Monetary Policy
BoE’s Dhingra says restrictive policy risks ‘scarring’ economy
MPC member warns that focusing on pay and services inflation could lead to “overtightening”
South Korean and Indonesian central banks hold rates
BoK says policy will remain restrictive for now, while BI highlights need to keep inflation stable
Carbon price has only ‘modest’ impact on inflation – IMF paper
Countries could use drop in energy prices to deliver on climate goals, authors say
Thai PM calls for emergency central bank meeting to cut rates
BoT governor appears unswayed by call for monetary policy committee to meet ahead of schedule
China makes record cut to mortgage reference rate
PBoC unveils 25bp reduction in five-year LPR in further bid to revive flagging property sector
Nigerian president nominates seven MPC members
Central bank tightens currency restrictions as inflation continues to rise and dollar shortages continue
PBoC holds key rate
China’s central bank refrains from further stimulus amid weak yuan
Philippine central bank holds rates
BSP warns against upside risks, despite receding inflation
ECB policy has been effective in credit markets, paper finds
Bank of Estonia research examines loan availability in eurozone from 2005 to 2022
Monetary policy shocks ‘amplified by financial integration’
Expansionary policy in one country leads to contraction in another, BoC researchers find
Eurozone’s reserve-rich banks less sensitive to rate hikes, paper finds
Higher reserves meant some banks kept lending after rates rose, Bundesbank paper says
Eurozone rate cut is ‘fast approaching’, says Panetta
Bank of Italy governor warns that delaying looser policy could lead to financial instability
Central banks can be ‘too cautious’ with policy, BdF paper says
Timid responses to price shocks may increase inflation expectations, researchers argue
The BoJ’s possible path to positive rates
Are market expectations about a spring shift from negative Japanese rates credible, asks Sayuri Shirai
Mexican central bank holds rates again
Board says inflation should fall to 3% target in medium term despite recent rises
BoE’s focus has shifted from tightening, says deputy governor
Inflation “moving in right direction” but trends still need to be monitored, Breeden says
Bank of Thailand holds policy rate despite government pressure
Decision comes after prime minister called for cut
Fed does not need to evaluate ‘last mile’ of inflation differently
Atlanta Fed economist says overly aggressive approach could trigger hard landing in US economy
Reserve Bank of Australia holds policy rate
Central bank has not ruled out further hikes while inflation eases
Training central bank communicators
The skills needed for communicating in a social media and artificial intelligence world
Turkish president appoints ‘hawk’ as governor
Former NY Fed official Karahan has been strong supporter of monetary tightening, observers say
Riksbank holds rate and signals earlier cuts
Risks including supply shocks due to ‘geopolitical unease’ remain
Fed holds rates and dampens expectations of March cuts
Powell says FOMC is unlikely to agree on early loosening but rates are likely at their peak
BoE holds rates and cuts 2024 growth forecast to 0%
‘More evidence’ needed before cuts, though bank expects inflation to reach 2% by 2026