Coronavirus
Biden stimulus will cause small, short price spike, says paper
San Francisco Fed predicts American Rescue Plan will boost inflation by 0.3%
One in ten central banks opened new liquidity swap lines
Benchmarking participants expanded lines in dollars, euro and renminbi
Weidmann to step down as Bundesbank president
After over 10 years leading the German central bank, Weidmann will leave for “personal reasons”
Delta variant had smaller impact on US consumer spending
Cleveland Fed finds weaker or no link between hospitalisation and spending in 2021
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
Mexican inflation rising rapidly, warns deputy governor
Heath says prices increasing at “really phenomenal” rate but expects full pandemic recovery by 2023
US CPI inflation rises to 5.4%
Prices continue upward climb, but policy-makers still see pressures as temporary
Clarida: ‘Stagflation is not my baseline case’
Fed vice-chair says inflation situation not akin to 1970s
IMF: growth prospects dim as pandemic lingers
Fund revises down growth forecasts, warning of inflation, disruption and divergence
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
ECB’s Lane: one-off wage increases do not equal sustained inflation
Inflation is forecast to have reached 3.4% year on year in September, well above the ECB’s 2% goal
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
Unemployment falls across North America
US recovery is weaker than expected, while Canada reaches pre-pandemic jobs levels
Peru central bank raises rates for third time in two months
BCRP forecasts inflation will return to target, but expresses concern over expectations
Some ECB rate-setters concerned over inflation
Minutes show certain governing council members called for sharper cut in asset purchases
Peru’s president re-nominates long-standing governor
Economy minister says Julio Velarde is an “excellent professional”
Bank of Israel again holds rate steady
But MPC signals it is ready to end QE programme if economic recovery continues
Uruguayan central bank makes second rate increase in a row
Central bank aims to end “expansive” monetary policy and guide inflation to target range
Covid-19 has accelerated paradoxical developments in cash usage
Antti Heinonen explores the unusual patterns in banknote demand in 2020 and draws lessons for the future
Evergrande tests China’s commitment to deleveraging
Chinese officials are having to choose between near-term growth and long-term economic health
Romania orders first rate increase in more than three years
Central bank adds 25 basis points as energy prices bite, while Moldova continues tightening
Fed asks watchdog to review controversial trading
Move follows resignation of Boston and Dallas heads, as Warren asks for SEC probe
BoE report sheds light on Covid market operations
Surge in scale and frequency of operations amid switch to work from home created “issues”