Unemployment
Phillips curve ‘alive and will soon be kicking’ – Fed’s Williams
John Williams expects US inflation to reassert itself soon
Rates on hold after Yellen’s final FOMC meeting
New committee finds unanimity on rate hold, as Janet Yellen prepares to step down
FOMC will lose two dissenting doves in 2018
Kashkari and Evans were the only members who voted against the last rate rise on December 13
Demography, tech reduce US natural unemployment rate – paper
Baby boomers remain active longer, and older workers record lower levels of unemployment
Weak inflation in Nordic countries likely to keep rates on hold
Sveriges Riksbank and Norges Bank set to prolong their dovish stances in last policy meeting of 2017; Iceland holds rates
Income convergence in eurozone faltered before euro, research finds
Strong financial cycle concealed lack of productivity growth since 1990s in Spain and Italy, implying euro may not be to blame
Strong growth and lower unemployment allows Fed to normalise policy, Yellen says
Outgoing chairwoman adds policy is not preset and will depend on economic data
Most UK banks withstand ‘disorderly Brexit’ stress tests – BoE
Majority of banks unfazed by tests “more severe than the financial crisis”, but a few struggle with lingering issues
December hike in focus despite FOMC inflation worries
Some Fed policymakers fret that inflation expectations are too low to bring inflation back to target, but broad view is of an economy gathering pace
Sweden still needs loose policy – IMF
Elevated house prices, public debt and low wage growth are the biggest risks to the economy
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
Poloz: standard inflation theories still work
Old relationships “are as applicable today as they ever were”, says Bank of Canada governor
German economic council urges ECB to tighten policy
Group of experts says stronger growth and loose policy could lead to higher financial risk
Tinkering with rates will not bolster New Zealand employment
The New Zealand government would do well to remember why a single price stability mandate was established in the first place
FOMC shrugs off hurricane damage
Rates on hold as committee judges economy to have weathered damage from two hurricanes
ECB may change composition of QE, researchers say
Lower levels of sovereign bond acquisitions may allow the central bank to extend stimulus into 2019
RBNZ faces mandate review under new government
Coalition agreement retains Labour pledge to consider shake-up of Reserve Bank mandate
Bank of Israel grapples with low inflation
Latest figure is a welcome exit from deflation but the central bank does not expect prices to be back on target until 2018
Low-paid jobs may explain flat Phillips curve – research
As recovery continues, this phenomenon should dissipate, authors say
Williams: weak productivity, population growth keep rates low
The “new normal” implies a federal funds rate at 2.5%, says San Francisco’s John Williams
Markets upbeat on strengthening US wage growth figures
Non-farm payrolls drop slightly but wages appear to be gathering pace; figures impacted by hurricanes Irma and Harvey
Bank of Portugal expects stronger growth in 2017
Exports are expected to boost GDP growth to 2.5% in 2017, up from 1.5% in 2016
John Williams on the neutral rate of interest and mandate change
The president of the Federal Reserve Bank of San Francisco speaks about the plunge in the natural rate of interest, and why it means central banks should work together to review their price stability targets
Chicago Fed’s Evans sees little risk of inflation surge
Study by the Chicago Fed finds little evidence there could be a threshold in unemployment beyond which inflation may surge