Monetary Policy
Norges Bank says time is not yet right for easing
Central bank holds rates, but suggests cut is likely in March
Central banks’ words matter for climate
Line between EMEs speaking about greening finance and AEs being wary of climate risks are blurring, argues Emanuele Campiglio
PBoC holds key lending rates
Move comes after China hit 5% growth target for 2024, but analysts expect further easing this year
Bank of Korea unexpectedly holds policy rate amid political turmoil
Central bank cites need to assess political developments and incoming US administration’s policies
Bank Indonesia delivers surprise rates cut
Central bank shifts focus from backing rupiah to supporting growth with 25bp easing
ECB presidents’ displays of emotion affect markets – study
Research says leaders’ facial expressions and tones of voice amplify effects of their policy statements
BoJ to discuss whether to raise rates, deputy governor says
Himino Ryozo says policy-makers need to monitor wage growth and future US policies
BoE study suggests policy can affect inflation expectations
However, many households still have theoretically “wrong” idea about effects of tightening
Serbia rules out further easing for now
Central bank says previous rate cuts have yet to make full impact
Moldova makes surprise 200bp hike
Energy prices spur up Moldovan inflation prompting unscheduled meeting
Banxico board uncertain on pace of easing, minutes reveal
Members had differing views on inflation dynamics and effects of tariffs in December meeting
Fed board members pledge caution in cutting rates
Governors say unemployment and inflation risks are roughly in balance
Central banks must be responsive to commodity price swings – BIS
Risk of transitioning to “high-inflation regime” may require more active policy, bulletin says
Bank of Uganda to make rate decisions quarterly
Central bank lowers frequency of policy meetings from six times a year
PBoC vows to cut reserve requirements and interest rates
Officials pledge to keep monetary policy “moderately loose” and support capital markets
ECB set for 100bp of rate cuts by autumn – Greek governor
France is ‘an issue’ and Trump presidency an ‘explosive mix’, says Stournaras
Refinancing at higher rates might not cut consumption – BoE paper
Homeowners’ ability to modify loan terms could weaken monetary policy transmission, study finds
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Turkey makes 250bp cut
MPC narrows rate corridor by 300bp as inflation shows signs of cooling
Unfunded fiscal spending leads to lower real rates – research
Deglobalisation could limit ability of monetary policy to control inflation, says author
Russia pauses tightening, but warns rates will stay high
Central bank governor says inflation expectations are at risk of becoming unanchored