The past decade has taught the central banking community the important lesson that negative shocks can happen more frequently, and the time between the shocks may not be long enough to let central banks regain policy space.
OECD expects inflationary pressures to ease in the course of 2022-23. As inflation is spreading through various components, central banks must be vigilant and be ready to respond – says Mathias Cormann, the Secretary-General...
Inflation in Britain has remained well under control since the financial crisis. Monetary and government debt management policies have become much more closely connected, and it will be important to loosen the connection while...
Negative interest rates are not so much the effect of discretionary decisions of central banks but are mainly driven by changes in economic conditions. In the past decades real interest rates worldwide have been systematically...
In conditions of a global recession caused by the coronavirus pandemic, massive fiscal deficits and rising public debt levels have become unavoidable. However, the size of those deficits may prove insufficient – also because of...
Gold has once again become a safe haven for investors. However, a return to the gold standard is a scenario that is unlikely to materialize – says Krishan Gopaul, Market Intelligence Analyst at the World Gold Council (WGC).
One of the fundamental issues related to the activity of central banks is the wording and the meaning of their mandates. A thorough examination of these mandates is important and should enable us to assess the validity of the...
The difference in the consumption level in Poland and the EU average is narrowing. Polish incomes are lagging behind other EU member states, but the prices are also much lower. However, Romania is catching up with the more...
We should not compare today’s crisis to the previous one, says Paul Tucker, former Deputy Governor of Bank of England. And what central banks are doing is, according to him, not business as usual but they have a reason: a...
As Covid-19 spreads, causing more countries to take counter-measures, Central and Southeast Europe is no exception. ING’s latest report said that collectively it is downgrading the 2020 GDP outlook on the back of virus fears.