Fiscal policy
Savings, not debt, can finance EU growth – Villeroy de Galhau
Governments need “strategic pivot” to meet structural challenges, says BdF governor
Minneapolis Fed chief shares concerns about tit-for-tat tariffs
Kashkari points to heightened risk of inflation but insists US economy is “strong”
Ruling party loyalist to become new BoT chair
Appointment of Kittiratt Na-Ranong will increase concerns about erosion of bank’s independence
Covid stimulus did not trigger US inflation surge – NBER study
Working paper says QE and fiscal stimulus had minimal impact on price rises
Bank of England cuts policy rate to 4.75%
Policy committee votes by 8–1 to reduce bank rate by 25bp
Thailand delays selection of central bank chair
Decision follows warning against political interference from four former governors
Colombia cuts rates by 50bp in split decision
Recent constitutional reform bill could hurt fiscal sustainability, says central bank
Bill aims to remove Tunisian central bank’s independence
Proposed law would also allow direct monetary financing of Treasury
Bank of Thailand announces first rate cut in four years
Central bank unexpectedly eases policy by 25bp as inflation stays below target
Lower risks enable authorities to shift policy – Amro report
Asean+3 research arm says challenges remain on dollar dependency and property markets
Fiscal upside, economic downside to EU deficit procedure – study
Fiscal consolidation sometimes led to restrictive pro-cyclical stances, research finds
Shared EU debt not ‘essential’ for competitiveness boost – Draghi
Former ECB chief also says his proposal for €750bn of extra annual investment is “conservative”
Central banks must reckon with the costs of quantitative easing
Asset purchase programmes have become a significant loss-maker for central banks. Jagjit Chadha says the losses raise questions about value for money, fiscal distortions and independence
Central Bank of Brazil warns against lavish fiscal spending
Policy committee says unsustainable public debt would make it harder to control inflation
Hungary has been ‘off course’ since 2021 – MNB governor
Matolcsy tears into government’s economic policy
BoE and bond vigilantes ‘not responsible for 2022 gilts crisis’
Ex-bank official rejects former PM’s claims that LDIs were primary cause of yield spike
Greedflation, if it ever existed, is correcting itself
Steve Kamin constructs a “wage gap” to assess inflationary pressures in the US
‘Reserve asset competition’ explains global fiscal cycle – paper
Local fiscal shocks can trigger debt issuance abroad, authors find
PBoC adviser calls for more expansionary economic policies
Monetary policy committee member advocates stronger measures to alter market expectations
French energy ‘tariff shield’ cut inflation by 2.6% in 2022 – report
Authors say measures helped to boost household purchasing power and corporate margins
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance