Monthly Archives: June 2023
Leading indicator for UK goods inflation
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One of the leading indicators Bank of England (BoE) uses to predict the future direction of goods inflation is the manufacturing producer price index (PPI) growth rate. The close relation, however, has broken down in the past year.
Bank of England raises interest rate by 0.5%—notes on the Bank’s decision
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Bank of England on Thursday decided to raise its benchmark interest rate by 0.5% to 5%, larger than the market expectation of a 0.25% increase. The decision followed Office of Nation Statistics' publication of a 8.7% CPI inflation reading for the year to May on Wednesday.
Economic benefit of asset market bubble
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What the impact of asset price bubbles on US economic growth is.
BoE to run system-wide evaluation on financial system including non-banks
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Bank of England will conduct a system-wide exploratory scenario (SWES) exercise on the UK financial markets to see how well both banks and non-bank financial institutions can handle stress market conditions.
Why Fed projects to cut rates next year even it expects failure to reach inflation target for 2 more years?
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Inflation projections by Fed officials show that PCE inflation will not reach 2% by the end of 2025. Why the Fed expects to cut rate next year then?
US gains 339,000 jobs while unemployment rate rises to 3.7%
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Employers in the US added 339,000 jobs in May, but at the same time 440,000 more people reported they were unemployed
Eurozone inflation drops to 6.1% in May, lower than expected
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Annual consumer prices in the Eurozone rose by 6.1% YoY in May, down from 7% in April.
UK house prices continue to fall in May, Nationwide reports
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UK average property prices were 3.4% lower compared to the previous year, accelerating the annual fall of 2.7% in April.
Global Economy
Interviews
Global Inequality and Kuznets Waves | Q&A with Branko Milanovic |
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Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?”“Where is the General Theory of the...
Politics and the Economics of Banking Crises | Q&A with Charles Calomiris |
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In this installment, we continue our discussion with Prof. Charles Calomiris, Henry Kaufman Professor of Financial Institutions at Columbia Business School. The topic of this installment is the missing role of politics in economics models of banking crises. We also discussed if Calomiris thinks macroeconomics has a similar problem.
How to use Interest on Reserve for Inflation Targeting? | Q&A with Ricardo Reis...
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This is the eighth installment of our interview series “Where is the General Theory of the 21st Century?”In this installment, we continue our talk...
Why the Fed should Keep a Sizeable Balance Sheet? | Q&A with Jeremy...
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Jeremy Stein, former Federal Reserve governor, talks to us about his recent research “The Federal Reserve's Balance Sheet as a Financial-Stability Tool” and why the Fed should maintain a sizeable balance sheet.