Monetary Policy
Inflation battles often last more than five years, IMF paper says
Disinflations usually do not need prolonged falls in output, employment or wages
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
Bank of Russia raises rates as Nabiullina warns over currency
Weaker ruble, higher demand and rising expectations are all driving inflation, governor says
PBoC cuts reserve requirement ratio but holds policy rate
Data shows some improvement in demand but continuing property sector problems
Tight monetary policy can scar economy, SF Fed research finds
Central banks may not be able to undo effects on productivity and potential output, paper says
Peru’s central bank makes first rate cut since pandemic
Central bank joins Brazil and Chile in easing policy as inflation falls
Basel Committee will look at interest rate risk and liquidity reforms
Pablo Hernández de Cos says more analysis needed on minimum capital for interest rate risk
New Zealand finance minister defends dual mandate
Robertson rejects calls for changed mandate and new regulator ahead of general election
Ukrainian central bank carries out second wartime rate cut
Sustained fall in inflation is likely to continue as food supply improves, NBU says
ECB raises rates to all-time high of 4%
Lagarde says “solid majority” supported raise but says some members opposed it
Armenia and Georgia cut policy rates
Georgia says domestic inflationary pressures are strong, while Armenia expects gradual rise
Momentum builds to end RBNZ dual mandate
Think-tank calls for abolishing deposit insurance and creating new prudential regulator
Inflation revisions are significant, finds NY Fed research
Understanding inflation in real time poses major difficulties, researchers say
Polish opposition accuses governor of bias over rate cut
Zloty falls after sharp rate cut as opposition accuses Glapiński of helping goverment
Ueda says BoJ could end negative rates soon
Governor says it is “not impossible” that data will be strong enough by end of this year
West African central bank raises rates as crises continue
Authorities cite “rising uncertainties at regional level” and reduced aid after wave of coups
Philippine central bank shifts to variable rate repo auction
BSP says move will improve policy transmission but does not change its policy stance
UK nearing top of rate cycle, Bailey says
MPC member Swati Dhingra says producer prices could herald rapid decline in headline figure
Freeland welcomes Bank of Canada rate pause
Finance minister qualifies statement as other politicians attack monetary policy
RBA’s Lowe defends record, but admits some mistakes
Outgoing Australian governor says guidance was wrong but that media worsened policy debate
Fed officials signal slowing tightening cycle
Bostic and Harker indicate policy is restrictive enough to bring inflation to 2%
Bank of Canada holds rates steady amid political pressure
Regional heads send letter to governor Macklem calling for an end to rate hikes
Colombian government and private sector issue joint call for cuts
Finance minister talks of “economic deceleration”, but inflation is still in double digits