Economics
People’s Bank of China cuts RRRs and key rates
Bank starts to implement slew of stimulus measures
Bank of Japan holds policy rate
Decision comes as core inflation accelerates for fourth consecutive month
FOMC initiates rate cutting with 50bp reduction
Experts say Fed’s credibility is not on the line, but Powell remains under significant pressure
Book notes: The monetarists: the making of the Chicago monetary tradition, 1927-1960, by George S Tavlas
A fascinating, scholarly and sympathetic account of the Chicago monetary tradition
BoT governor calls for new growth model for Thailand
Sethaput advocates stronger focus on local development and quality of life
Alpana Killawala on communications under six governors at the RBI
The former RBI comms chief speaks about the importance of strategic communications, courting the media, open mouth operations and altering a governor’s ‘rock star’ image
Hungary has been ‘off course’ since 2021 – MNB governor
Matolcsy tears into government’s economic policy
Bank of Thailand holds rates at 2.5%
Change of government poses uncertainty over major cash handout plan
How to increase the impact of financial literacy initiatives
As surveys show financial literacy outcomes falling short, Pedro Duarte Neves distils key lessons
Full-scale war with Hezbollah is a tail-end event – Bank of Israel deputy
Andrew Abir says central bank has advised government to ensure adequate fiscal space as it expects war to last longer and revises its growth and inflation forecasts
Central Banking Awards 2024 ceremony honours best in field
Shirakawa receives lifetime award and Brazil is named central bank of the year
Housing price disparities complicate US monetary policy – research
Time-varying inertia in prices makes housing bubbles more unpredictable, Dallas Fed paper says
Economics is becoming exclusive, RBA official warns
Drop in diversity among Australian economists will hurt discipline, Jacqui Dwyer says
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
ECB paper recommends central fiscal instrument
Governments’ ability to delay fiscal consolidation should be limited, researchers argue
ECB paper uses RCT data on inflation expectations
Consumers’ level of attention is determined by economic environment, research finds
Hungarian minister calls central bank ‘unco-operative’
MNB’s critique of government strategy draws official’s rebuke
Credit rating agency failures continue despite EU reforms, paper finds
Bond issuers are still “shopping” for good ratings, ECB paper says
QE helped smooth sovereign bond yields, ECB paper finds
Eurosystem’s asset purchases helped reduce effect of “auction cycle”, researcher says
Book notes: Virtuous bankers: a day in the life of the 18th-century Bank of England, by Anne L Murphy
A bottom-up account of how clerks managed operations and enhanced the BoE’s reputation
Oil shocks can be identified in real time, paper says
Bank of Italy researchers’ model identifies demand and supply shocks from daily data
Fed policy has more effect during US recessions, ECB paper finds
Researchers use non-linear methods to examine effects of FOMC shocks
Energy shocks create monetary policy trade-off, paper says
Rate-setters should consider energy prices’ impact on jobless, Bank of Italy paper finds
Central banks need caution in easing policy, IMF says
World Economic Outlook says most indicators still point to soft landing