Unemployment
RBA board not expecting to raise rates for three years – Lowe
Australian central bank leaves rates unchanged as governor forecasts unemployment will fall slowly
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking on macroeconomics and policy
BoE expands asset purchases as UK locks down again
MPC publishes more pessimistic forecast of 11% growth contraction and high unemployment
RBA cuts rate and ramps up yield curve control
Economy is rebounding but central bank is worried about high unemployment
Fed eases terms on emergency facility as uncertainty rises
High-frequency indicators suggest US recovery is slowing amid resurgence of virus cases
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
SF Fed’s Daly calls for major action on US inequality
Fed can use new policy framework to cut inequality but Federal government must do more, says Daly
Bankruptcies could trigger ‘protracted’ unemployment – BIS research
Reallocating resources quickly will help reduce the pain of adjustment, economists say
Powell says economy faces risk of downward spiral
Risks from aggressive policy action are much smaller than risks due to inaction, Fed chair says
Unemployment is a national priority, says RBA’s Lowe
Central bank’s latest data shows unemployment at 7.5%
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
Eurozone unemployment hits 8.1% in August
Statistics agency warns figures could be underplaying pandemic’s economic impact
Riksbank signals rates likely to stay at zero for several years
Central bank does not forecast negative rates, but doesn’t rule them out
Australia’s central bank considering FX interventions, says Debelle
RBA is evaluating additional monetary policy tools, deputy governor says
US citizens report better financial health than pre-pandemic
Financial wellbeing boosted by government support and return to work, central bank says
Fed presents two severe stress scenarios to test Covid risks
Limits on share buybacks and dividend payouts may be extended as stress tests emphasise risks
BoE officials fear long-term ‘scarring’ as uncertainty hits record high
MPC members broadly gloomy on the outlook, but there is “huge” uncertainty, says Andrew Bailey
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, says Stephanie Aaronson
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
Raising inflation expectations may depress growth – Jackson Hole paper
More nuanced communication would help public understand state of the economy, say researchers
Average inflation targeting could cut inequality – Fed paper
‘Hank’ models tend to be supportive of Fed’s new approach to inflation targeting, research finds
Fed adopts average inflation target
Powell says FOMC will also allow employment to run above estimated maximum level
Bank of Spain research traces impact of lockdown
Authors call for exhaustive test-and-trace to avoid future nationwide lockdowns
Bank of Zambia cuts rates as Covid concerns intensify
Zambian central bank calls for debt sustainability policies as growth and inflation forecasts worsen