Growth
RBI’s Das: pandemic improved India’s external balance
Boom in software business helped shore up current account and boost RBI reserves, governor says
Bank of Israel maintains stimulus despite rapid vaccination
GDP shrank by 2.4% in 2020, less than previously forecast
IMF chief economist has ‘no concerns’ over inflation in US
Biden plan likely to cause 2.25% inflation, within Fed’s framework, Gopinath says
Bank Indonesia resumes monetary easing
Central bank commits to further government bond purchases on the primary market
Kenya strikes deal on $2.4 billion IMF package
“Multi-year effort” required to stabilise public finances and boost growth
Bank of Zambia caught between surging inflation and debt crisis
Central bank hikes policy rate as kwacha falls and fiscal spending overshoots targets
The Covid crisis, central banks and the future
Crisis responses have had positive initial outcomes, but also exacerbated significant underlying challenges that raise concerns related to exit strategies and the future for central banks
Mexican central bank board cuts policy rate
Rate-setting board unanimously votes for looser policies despite above-target inflation
BIS paper seeks to overcome flawed Chinese growth statistics
Authors use regional data to circumvent “flat” GDP time series
Latin American economies threatened by pandemic resurgence – IMF
Western hemisphere chief warns recovery is uneven and under threat
RBI offers bond accounts to retail investors
Central bank to sell debt directly to public, as recent auctions show signs of strain
BoE tells firms to prepare for negative rates
Preparation is not a signal that negative policy rates will be adopted, Bailey stresses
Fed on hold in first policy meeting under Biden administration
Unanimous vote comes amid signs of possible further fiscal stimulus; new voting members join FOMC
IMF warns of ‘exceptional uncertainty’ in vaccine-driven recovery
Fund upgrades global forecasts amid early success of vaccine rollout
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
Eurozone bank credit tightens despite ECB stimulus
Banks expect credit to further tighten during the first quarter of 2021
New IMFC chair warns against premature stimulus withdrawal
Magadalena Andersson lays out priorities for the IMF over the coming years
Design flaws in Covid relief package cost millions of jobs – Fed paper
Delay to paycheck protection programme had “very substantial” impact, economists argue
Economics Benchmarks 2020 report – executive summary
Shedding light on economics governance, salaries, forecasting, research, publications and more
BIS research tracks changing consumption patterns
Pandemic has led to “catching-up” process in e-commerce, bulletin article says
Inflation could ‘approach’ FOMC target quicker than expected – George
Kansas City Fed president says decline in inflation has been idiosyncratic
Lower Mexican inflation raises chances of rate cuts
Third official nominated by president due to join rate-setting body at next meeting
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
US may face ‘jobless recovery’ despite huge stimulus
Economists warn fiscal stimulus has been poorly targeted; Ben Bernanke defends Fed policy