Central Banking
Millions of South Korean workers face AI replacement – research
Workers with higher incomes and education are more at risk, Bank of Korea paper says
Market ‘exuberance’ a problem for central banks – Gopinath
Easier financial conditions may be coming too early, IMF official says
Monetary policy likely to be weak climate tool – Bank of Spain paper
Model finds central banks are likely to prioritise price stability over reducing carbon emissions
Fed paper presents new way to measure consumer welfare
Consumer preferences change in line with incomes, researcher argues
Generative AI set to profoundly change workforce – IMF research
Paper recommends retraining for workers whose jobs are susceptible to erasure
Bank of Thailand rejects prime minister’s rate cut call
Assistant governor says cutting rates cannot provide a quick fix to economic problems
CBDCs are subject to ‘trilemma’, ECB paper warns
Research builds on Diamond-Dybvig model to examine possibility of runs on central banks
Philippine president removes Diokno as finance minister
Marcos gives former governor a place on central bank monetary board after rice subsidy clash
Borio and Zöllner to depart BIS in 2024
Hyun Song Shin and Luis Bengoechea will fill roles left by top economist and banker
Cash transfers cause persistent jobs boost in Brazil, research finds
San Fran Fed paper argues previous research neglected effects on informal employment
PBoC holds key rate after third consecutive month of deflation
China’s central bank surprises analysts by restraining policy support amid weak economic data
Polish court blocks state from investigating governor
Prime minister has vowed to remove Glapiński from office, alleging unconstitutional behaviour
Central banks should co-ordinate policy – Minneapolis Fed paper
Policy-makers should consider decisions’ effects on world real rate, authors say
Singapore moves to expand MAS’s supervisory powers
Central bank would oversee currently unregulated activities and have greater investigative remit
Bundesbank paper looks at core inflation uncertainty
Higher uncertainty over inflation acts like positive demand shock, researchers find
Extreme temperature harms household finances, warns paper
Payday loan delinquency and defaults increase during extreme weather
Communicating uncertainty helps curb expectations – BoC paper
But conveying uncertainty about inflation weakens link between inflation and spending plans
Bundesbank paper looks at role of carbon emissions disclosures
Obliging firms to increase transparency boosts low-carbon investment, researchers find
UK plans to tap deposit insurance to support resolution
New mechanism would use deposit insurance to fund failed banks, bridge banks and regulators
Researchers warn US vacancies are ‘untethered’ from other data
Minneapolis Fed economists say US could face “more substantial job losses”
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Former PBoC deputy makes televised corruption confession
Fan Yifei admits to accepting benefits from businesspeople on state broadcaster
De Guindos says eurozone faces technical recession
ECB vice-president says disinflation process is likely to slow in 2024
ECB paper examines firms’ response to carbon trading
Policy-makers should use subsidies for green innovation alongside carbon credits, researchers argue