Unemployment
RBA delays bond purchase review until 2022
Central bank pushes back review as new Covid outbreak threatens to delay recovery
Policy-makers and staff often determine headline forecasts
Joint approach may help conquer systemic bias
Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
Eurozone returns to growth in Q2
Employment increases, but economic expansion is uneven across economies
The distant cry of hawks? Fed begins tightening talk
Richard Clarida gives a date for hiking interest rates, as debate on taper timing continues
Fed launches standing repo facilities
Facilities to be open to foreign central banks and domestic primary dealers; FOMC keeps policy on hold
Unemployment has non-linear relationship to inflation – Fed paper
Authors say their findings could be relevant to debates over inflation targets
US unemployment rate stable at 5.9%
Little sign of ‘substantial further progress’ FOMC wants to see before taper
Powell says US is recovering faster than expected
Majority of FOMC members now expect policy rate hike in 2023, with no decision yet on taper
Inflation expectations rising – NY Fed survey
Survey finds consumers predicting higher prices, but also better labour market conditions
ECB policy paper says unconventional policy worked
Paper says QE purchases explain “lion’s share” of changes to eurozone yield curves
A return of the inflation monster?
There are fears that a shift in intellectual approach towards running economies ‘hot’ could herald a return of the money-eating inflation era
Summers steps up attacks on Fed inflation stance
Inflation hawk warns of “complacency” after April CPI hike, but FOMC members have stood firm
Don’t dismiss inflation risks but don’t overreact, say central bankers
Sbordone, Smets and Vlieghe weigh up challenges for central banks in the “return towards normal”
Fed leaders hold dovish line as CPI surges
Board members and regional presidents say inflation and employment goals still far from met
Fed’s Bostic says economic inclusion goals shape policy
Atlanta Fed president calls for more joint work with CFPB
BoE forecasts 7.25% UK growth in 2021
Bailey warns downside risks to the outlook remain
Fed plays down US economic rebound
Powell says economy still “a long way from our goals” as FOMC holds policy steady
Fed won’t set rates to ease debt pressure – Waller
Newest Fed board member stresses central bank autonomy in first public address
BoE’s Tenreyro highlights divergence in UK and US policies
US focused on protecting incomes, while UK protected jobs, MPC member notes
Barkin concerned over pandemic ‘scarring’
Richmond Fed chief says disruptions imperil access to jobs and economic growth
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions in March 2020 forestalled a damaging global financial crisis, as policy overhaul prompts introspection in Europe and Japan
BoE holds interest rates as MPC members differ over risks
MPC points to signs of stronger recovery but also uncertainties around household spending