Growth
Georgia’s Gvenetadze on implementing an aggressive reform agenda
The National Bank of Georgia governor speaks about efforts to improve monetary policy, financial infrastructure, financial literacy, transparency and ESG
Nobel laureate envisages climate change-fighting ‘club’
Green finance will not be enough to halt climate change, says William Nordhaus
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
IMF warns of permanent economic damage from Covid-19
Pandemic could pitch 90 million people back into extreme poverty, fund says in new economic outlook
RBI chooses to ‘look through’ above-target inflation
New committee chooses to focus on growth as supply factors push up inflation
Powell says economy faces risk of downward spiral
Risks from aggressive policy action are much smaller than risks due to inaction, Fed chair says
Argentina allows peso to fall faster
Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction
Eurozone unemployment hits 8.1% in August
Statistics agency warns figures could be underplaying pandemic’s economic impact
BoE’s Ramsden: UK not yet ready for negative rates
Deputy governor highlights several important considerations in decision to push rates below zero
ECB paper offers model for timely response to financial risks
Framework should allow policy-makers to act rapidly in response to rising risk, authors say
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
Norges Bank holds rates over Covid-19 fears
Norwegian central bank expects rates to remain unchanged over the next two years
Estimating the cost of a pandemic grant for the world’s poorest economies
The cost of support measures for vulnerable economies is manageable, says Steve Kamin, but political leadership may be lacking
Iraqi prime minister changes central bank governor
New governor pledges banking reform as finance minister warns country needs economic change
Fed presents two severe stress scenarios to test Covid risks
Limits on share buybacks and dividend payouts may be extended as stress tests emphasise risks
SBP offers overseas Pakistanis access to digital banking services
Prime minister says he hopes the Roshan Digital Account will help channel foreign exchange to Pakistan
Lower-income countries generate highest reserves growth
Most reserves portfolios appear to have weathered the Covid-19 crisis well
BIS warns of gap between market valuations and reality
Corporate credit spreads have tightened, despite what the BIS sees as a looming solvency crisis
Deep learning can beat other forecast methods – Bank of Korea research
Deep learning models have smaller margin of error than conventional methods, research finds, but data quality is key
BIS paper studies lifecycle of zombie companies
Number of zombie firms has risen substantially, and their future prospects are not good, authors say
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, says Stephanie Aaronson
ECB should scale back monetary stimulus after crisis – Weidmann
Knot says central bank should adopt symmetry in the implementation of PEPP purchases
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says Bank of England deputy
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer