Macroeconomics
US and China bolster collaboration on financial stability
PBoC and Treasury strengthen communication channels for managing periods of stress
Medium-term US inflation expectations hit record low
However, expert says infrastructure projects could push prices to higher-than-expected levels
New Zealand cuts policy rate for first time in four years
RBNZ cites easing inflation and weakening economic activity
EMEs’ rising reserves increase global volatility – NBER study
Emerging economies’ accumulation of foreign assets has depressed global interest rate
Grocery inflation caused by wages and raw goods prices – Fed study
Research comes as FTC launches inquiry into alleged price gouging by US retailers
US Helocs rise after years of decline – research
Study by Kansas City Fed warns balances are outsized compared with debt consolidation
NY Fed study documents widespread manufacturing slowdown
Firms of all sizes in industries across US are affected, according to research
Bank of Thailand announces measures to ease household debt
Central bank extends easier repayment rules for card users and persistent debtors
US productivity may fuel interest rate divergence and dollar strength – Fed study
Business dynamism and financing conditions may explain lack of spillover into other advanced economies
RBNZ explores new ways to monitor financial stability
Researchers model based on news sentiment and NPLs in latest research
Innovate to tackle challenges, says BoT deputy governor
Mallikamas outlines ways to deal with economic and geopolitical uncertainties
Eddie Yue reappointed as head of Hong Kong Monetary Authority
Chief executive says HKMA will promote stability amid “complex” economic and geopolitical environment
PBoC unexpectedly cuts key interest rate
MLF rate’s 20bp reduction is largest decrease since 2020
Acting US comptroller warns of threats to stability
Hsu defends preemption, federal oversight and increasing regulation for large banks
State-supplied firms in Belgium are less profitable – study
Research by central bank shows financially troubled firms sustained by government orders
US unemployment or inflation will worsen if vacancies do not fall – study
Research says “last mile” in tackling inflation will depend on developments in labour market
PBoC holds key rate despite uneven economic recovery
Central bank likely to keep MLF rate unchanged before Fed cuts rates, analysts say
Housing price disparities complicate US monetary policy – research
Time-varying inertia in prices makes housing bubbles more unpredictable, Dallas Fed paper says
Twenty years on, Visegrád states are converging to rest of the EU
Czech Republic, Hungary, Poland and Slovakia have undergone economic transformation, CNB finds
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
ECB paper recommends central fiscal instrument
Governments’ ability to delay fiscal consolidation should be limited, researchers argue
ECB paper uses RCT data on inflation expectations
Consumers’ level of attention is determined by economic environment, research finds
Hungarian minister calls central bank ‘unco-operative’
MNB’s critique of government strategy draws official’s rebuke
Profit inflation and monetary policy: weighing the evidence
Biagio Bossone says profit inflation needs monetary ‘fuel’ to rise – but fiscal policy is the best fix, should governments have the ‘guts’