Unemployment
Romania and Poland continue to hold rates
Central banks exercise caution as inflation and geopolitical risk cloud outlook
ECB hikes by 25bp as eurozone inflation takes off
Staff projections foresee higher price growth followed by downward revision over coming two years
‘Dark corners’ authors on setting policy under intense uncertainty
Douglas Laxton and Shalva Mkhatrishvili say policy-making should work to avoid the worst outcomes
Remote working drove US youth unemployment – NY Fed study
Economists say uptick in joblessness among US graduates predates spread of AI
ECB board members begin priming markets for rate hike
Schnabel “does not expect” TPI to be needed as bond selloff was driven by “inflation compensation”
Book notes: The art of monetary policy, by Kristin Forbes
The message that effective monetary policy-making requires judgement, flexibility and realism alongside technical expertise is both persuasive and highly relevant
Iceland hikes by 25bp, citing rising expectations
Economic outlook deteriorates as energy prices rise and domestic wage pressures persist
European central banks opt to hold
Albania, Czech Republic, Poland, Serbia and Sweden keep rates constant
RBA tightens again as Iran war pushes up inflation
Price shocks caused by conflict have made all Australians poorer, governor says
ECB holds and faces dilemma of whether to hike in June
Lagarde says direction is ‘clear’ as Iran conflict worsens outlook for inflation and growth
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
Norges Bank holds and signals future rate hikes
Job of tackling inflation ‘has not been fully completed’, says governor
BoE faces its toughest test in four years
Path to contain inflation from supply-side shocks is different compared with 2022–23
Backdrop to energy shock ‘more benign’ than in 2022 – Lagarde
ECB president says it is still too early to tell if rates will have to rise in response
ECB holds rates, predicts 2.6% inflation for 2026
Lagarde presents gloomy outlook for eurozone inflation and growth as energy prices spike
‘Technology intensity’ worsens employment outcomes – study
Authors say jobs more likely to be lost in sectors with large prior investments in robotics and IT
Governor of the year: Jerome Powell
The Fed chair has shown high levels of integrity and resolve in upholding his public duty in the pursuit of price stability and maximum employment
Single and dual mandates often result in same policy – Schnabel
AI productivity boom yet to show up in eurozone data, ECB board member adds
RBA governor says conflict may require monetary policy response
Bullock says board considering potential supply shocks amid already high levels of inflation
Lagarde downplays odds of early exit
ECB president uses interviews to say she is on a ‘mission’ with a ‘baseline’ of serving out her term
Full ‘postmortem’ on QE yet to be written – Klaas Knot
Former DNB governor expects Fed to continue international monetary diplomacy under Warsh