Growth
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
Raising inflation expectations may depress growth – Jackson Hole paper
More nuanced communication would help public understand state of the economy, say researchers
Record-low inflation may require ECB to boost PEPP purchases
HICP index expected to decline year on year by 0.2% in August; core inflation at record-low 0.4%
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved
Argentina requests new IMF programme
Government and central bank say economic stabilisation is not possible without recovery
Eurozone needs ‘forceful policy response’ – Schnabel
Banks in eurozone face “substantial pressure” from Covid-19, ECB board member warns
The eurozone’s eastern conundrum
Bulgaria and Croatia expect a net positive effect as they take final steps to join the euro, while the Czech Republic, Hungary and Poland remain reluctant
Bank of Spain research traces impact of lockdown
Authors call for exhaustive test-and-trace to avoid future nationwide lockdowns
Bank of Zambia cuts rates as Covid concerns intensify
Zambian central bank calls for debt sustainability policies as growth and inflation forecasts worsen
Financial indicators can warn of European growth risks – ECB paper
Index that aggregates financial variables in non-linear way provides most information – researchers
James Bullard on the Fed’s policy review, FSOC and forecasting jobs data
St Louis Fed president discusses his support for average inflation targeting, his concerns about US Treasuries market function, non-bank regulatory weakness and negative rates, as well as the unexpected success in using Homebase data to predict highly…
Covid-19 policy-making and the need for high-speed data
High-frequency data holds the promise of speed and adaptability, but the rush to find alternative economic indicators has the potential to create problems
Bank of Mexico cites ‘major challenges’ as it cuts rate
Policy-makers focused on maintaining “room for manoeuvre” as inflation risks evolve
Covid-19: a watershed moment for China’s BRI?
China faces a delicate balancing act when it comes to forgiving and restructuring Belt and Road Initiative debt while preserving the soundness of its financial institutions
Taiwan central bank open to more onshore insurer FX hedging
Central bank suggests lifers can use onshore swaps to hedge dividends, but some warn it could hit NDF market
Emerging markets face L-shaped recession – paper
Researcher works back from growth forecasts to see how Covid shocks might play out
Former RBI deputy attacks government over fiscal dominance
Recent actions by Indian government are “tantamount to coercive monetisation”, says Viral Acharya
PBoC official joins policy lender after clearing up Baoshang Bank
Zhou Xuedong joins China’s biggest policy lender, as PBoC declares Baoshang Bank bankrupt
Australian central bank cuts growth and jobs forecasts
RBA forecasts 10% unemployment by year’s end as official says recovery will be ‘uneven’
Romania cuts rates as rising Covid-19 cases hurt economy
Central bank says resurgent pandemic risks recovery and calls for more clarity on fiscal policy
Brazil’s central bank cuts rates to record low
MPC says there is limited space for more monetary policy stimulus as crisis continues