Productivity
Podcast: AI accountability in central banks
Transparency and explainability thresholds rise with risk and impact
Israel’s Golan Benita on reserve management amidst the AI boom
The head of market operations at the Bank of Israel discusses a shift to active equities to address ‘Mag7’ risks, the rationale for extending duration, and his critical view of crypto and gold
UK will not hit 2% inflation target over long term – BoE’s Mann
MPC member says sluggish productivity growth is also acting as ‘speed limit’ for economy
Icelandic governor issues call to moderate wage demands
Central bank chief says country’s persistently high inflation can only be tackled through collective effort
Olli Rehn on demographics, geopolitics and ECB policy
The Bank of Finland governor speaks about immigration and productivity, private credit and stablecoin risks, the mood on the governing council and the impact of conflict in the Middle East
Current threats to central bank independence
Improved communications, advocacy for tech oversight and international co-operation will help to address challenges posed by populism, excessive debt and new forms of money, write Gavin Bingham, Paul Fisher and Andrew Large
Geopolitics becoming ‘key risk’ for central banks – panel
Experts at ECB conference say political upheaval now a greater concern than price growth
Single and dual mandates often result in same policy – Schnabel
AI productivity boom yet to show up in eurozone data, ECB board member adds
Book notes: The doom loop, by Eswar S Prasad
A persuasive analysis of a new world disorder that will bring an end to central bank independence
Thailand unexpectedly cuts rates on lower growth outlook
Central bank hopes easing of policy will support SMEs, households and overall economy
Monetary policy in Asia since the pandemic
Asean+3 nations must plan to tackle ‘disturbance’, ‘structural’ and ‘radical’ uncertainty using a disciplined policy mix to preserve price stability amid global shocks, writes Dong He
High tariff regime in the US is ‘here to stay’ – BoE’s Taylor
Impact on trade flows and pricing will take years to play out, MPC member says
Full ‘postmortem’ on QE yet to be written – Klaas Knot
Former DNB governor expects Fed to continue international monetary diplomacy under Warsh
MAS holds policy while warning of potential AI-related shocks
Singapore’s central bank increases inflation estimates and predicts resilient growth
Don’t count on central banks to buy public debt, says Lagarde
ECB president tells Davos panel that divergent global standards may puncture AI bubble
Tech-driven global growth vulnerable to shocks, IMF warns
Sharp market corrections could ensue if productivity gains from AI do not meet expectations
EMs gain less from GenAI adoption than AEs – BIS study
Service economies with strong digital and legal frameworks best placed to benefit from AI
€25K handouts would not affect labour market – ECB paper
Stimulus packages are effective in raising consumption, researchers argue
IMF sees room for further easing in Thailand
Country’s household debt challenges compounded by other shocks, mission head says
Poland cuts rates, while Albania and Sweden hold
Riksbank warns of US stock market bubble
Rethinking policy transmission in the age of AI
Managing machine expectations related to faster, more non-linear and potentially asymmetric price dynamics will require analytical innovation and potentially new forms of oversight, argues Elisa Vilorio de Painter