Productivity
AI productivity shock may pull inflation up or down – BoE blog
Sectoral origin and speed of change will be key factors, economists find
Bullock questions whether RBA has tightened enough
Governor says Australia’s economy is cooling, but more hikes will come if they are deemed necessary
Implications of the 2026 Middle East war
Gavin Bingham, Paul Fisher and Andrew Large detail the monetary policy, financial stability and international co-operation challenges for central banks
Unclear whether AI will reduce or heighten inequality – Barr
Fed governor’s caution contrasts with Warsh’s more bullish stance
Fed will ‘follow the law’ and ‘the data’ – Warsh
Chair tells Congress his aim is to keep US central bank out of politics
Rajan, King and Stein to head Warsh’s Fed task forces
Former governors among experts asked to help ‘advance the cause’ of US monetary policy
Data-driven approach needed to assess impact of AI – Lane
ECB board member sets out multiple unknowns as technology reshapes macroeconomic landscape
Lagarde ‘regrets’ forward guidance and Warsh plans ‘family fight’
Fed, ECB, BoC and BoE heads discuss inflation, uncertainty, AI, stagflation and independence in Sintra
Fed holds rates in first meeting under Kevin Warsh
FOMC drops easing bias and forward guidance, as chair announces taskforces to improve Fed operations
Zoltán Kurali on Hungary’s reserves strategy and euro adoption
Deputy governor speaks about portfolio positioning amidst geopolitical volatility, AI, CBDC and the future of the forint
Time saved by AI does not increase output – BoK study
Paper says technology has reached efficiency stage but not productivity stage
Iceland could join euro even during a crisis – ECB’s Vujčić
BoE’s Mann also highlights pros and cons of country’s accession at currency conference
Podcast: AI accountability in central banks
Transparency and explainability thresholds rise with risk and impact
AI will transform growth and employment structure – Bailey
The question is when and how this will happen, BoE governor says
Europe’s central banks face tough policy calls – Barclays CEO
Venkatakrishnan also spoke on UK political uncertainty, Brexit and banking regs
AI might raise r* due to wealth effects – Goolsbee
Impact on natural rate depends on whether productivity growth comes as surprise, says Chicago Fed president
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