Central-Banks
SNB & CHF: The Swiss National Bank and Swiss Franc Blog
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The Swiss National Bank Now Owns $87.5 Billion In US Stocks After Q2 Tech Buying Spree
In the second quarter of 2018, one in which the global economy was shaken by the rapid escalation of Trump’s trade war, and in which central banks were one after another hinting at their own QE tapering and rate hiking intentions to follow in the Fed’s footsteps, what was really taking place was another central bank buying spree meant to boost confidence that things are now back to normal, using “money” that was freshly printed out of thin...
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SNB reports a profit of CHF 5.1 billion for the first half of 2018
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Swiss franc’s defensive features likely to come back into fashion
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Federal Council appoints Martin Schlegel as new Alternate Member of the SNB Governing Board
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Ueli Maurer hat recht: Der Erste, der einsieht, dass die SNB sich hoffnungslos verrannt hat
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Banks in Switzerland 2017, Results from the Swiss National Bank’s data collection
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Buying more time
FRED
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Has wage growth been slower than normal in the current business cycle?
[embedded content] You may have read in the popular press that wage growth seems much slower since the Great Recession compared with previous business cycles. Let’s see what FRED data can tell us. The graph above shows wage growth, defined as the annualized percentage change in the average hourly earnings of private production and nonsupervisory employees. To interpret the graph, note the gray bars, which indicate recessions since 1976, and...
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Corporate profits versus labor income : Risk and reward versus slow and steady
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Is there a skills gap in the South? : Mapping education and unemployment across the U.S.
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Alternative money for transactions : What if gold or Bitcoin replaced the dollar?
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The components of GDP growth : What’s driving the second quarter’s 4.1% gain?
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Is the little house on the prairie getting even smaller? : The downward trend of U.S. farm income
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Clocking the sales of cars and homes : Stalled in the Great Recession, sales are speedy today
Bank Of Japan
Swiss National Bank News
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2018-08-14 – Statistics – IMF Special Data Dissemination Standard (SNB Data), 14 August 2018
Download PDF
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2018-08-13 – Press release – Important monetary policy data for the week ending 10 August 2018
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2018-08-07 – Statistics – IMF Special Data Dissemination Standard (SNB Data), 7 August 2018
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2018-08-06 – Press release – Important monetary policy data for the week ending 3 August 2018
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2018-07-31 – Statistics – IMF Special Data Dissemination Standard (SNB Data), 31 July 2018
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2018-07-31 – Press release – Interim results of the Swiss National Bank as at 30 June 2018
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2018-07-30 – Press release – Important monetary policy data for the week ending 27 July 2018
Atlanta Fed
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Immigration and Hispanics’ Educational Attainment
« Are Tariff Worries Cutting into Business Investment? | Main In a previous macroblog post, Whitney Mancuso and I wrote about the improved labor market outcomes for workers with the least amount of formal education. We attributed this improvement mostly to ...
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Are Tariff Worries Cutting into Business Investment?
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Improving Labor Market Fortunes for Workers with the Least Schooling
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Part-Time Workers Are Less Likely to Get a Pay Raise
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Learning about an ML-Driven Economy
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Hitting a Cyclical High: The Wage Growth Premium from Changing Jobs
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Site Maintenance
RBA
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Bilateral Local Currency Swap Agreement with Bank Indonesia
The Reserve Bank of Australia and Bank Indonesia have come to an agreement to renew their Bilateral Local Currency Swap Agreement, which is due to expire in December 2018. As with the existing facility, the agreement will span a period of three years and allow for the exchange of local currencies between the two central banks of up to A$10 billion or IDR 100 trillion. The agreement...
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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Roundtable on Innovations in Small Business Finance
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Statement by Philip Lowe, Governor: Monetary Policy Decision
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ASIC and RBA Welcome the New BBSW Calculation Methodology
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Payments System Board Update: May 2018 Meeting
iMFdirect
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Chart of the Week: A Bumpy Road Ahead for Electric Cars
By Christian Bogmans and Lama Kiyasseh August 13, 2018 Versions in 中文, 日本語, Русский Electric car charging station in Berlin, Germany: prices for lithium and cobalt—key ingredients in rechargeable batteries—are rising due limited supply and growing demand for electric cars (photo: Jens Kalaene/Newscom) The surge in demand for electric cars has been fueled in part by the falling costs of lithium-ion batteries—driven by technological...
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The Long-Term Impact of Brexit on the European Union
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Chart of the Week: Equal Pay Remains a Global Issue
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Trade and Remittances Within Africa
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Chart of the Week: The Spread of Ideas and Innovation
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5 Things You Need to Know About the IMF and the Sustainable Development Goals
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Chart of the Week: Top 5 Charts
JP Koning: Moneyness
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Tainted money
In many parts of the world, cash held in ATMs or in cash-in-transit vehicles is protected by so-called intelligent banknote neutralization technology. When a thief tries to force the ATM open, plastic packs filled with dye explode, spraying both the thief and the banknotes. These notes have now been demarcated as stolen. A shopkeeper may refuse to accept marked notes or may only accept them at a large discount to their face value. At this...
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The €300 million cash withdrawal
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Failed monetary technology
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Evading the next Iranian monetary blockade
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Ethereum is full of ponzis, is that a problem?
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A tax, not a ban, on high denomination banknotes
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A case for bitcoin
Impact Evaluations
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Development Impact is taking a break for August!
Dear readers: We are taking a break for August, but we'll back in September with more posts on new methods, new evidence, and new data in the world of impact evaluations. See you soon! Best, The Development Impact Team PS We may post an occasional set of links if we get antsy.
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“If I can’t do an impact evaluation, what should I do?” – A Review of Gugerty and Karlan’s The Goldilocks Challenge: Right-Fit Evidence for the Social Sector
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Weekly links July 27: Advances in RD, better measurement, lowering prices for poop removal, and more…
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More on Experimenter Demand Effects
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Assessing the Severity of Experimenter Demand/Social Desirability Effects
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Friday Links: July 20th. Rethinking big numbers, visualizing data, and more
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Are we over-investing in baselines?
Amol Agrawal: Mostly Economics
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India vs Indonesia: Comparing the two economies
Interesting piece by Rajeev Malik. It is always useful to compare economies as it helps get a better picture (could also be a case of comparing apple with an orange). Both India and Indonesia elected leaders in 2014 amidst new hope and change: India and Indonesia experienced positive tectonic political change in their national elections in 2014. The actual delivery by Prime Minister Narendra Modi in India and President Joko Widodo (“Jokowi”)...
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How a Swiss bank was toppled by a financial scandal in Malaysia – and what can be learned from it
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Heat: the next big inequality issue
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Politicization and compromising integrity of official macroeconomics statistics: Lessons from Greece
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Aadhaar must to buy Mysore Silk saris during sale in Karnataka
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What will the financial world look like in 2028?
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Why the Bank of England Should Target Growth
David Andolfatto: Macro Mania
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The Trust Machine: The Story of Bitcoin
I came across a presentation of Bitcoin the other day called The Trust Machine: The Story of Bitcoin. I thought it was very nice and I encourage anyone who's interested in Bitcoin to view it (less than 25 minutes). What I offer below are questions and comments that came to my mind as I listened to the narrative. I'd recommend listening to the entire presentation first and then reading my comments below. The bold numbers represent the...
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Inflation and Unemployment (Part 2)
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Inflation and unemployment
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What anchors inflation?
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The recession of 2012-13 and the taper tantrum
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U.S. GDP Expenditure Components
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Fiscal theories of the price-level
Stephen Williamson: New Monetarist Economics
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Fed’s Portfolio Manager Says Not to Worry
I ran across an interesting talk by Simon Potter, who is responsible for the System Open Market Account at the New York Fed. Potter is a powerful person in the Fed system, as he looks after the specifics of monetary policy implementation. His talk addresses issues that I discussed in this previous blog post.The first order of business in the talk is the phasing out of the Fed's reinvestment policy. Recall that, after the buildup in the Fed's...
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Should You Be As Excited About GDP Growth As Donald Trump Claims to Be?
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Don’t Fear the Inversion – It’s the Short Rate That Kills You
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Fed Balance Sheet Policy, and Treasury Debt Management
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Fed Balance Sheet News
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Jawboning Makes a Comeback
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What Does “Serious” Mean?
ECB Press Releases
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ECB seeks feedback on draft ECB Regulation on money market statistics
PRESS RELEASE6 August 2018Amending Regulation aims to simplify reporting scheme and improve quality of euro money market statistics reported to European System of Central Banks (ESCB)ECB asks for feedback by 10 September 2018The European Central Bank (ECB) has been collecting data on the euro money market since 1 July 2016 on the basis of Regulation ECB/2014/48 concerning statistics on the money markets: the Money Market Statistical Reporting...
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Sabine Lautenschläger: Interview with Welt am Sonntag
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Euro banknote counterfeiting remained low in first half of 2018
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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
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Results of the Q3 2018 ECB Survey of Professional Forecasters
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Results of the June 2018 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)
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Mario Draghi, Luis de Guindos: Introductory statement to the press conference (with Q&A)
Tony Yates: Long and Variable
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Was poor post crisis macro performance all central banks’ fault?
Martin Sandbu’s column excoriates central banks for post financial crisis macroeconomic performance. He is right about a lot of things, so I am sure – and hope – his broadside is taken seriously. But I don’t think he is right about this. Martin’s piece fills a vacuum left by central banks and their finance ministry sponsors. [What? I hear you thinking.] Central banks themselves ought to be routinely, even institutionally reviewed. Stephen...
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How big a deal is No Deal? We have no idea.
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Philip Lane should not be making comments on Irish tax policy
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New Statesman post on Labour’s 3% target for the BoE
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Times article on capitalism
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2% wasn’t an ‘arbitrary number’ Neel
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UK’s MPC vote. Does going from 7-2 to 6-3 mean a hike is coming sooner than we thought?
Bank of Canada
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Bank of Canada publishes its 2019 schedule for policy interest rate announcements, the release of the Monetary Policy Report, the Business Outlook Survey and the Senior Loan Officer Survey
FOR IMMEDIATE RELEASE Available as: PDF The Bank of Canada today published its 2019 schedule for policy interest rate announcements and the release of the quarterly Monetary Policy Report, and reconfirmed the scheduled interest rate announcement dates for the remainder of this year....
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Process for selecting a Deputy Governor of the Bank of Canada
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Monetary Policy Report Press Conference Opening Statement
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Bank of Canada raises overnight rate target to 1 ½ per cent
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Monetary Policy Report – July 2018
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Business Outlook Survey – Summer 2018
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Senior Loan Officer Survey—Second Quarter of 2018
New York Fed
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Just Released: Cleaning Up Collections
Andrew Haughwout, Donghoon Lee, Joelle Scally, and Wilbert van der Klaauw Household debt balances continued their upward trend in the second quarter, with increases in mortgage, auto, and credit card balances, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. Student loans were roughly flat, a typical seasonal pattern in the second quarter. The Quarterly...
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Do Import Tariffs Help Reduce Trade Deficits?
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Opening the Toolbox: The Nowcasting Code on GitHub
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How Do the Fed’s MBS Holdings Affect the Economy?
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How Do the Fed’s MBS Purchases Affect Credit Allocation?
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At the New York Fed: Thirteenth Annual Joint Conference with NYU-Stern on Financial Intermediation
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The Transatlantic Economy Ten Years after the Crisis: Macro-Financial Scenarios and Policy Responses
RBNZ
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Bank of China registered as a bank
Release date 29 March 2018 The Reserve Bank today registered Bank of China to provide banking services in New Zealand. Bank of China Limited is incorporated in the People’s Republic of China and will operate in New Zealand as a branch. A New Zealand subsidiary of the Bank of China, Bank of China (New Zealand) Limited, has been registered to provide banking services in New Zealand since November 2014. There are now 26 registered...
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New PTA requires Reserve Bank to consider employment alongside price stability mandate
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An interview with Atif Mian of Princeton University
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Official Cash Rate unchanged at 1.75 percent
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RBNZ Governor supports macro-prudential policy
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New appointment to Reserve Bank board
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CBL Insurance Limited interim liquidation
Bank of International Settlement
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Analysis of Central Clearing Interdependencies
CPMI Papers | No 181 | 09 August 2018 PDF full text (1,128kb) | 34 pages This report by the Financial Stability Board, the Committee on Payments and Market Infrastructures, the International Organization of Securities Commissions and the Basel Committee on Banking Supervision maps interdependencies...
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Incentives to centrally clear over-the-counter (OTC) derivatives – A post-implementation evaluation of the effects of the G20 financial regulatory reforms
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Implementation monitoring of PFMI: Level 2 assessment report for Canada
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The role of household debt heterogeneity on consumption: Evidence from Japanese household data
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Implementation monitoring of PFMI: Fifth update to Level 1 assessment report
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Gauging procyclicality and financial vulnerability in Asia through the BIS banking and financial statistics
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Survey on the interaction of regulatory instruments: results and analysis
FT Money Supply
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Money Supply 2014-07-29 13:41:38
This blog will no longer be updated. Our thoughts on all things central banking, along with the more wonkish elements of economic policy, will appear on Alphaville and The World blog. Thank you for reading. You can keep in touch using our author alerts and twitter.
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ECB caught up in economists’ spat
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TLTRO: how well has the ECB targeted its loans?
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Live blog: Mario Draghi’s monthly ECB press conference
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Japan’s inflation expectations: glass half empty?
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Carney’s (old) new normal
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ECB’s Cœuré backs student calls to overhaul economics curriculum