Unemployment
RBA’s Bullock rules out setting an employment target
Governor says full employment cannot be reduced to a single measurement
Paper explores shifting drivers of Beveridge curve
Authors say job openings and unemployment data are not enough to judge prospects of a soft landing
Higher bond yields makes an ECB pause more likely
Lower inflation and tighter financing conditions reinforce idea 4% rates could be enough
China SWF buying bank shares on Shanghai exchange
Central Huijin was created in 2003 to address domestic banking crisis
More rate hikes may be needed, says Bundesbank’s Nagel
German governor has a soft landing as his baseline scenario
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
FOMC members express different views for policy path forward
Bowman and Kashkari expect further rate hikes but Daly is less certain
FOMC members’ narratives add value to projections, finds paper
Both staff and FOMC members 'projections aid forecasting, refuting Romer and Romer
Momentum builds to end RBNZ dual mandate
Think-tank calls for abolishing deposit insurance and creating new prudential regulator
Jackson Hole in the wake of policy rules
Symposium heralds a shift to relying on incoming data and judgement, rather than rules or even formal models, to hit inflation targets, writes Barry Eichengreen
Eurozone soft landing depends on Phillips curve – Schnabel
Executive board member says evidence is hard to read, calling for “robust” policy-making
US wage expectations rising, says NY Fed labour market survey
Both lowest acceptable transitionary wage and expected salary hit series highs
Should the ECB worry about divergent inflation?
Economists say widening readings across eurozone show lingering effect of energy price shock
PBoC cuts key rates as economy stutters
China stops publishing youth jobless rate after record-high figure in June
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay
US CPI inflation rises slightly
Rising shelter prices cause more than 90% of increase, but SF Fed predicts they will fall
Government employment has not recovered from pandemic – Fed
Low wages could be responsible from 450,000 missing state and local government workers in US
RBA holds policy rate as inflation eases
Lowe says inflation is falling but remains too high
PBoC holds key rate amid lacklustre GDP growth
Chinese economy grew 6.3% in second quarter, missing expectations by a full percentage point
Central banks average four forecast updates a year
Final decision on projections jointly taken by policy-makers and staff in most jurisdictions
Largest US banks pass the Fed’s stress test
Scenario saw banks continue lending despite losses three times greater than those of 2008 crisis
Italian and Portuguese leaders criticise ECB policy
Right-wing Meloni and centre-left Costa both sound warning notes on rates
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
New Zealand rejects RBNZ’s call for single price-stability goal
Updated central bank remit retains twin goals of price stability and maximum sustainable employment