Central Banks
Norges Bank increases rates despite below-target inflation
Olsen warns of “considerable uncertainty” as MPC says policy could be loosened or tightened
IMF paper emphasises importance of carbon pricing
Authors say carbon tax would be “more efficient and easier to administer” than other options
Economics Benchmarks 2021 report – making sense of the modern economy
Covid-19 coloured central banks’ views on the governance of their economics function in the past year, from research topics to forecasting, data, publications and more
Fed doubles pace of quantitative easing taper
FOMC says recent inflation figures and labour market strength drove the decision
Chilean central bank continues sharp policy tightening
Second consecutive 125 basis point increase takes policy rate to 4%
Hungary continues campaign of rate hikes
MNB ends asset purchase programme, as inflation rises above 7%
Podcast: Oliver Wünsch on a solution to eurozone fragmentation risks
A common fiscal authority could offer stability, but would require sharing more sovereignty
Trade credit helped amplify initial Covid-19 shock – BdF paper
Net borrowers of trade credit faced sharper liquidity squeeze, researchers find
Larger research teams tend to publish more
Central banks with bigger teams report greater publishing volumes, but variation remains
Inflation challenges ECB’s normalisation plans
Central bank expected to confirm end of PEPP purchases on December 16
Pakistan confronts inflation with 100bp hike
Third consecutive increase may be last for a while, MPC says
IMF urges UK to withdraw ‘exceptional’ monetary policy
Fund says signals would dampen inflation expectations while leaving policy supportive
Bank of Canada renews monetary policy framework
Central bank conducts first “systematic” study of other frameworks since it adopted inflation targeting
Armenia raises policy rate 50 basis points
Central bank tightens grip on credit with seventh rate hike in 12 months
Masaaki Shirakawa on lessons from crisis and how to reform central banks
The former governor reflects on a turbulent 40 years at the Bank of Japan, and considers how central banks might face up to the challenges of the future
Advanced economies draw on wider range of models
DSGE models and newer techniques more common at advanced economy central banks
BoE tightens countercyclical buffer as risks stabilise
Banks expected to meet higher rate without cutting lending, even as capital ratios dip
ECB’s de Guindos tests positive for Covid-19
Vice-president has “very mild” symptoms and has not been in “close contact” with Christine Lagarde
BSP inks deal with Australian firm for polymer note
Note Printing Australia will produce 1000-peso banknote, circulating from next year
US inflation reaches new peak
CPI figure hits 6.8%, the highest rate in nearly four decades
Reserve Benchmarks 2021 – presentation
Central Banking’s reserve subject matter specialist Victor Mendez-Barreira speaks with Chris Jeffery about liquidity, reserves coverage, external partners, human and tech resources, and ESG implementation
The matter of minutes: Why open up private deliberations?
Many central banks publish records of MPC meetings, but far fewer publish vote tallies. Where should public scrutiny stop?
Quarterly forecast updates predominate
Frequency of forecasts varies more widely in emerging markets