Coronavirus
Biden stimulus will not move inflation much – Chicago Fed paper
Research finds most models predict very limited and short-term increases
Bank of Israel: vaccination fuelling rapid recovery
Inflation expectations are increasing, but headline figure still well below target
Is the ECB implementing yield curve control?
The eurozone has adopted a hybrid system – lying somewhere between the Fed’s QE and the BoJ’s yield curve control – that targets wider financing conditions
Fed may make Fima permanent – SF president Daly
SF Fed president says policy-makers also considering creation of domestic repurchase facility
Covid-19 support may have created “zombie firms” – BIS economists
Policy-makers should impose tighter lending standards and reform bankruptcy law, analysts argue
Emerging-market central banks lead on women’s empowerment
EME central banks have more women at staff level and in senior positions, but there are deep disparities worldwide, with childcare availability appearing to be a major cause
Demand for US services likely to rebound- Cleveland Fed survey
Study says US consumers have become more optimistic, except older people
Book notes: Central banks as fiscal players, by Willem Buiter
Buiter puts a real economic problem into a convincing theoretical frame, and translates it into applicable policy advice
New governor takes office in Belize
Former IMF official Vasquez takes office as financial and economic crisis unsettles country
Hungary’s central bank triples gold holdings
MNB says inflation risk and higher government debt played “key role” in decision
UAE names new central bank governor
President appoints deputy to top role as former governor resigns after one year in post
IMF climate dashboard reveals pattern of vulnerabilities
Data ranges from frequency of natural disasters to carbon intensity of lending
China and private sector could free ride on SDR issuance – El-Erian
Economist calls for development of a new common sovereign debt restructuring framework; Vera Songwe says many countries need more debt relief
BIS launches database on Covid-19 monetary policy actions
Data designed to help researchers study “massive” policy response to pandemic
IMF adjusts growth forecasts upward
Fund warns of uneven and unequal recovery, but is more optimistic than it was in October
Higher debt likely to expose EMs to stress – Brazil’s governor
Roberto Campos Neto argues Brazil’s higher inflation is due to temporary shocks
Rising rates could endanger emerging market recovery, IMF warns
“Divergent recovery” likely to create financial stability challenges, report says
MAS contributes reserves to IMF pandemic funds
Singapore to provide $20.6 million to IMF initiatives for low-income countries hit by Covid-19
A latent rise in r* could upend monetary policy
A rising natural rate could create serious challenges for policy-makers, write Jorma Schäublin and Philip Turner
IMF calls for ‘urgent efforts’ on non-bank macro-pru tools
Fund warns of trade-off between support now and risks in the future
Barkin concerned over pandemic ‘scarring’
Richmond Fed chief says disruptions imperil access to jobs and economic growth
Bolivian government prosecutes ex-governor over IMF loan
Justice ministry charges senior figures in last administration as observers condemn “political attack”
Federal Reserve to end payout caps for better-capitalised banks
Fed will lift limits on payouts and buy-backs for banks passing stress tests on capital levels
Riksbank to open two contingency cash offices
Offices will be opened this year and next to guard against disruptions to cash supply