Productivity
€25K handouts would not affect labour market – ECB paper
Stimulus packages are effective in raising consumption, researchers argue
Top officials weigh impact of trade war and AI
ECB president says impact of US tariffs has been “exact opposite” of expectations
Lagarde revives pitch for euro’s international role
Single currency can become ‘true source of strength’, ECB president says
National statistics need reform to capture AI impact – study
Official data tends to lack the granularity to capture transformative effects of AI, authors say
Fiscal dominance: are central banks about to be Trumped?
Jagjit Chadha highlights the danger of an ‘upper bound’ on interest rates as fiscal strains grow
Norges Bank continues easing campaign with another 25bp cut
Central bank governor strikes hawkish tone, highlights increasing productivity
BoK economists discuss policy responses to ‘super ageing’
In Do Hwang and Boreum Kwak speak about the actions South Korea should take as critically low birth rate limits central bank’s policy space
Towards a new monetary policy framework for the AI age
AI may render the traditional monetary policy toolkit less effective and the familiar rules of engagement obsolete, argues Biagio Bossone
Weak productivity reduced output in Australia by up to 3% – study
RBA paper says decline has “profound implications” for citizens’ welfare
Australia cuts rates by 25bp as expected
RBA governor says inflation within target, as bank’s forecasts assume further cuts
Ageing societies limit monetary policy space – BoK study
“Super aged” populations cut growth and inflation, and weaken banking sector, authors say
US bank profitability measure continues rising – study
Net interest margin climbed throughout 2024 and Q1 2025, St Louis Fed research finds
Natural interest rate driven by productivity growth – research
Population increase also plays important role in determining metric, RBNZ paper finds
AI at the ECB and the need to strengthen internal critical thinking
Carlos Bowles writes that efficiency gains should be shared with staff and efforts made to protect cognitive capacity
Atlanta Fed’s GDP estimate takes a nosedive
Bank projects more severe contraction in Q1, while analysts point to possible recession
The interest rate dilemma in an uncertain world: a balancing act
Biagio Bossone makes the case for a holistic policy approach that includes extending IT tolerance bands, smart fiscal policies, supply-side reform and financial safeguards
Higher tariffs would hurt US allies as well as its foes – research
However, research says country would be largely shielded from impact of geopolitical fragmentation
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Imported inflation waning but still present – BoE’s Dhingra
MPC member tells panel that another energy shock could still trigger renewed price hikes in UK
Central banks to maintain independence despite threats – panel
Top central bankers discuss Trump, AI and why they plan to ignore IMF on rate cuts