Labour market
IMF says global economy may be at ‘turning point’
China and India expected to drive half of global growth this year, but other economies are lagging
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Colombia finance minister says no more rate hikes needed
Ocampo says December inflation figure of 13.1% was the peak level
BoE’s Pill says UK vulnerable to inflation persistence
Confluence of factors leaves UK in worse position than others, chief economist says
Cook suggests US may need to change inflation models
Fed governor believes inflation on path to 2% but tight labour market remains upside risk
FOMC waiting for ‘more evidence’ of inflation decline
December FOMC minutes show staff and policy-makers warning inflation risks remain high
Fed slows rate rises with 50bp increase
Powell stresses possibility of soft landing supported by “structural labour shortage”
Powell signals FOMC may slow pace of hikes
Fed hopes to remove labour market pressure by cutting number of job openings, Powell says
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
Menon urges policy-makers to take a longer term view
Climate change is “the mother of all supply-side shocks”, MAS chief says
Inflation: what went wrong, and why?
Charles Goodhart and Manoj Pradhan detail three theories on the causes of high inflation, as well as their implications for policy responses
Fed’s Waller: rates could go ‘well above’ 4%
Governor projects “significant” September hike and says it is “too early” to judge inflation drop
BoE paper analyses drivers of price setting
Panel data on UK firms reveals asymmetry in how firms decide to raise prices
Supply-side pressures likely to persist – Carstens
Policy-makers “need to be realistic” about the feasibility of demand management, BIS chief says
Bank of Jamaica hints rate rises may be ending
MPC increases policy rate 50bp and says 6% may be “appropriate”
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women, despite inflation headwinds
RBNZ delivers fourth straight 50bp rate hike
New Zealand’s central bank now expects rate to peak 15bp higher, at 4.1%
RBI’s Patra envisages India as ‘economic superpower’
India has chance to achieve “escape velocity” from emerging market status, deputy says
Labour supply key to understanding inflation, Shin tells G20
Understanding labour market is critical task for policy-makers, BIS head of research says
New Zealand’s central bank delivers third straight 50bp hike
Analysts predict RBNZ will start slowing down the pace of rate hikes from October
Labour market power can explain ‘wageless recovery’ – IMF paper
Monetary policy can cut unemployment without raising wages where bargaining power is weak
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
Biden holds rare meeting with Fed chair Powell
Yellen admits she was wrong about the path of inflation in 2021