News in Systemic Risk: Wednesday, January 25, 2023 (10:00 a.m. ET) January 25, 2023 The Cost of Misreading Inflation (Jonathan D. Ostry; International Monetary Fund) Forcasting swap rate volatility with information from swaptions (Amanda Liu and Jinming Xie; Bank for International Settlements) A single monetary policy for heterogeneous labour markets: the case of the euro area (Sandra Gomes, Pascal Jacquinot, and Matija Lozej; European Central Bank) ECB estimates trillions of euros at risk from climate change (Joasia E. Popowicz; Central Banking)