s seat; Jonathan Haskel reappointed