European Central Bank (ECB)
ECB paper examines green regulation’s productivity impact
Tougher rules seem to hurt productivity, but might raise it over longer horizons, researchers say
Eurozone consumer inflation expectations down ‘significantly’
ECB data shows median 12 months ahead expectations fell to 4.1% in April
Rule-setters need to heed their own advice
The US risks a reputation for failing to meet standards to which it holds others
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Eurozone inflation declines sharply in May
Core inflation declines from 5.6% to 5.3%
Lagarde warns against excessive tightening
Eurozone inflation declined sharply in May from 7% to 6.1% and core inflation declined to 5.3%
IMF economist takes on vexed question of macro-pru calibration
Housing markets are “at a turning point”, says Laura Valderrama, and policy faces tough trade-offs
Major central banks set out CBDC policy debates
BIS and central banks discuss major policy issues that still need to be solved
Common deposit insurance essential for financial stability, says ECB
Central bank says tighter financial conditions are putting pressure on households and businesses
Offline digital euro solution could be years away, ECB says
Central bank invited market participants, including Amazon, to carry out front-end protocol tests that included self-custody wallets
Carbon pricing would have ‘limited impact’ on eurozone inflation, says paper
Inflation would rise less than 0.2% per year until 2025 and then decline, researchers say
ECB needs ‘persistence’ in tight policy, French governor says
Transmission is slow but rate should reach terminal level in summer, says Villeroy de Galhau
Governors weigh trade-offs between inflation and financial stability
Officials stress central bank independence is key to addressing these risks
ECB paper estimates inflationary effects of climate change
Rising temperatures are having persistent effects on prices, especially for food
ECB policy leaks have ‘sizeable impact’
Leaks tend to reflect minority views and reverse trends in short-term rates
Spillovers more widespread than previously thought – Boston Fed
Many central banks cause spillovers besides the Federal Reserve, researcher says
People: ECB seeks new supervision chief
Andrea Enria nears term end at SSM; Bank of Canada appoints deputy; Israel names SWF head
Inflation impact of ECB tightening will peak in 2024, says research
Effect on economic activity is faster and will reach highest intensity in 2023
European body criticises some of ECB’s supervisory methods
ECB rejects audit body’s arguments over supervision of eurozone NPLs and capital levels
Common deposit insurance a ‘crucial step’ – ECB’s de Guindos
ECB vice-president says this is the European banking system’s main vulnerability
ECB paper suggests faster methods for estimating eurozone employment
Nowcasting tools outperform models currently used by ECB, researchers say
ECB to review staff wages after union protest
Central bank will formally review pay after works council rejects below-inflation rise
Eurozone consumer inflation expectations rose significantly, ECB says
Rise in expectations may bolster arguments for tighter monetary policy
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…