Annual Economic Report 2021 - Statistics associated with the graphs

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Graphs

  
Chapter I: data behind the graphs (xlsx)  
I.1 A large recession, but macroeconomic policy support limited the fallout p 2
I.2 Household income held up and firms kept access to credit p 3
I.3 Scarring was not as large as initially feared p 4
I.4 Banks' profitability declined but capital ratios rose p 5
I.5 Economic conditions remain weaker than before the pandemic p 6
I.6 An uneven recovery p 7
I.7 After falling early in the pandemic, inflation picked up as cost pressures mounted p 8
I.8 Credit markets recovered quickly and equity valuations were rich p 9
I.A Drivers and risks of rising house prices p 10
I.9 Equities rose and the US dollar gained as the reflation trade gathered momentum p 12
I.B Break-evens rose globally as medium-term pressures built in the United States p 13
I.10 The central scenario p 14
I.C Pandexit strategies: roles of vaccination and treatment p 15
I.11 Stronger growth, higher inflation and financial tightening p 18
I.12 Slow and uneven vaccination poses a risk to the recovery p 19
I.13 The outlook for corporate credit losses p 20
I.D Aggregate implications of an uneven recovery p 21
I.14 Higher debt will weigh on investment and reallocation p 22
I.E Credit losses could increase by less than during the GFC, but vary by cash flow assumptions p 24
I.F.1 EME financial variables during selected episodes of rising US bond yields p 47
I.F.2 Stronger current accounts and FX buffers today, but weaker fiscal positions p 28
I.15 Rising debt but debt service cost at historical trough: no reason to worry? p 31
I.G Inflationary effects of deficits vary between economies andpolicy regimes p 32
I.16 How have countries successfully lowered public debt? p 34
Chapter II: data behind the graphs (xlsx)  
II.1   Inequality features prominently in central banks' communication since the GFC p 40
II.2 Inequality on the rise amid declining poverty rates p 41
II.A Long-run changes in pre-tax income and wealth inequality p 42
II.3 Structural forces have pushed up inequality p 43
II.4 Inflation erodes income and wealth of the poorest p 45
II.5 The benefits of keeping inflation under control p 46
II.6 The pandemic hit low-income workers harder p 47
II.7 Higher income inequality leads to steeper declines in consumption p 48
II.8 The long-term effects of recessions p 49
II.9 High inequality mutes the impact of monetary policy on activity p 50
II.C Rising asset prices, but modest changes in wealth inequality p 52
II.10 The changing nature of the business cycle p 54
II.11 Fiscal policy redistributes income p 58
II.E Different fiscal policy tools can shape different parts of the income distribution p 59
Chapter III: data behind the graphs (xlsx)  
III.1   As cash use falls and digital payments rise, CBDC projects are moving ahead p 67
III.2 Current forms of digital payments remain expensive p 68
III.3 Consumers do not trust all counterparties equally to handle their data safely p 69
III.A Two PoCs for settling digital assets in central bank money p 71
III.4 The monetary system with a retail CBDC p 72
III.5 Forms of digital central bank money p 73
III.B Using an application programming interface (API) for a transaction p 74
III.6 Deferred wholesale settlement results in credit for payee's bank p 77
III.7 Retail CBDC architectures and central bank-private sector cooperation p 78
III.8 CBDCs can be designed to have a limited financial system footprint – like cash today p 81
III.9 A broad range of public and private solutions for a digital ID p 83
III.10 Addressing cyber risks and data breaches is key for CBDC design p 84
III.11 Cross-border retail activity is rising, but dollarisation is primarily a trust issue p 86
III.12 Multi-CBDC arrangements can facilitate cross-border payments p 88
III.13 mCBDC models offer an opportunity to improve cross-border payments p 89

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