Unemployment
Costa Rica makes about-turn on interest rates
Central bank reverses November hike as inflation concerns tip towards the downside
South Africa to press ahead with Sarb nationalisation
Governor Kganyago warned in July 2018 nationalisation would be a long and expensive process
South African governor questions ruling party’s pledge to broaden mandate
ANC’s election manifesto called for monetary policy to target employment creation and growth
Polarised labour market has left low-skilled workers vulnerable – research
Technology and globalisation have hit wages of less skilled urban workers, says David Autor
Phillips curve still applies to Sweden, Riksbank researcher says
Firm-level data indicates that traditional relationship still holds, paper argues
BoE paper outlines results of uncertainty experiment
Decision-maker panel seeks to gauge business uncertainty in the context of Brexit
RBA governor does not rule out a rate cut in 2019
Uncertain international outlook has rebalanced policy options towards a looser approach
Fed’s 2019 stress tests to assume largest unemployment shock to date
Central bank also announces moves to enhance transparency in its stress-testing programme
‘Global inflation gap’ points to slack across advanced economies – paper
Authors find no evidence that inflation is “on the brink of surging ahead”
Sarb’s mandate will not change, president Ramaphosa says
Officials move to clarify manifesto claim following backlash
Low US unemployment unlikely to foster sudden wage growth – research
Fed projections see unemployment rate falling to 3.5% by the end of 2019
Fed can afford to be patient as global growth forecasts decline, says Clarida
Fed vice-chair says labour market is at full employment and inflation remains on target
EU labour mobility is cyclical stabiliser – paper
Common market allows migration from countries with high unemployment to markets looking for workers
Employers alter skill demands in line with unemployment, researchers find
Requirements for a bachelor’s degree increased during higher unemployment, authors find
Spending behaviour in unemployment does not fit with rational models – paper
Behavioural models of “present-biased or myopic” choices fit better with the data, authors say
US payrolls data proves strong
Non-farm payrolls beat expectations and wage growth rises, despite fears of a global slowdown
Euro area wage growth appears sustainable – ECB bulletin
ECB wage analysis shows increases are no longer being driven primarily by ‘wage drift’
Fed goes ahead with fourth hike of 2018
Policy-makers vote for hike despite volatility, but dovish language suggests growing caution
Fed presidents weigh in on December rate decision
Incoming data and recent speeches point to slightly more dovish outlook
No-deal Brexit could hit UK harder than global financial crisis, BoE says
Latest analysis from the UK central bank says growth could plummet 8% in the event of a no deal
Fed vice-chair calls for gradual normalisation
Inflation expectations may be lower than 2% target, says the Fed’s vice-chair
US inflation likely to fall below target – San Francisco Fed
Factors unrelated to economic cycle have increased their contribution to price increases in 2018
RBNZ and Fed ran similar policies despite different mandates, paper finds
New Zealand’s inflation target led to similar policies as Fed’s dual mandate, researchers find
Bank of Canada to weigh up alternatives to inflation targeting
Central bank will hold “full horse race” between nominal GDP targeting and other alternatives, Wilkins says