The risk of hitting the zero or effective lower bound (ZLB/ELB) in the future reduces current inflation through the expectations channel, a paper published by the US Federal Reserve finds. Timothy Hills, Taisuke Nakata and…
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Central Bank of Estonia: paper analyses impact of debt repayment problems on consumption Debt repayment issues lead to “substantial” short-term changes in consumption, a working paper published by the Central Bank of Estonia suggests. In…
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US Treasury secretary Janet Yellen had to walk back comments about interest rates on May 4. Speaking at a public event hosted by The Atlantic, Yellen said that stimulus spending “could cause some very modest…
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Richard Clarida, vice-chair of the Federal Reserve Board, revealed he had made previously undisclosed seven-figure equities transactions in the last week of February 2020. Clarida admitted the trades in an amended asset disclosure filed on…
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The Swiss National Bank estimates its 2021 profits rose around 25% relative to 2020, in provisional calculations released today (January 7). The central bank says it expects to register a profit of Sfr26 billion ($28.2…
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The World Economic Forum’s annual Davos meeting has been postponed until the summer of 2021 due to the coronavirus pandemic. In a statement on August 26, WEF spokesman Adrian Monck said health experts had advised…
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The Federal Reserve Board has announced the 2022 chairs and deputy chairs for each of the regional Federal Reserve Banks. The appointments have marginally increased the boards’ ethnic and sex diversity. , Women in class…
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The Bank of Jamaica has declared its central bank digital currency (CBDC) pilot programme a success, setting the stage for a national rollout throughout the first quarter of this year. Jamaica partnered with eCurrency, an…
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The Bank of England’s Clair Mills has urged central banks to “engage” with emerging technology, or risk falling behind the curve. The Prudential Regulation Authority’s (PRA) chief operating officer said the use of regtech to…
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Higher oil prices can significantly dampen the spillover effects of US monetary policy on Gulf economies, a paper published by the International Monetary Fund finds. Olumuyiwa Adedeji and co-authors examine how oil prices affect US…
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