Unemployment
Norges Bank does not expect wage-price spiral, governor says
Wage moderation allows central bank to strike balance between inflation and employment
BoE widens asset purchases as ‘dysfunction’ threatens again
Surge in gilt yields comes in final week of BoE’s “temporary” intervention
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 raises interest rate 75bp for third time
Powell reiterates pledge to “keep at it” until inflation is back to 2%
US CPI inflation falls modestly
New York Fed reports “steep declines” in inflation expectations, but core CPI ticks up
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
RBA raises interest rate to seven-year high
Governor Philip Lowe acknowledges impact of rate hikes on people’s spending
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Covid hits women in US workforce – Bowman
Fed governor confident about greater employment opportunities for women, despite inflation headwinds
Norges Bank ups rates by 50bp and signals faster tightening
Inflation is “considerably higher” than projected by the central bank, and well above its 2% target
Netherlands not facing wage-price spiral – DNB
Central bank says there is space to increase negotiated wages in the Dutch economy
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
Romania continues tightening cycle with 75bp rise
Eighth consecutive increase comes as headline inflation passes 15%
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn
Is the US heading for stagflation?
US academics weigh up the risks – and whether the Fed can avoid the worst outcomes
Blanchard and Summers clash with Fed over soft landing
Economists challenge Fed view that fall in vacancies can save US from mass unemployment
Australians can bear rising borrowing costs – RBA deputy
But Michele Bullock warns of greater financial burden for recent homebuyers
Labour supply key to understanding inflation, Shin tells G20
Understanding labour market is critical task for policy-makers, BIS head of research says
Two US regulators fine Bank of America $225m
Country’s second-largest bank unlawfully blocked access to unemployment benefits
Bank Negara Malaysia raises policy rate by 25bp
BNM says it will ensure monetary policy remains accommodative to support economic growth
Williams also expects US to avoid recession this year
Unemployment will likely rise to 4% as growth slows due to tightening process, says NY Fed head
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing
Fed meets inflation surge with 75bp hike
Unexpected spike in inflation and expectations spurs committee into rare policy aggression
Book notes: Two hundred years of muddling through, by Duncan Weldon
Insights into UK economic history offer lessons for today’s policy-makers