Productivity
RBA tightens policy to 18-year high
Governor says hike targets domestically driven inflation rather than direct effects of oil price rises
Warsh: I’ve focused too much on monetary policy
Fed chair vows to pay more attention to supervision, payments systems and consumer affairs
Monetary policy must be more agile during AI transition – study
Bank of Italy paper says inflationary developments offer more reliable guide than long-term r*
Rehn says European safe asset ‘deserves further examination’
ESRB vice-chair says jointly issued bond could help fund defence and energy, but design is the hurdle
RBA says stability risks mainly come from abroad
Bank’s finstab report says financial system resilient but points to AI and geopolitical concerns
Fed should avoid communicating without a framework – Musalem
St Louis Fed president outlines his preferred view of monetary policy comms
Goodhart and Pradhan on the end of monetary independence
The unanchored central banker authors speak about how ageing populations, soaring healthcare costs and rising fiscal deficits will force central bankers to compromise on inflation targets and bail out indebted governments
Australia tightens interest rates to 15-year high
RBA’s fourth hike of 2026 targets inflation as governor says further increases are on the table
Rising defence spending could boost European growth – ECB
But macroeconomic benefits depend on cutting personnel costs and imports
Book notes: The unanchored central banker, by Manoj Pradhan and Charles Goodhart
A book sparkling with provocative opinions that challenges readers to rethink central banking amid evolving macro trends
Low- and middle-income US households most hurt by housing inflation – Barr
Governor signals more rate hikes to come to tame inflation
Adapting to AI crucial to central banks’ credibility, Panetta says
Bank of Italy governor tells Kyiv conference tech-driven investment will alter inflation
Canadian households and firms adapting to volatility – Macklem
Country has gone through ‘several stages of grief’ over death of open trade with US, says governor
The Fed enters a new epoch
Chair Kevin Warsh takes his first steps to transform the US central bank
The implications of AI on monetary policy
AI advances represent a demand pressure today and a potential positive supply shock tomorrow, argues the National Bank of Romania’s Leonardo Badea
Exim shutdown stymied US firms’ export earnings – paper
Shutting down export credit agency led to large capital misallocation, Atlanta Fed researchers say
BoE staff find uneven policy transmission across businesses
Survey findings suggest larger firms with high productivity and borrowing have better access to data
AI productivity shock may pull inflation up or down – BoE blog
Sectoral origin and speed of change will be key factors, economists find
Slovak firms face high costs from heatwaves – blog post
Companies need to invest in adaptation, says central bank official
Anchoring expectations ‘critical’ in energy shock – BIS researchers
Most significant shock since the 90s Gulf crisis “may warrant hiking rates more quickly”
Federal Reserve holds rates with three members dissenting
Hammack, Kashkari and Logan push for 25bp rise in what FOMC chair says was a collegial ‘family fight’