Growth
Tunisia raises rates by 75bp to tackle inflation
First hike under new governor comes as prices rose year-on-year by 7.1% in February
IMF paper looks at how inflation anchoring affects growth
Authors examine whether low inflation and anchoring inflation are positive for growth
Fed’s Powell expects strong US growth
Robust labour market likely to support income and consumer spending rises, Fed chair says
‘Job polarisation’ drives US men out of labour markets – Kansas City Fed paper
Technological change and globalisation reduce demand for skills of young and unskilled men
Researchers develop new index to measure geopolitical risk
Heightened threats slow growth and equities returns in advanced economies, paper finds
Bank of Korea unveils changes to its DSGE model
The existing model’s accuracy was reduced following structural changes in the economy
The winners of the 2018 Central Banking Awards
Bank of Canada wins Central Bank of the Year, Lesetja Kganyago picks up Governor of the Year and Perng Fai-nan receives Lifetime Achievement Award; 16 more awards unveiled
Fed anticipates higher growth and tighter policy
Policymakers consider the latest economic data warrants the continuation of gradual policy normalisation
Philadelphia Fed’s Harker forecasts only two hikes in 2018
Despite stronger growth and lower unemployment, inflation remains too weak
Canada effecting a cautious normalisation – deputy governor
Uncertainties related to trade, high debt levels and slower growth may delay new rate hikes
Higher inflation in the US pushes up yields
The headline consumer price index rose by 2.1% year on year
Riksbank leaves rates unchanged as inflation remains contained
Deputy governor Henry Ohlsson dissented and advocated raising rates by 25 basis points
Mester advocates continuing 2017 rate path this year
Cleveland Fed president says the current policy balances inflation and growth risks
BoJ’s Kuroda in line for second term
Haruhiko Kuroda looks set to be the first governor to be reappointed in over 50 years, but the choice of deputies is unclear
Lacklustre recovery down to pre-crisis factors – research
San Francisco Fed article says weak recovery in the US due to long-running factors, and not the immediate impact of the global crisis
US real GDP growth accelerating in 2018 – Atlanta Fed
The real-time index GDPNow forecasts an annualised expansion of 4% in the first quarter
World does not have to be ‘hostage’ to technology – Wilkins
Finding a way to control the market power of tech giants will be important, the Bank of Canada deputy says
Bank of Mexico hikes again as inflation remains high
The prospect of tighter policy in the US affects the monetary decisions in its major southern trading partner
Deflation tends to de-anchor expectations – BIS paper
Deflationary episodes seem to render expectations lower and more backward-looking
Philippines central bank on hold, despite surging inflation
January inflation hits three-year high, prompting many to expect a rate hike in the coming months
BoE opens door to May rate hike
MPC votes to keep current policy stance, but notes more positive inflation outlook; policy may now need to be tightened “by a somewhat greater degree”
Lower unemployment may not create inflation, Bullard says
The relationship between employment and prices has changed, warns US policymaker
Bank of Japan increases bond purchases amid global sell-off
Both the prime minister and the governor see no rush to withdraw stimulus
Phillips curve ‘alive and will soon be kicking’ – Fed’s Williams
John Williams expects US inflation to reassert itself soon