Monetary Policy
AI can forecast inflation more accurately than professionals – St Louis Fed
Large language models may be powerful tools but have some drawbacks, researchers say
Colombian central bank holds rates for second meeting
Board stresses inflation remains higher than in advanced economies and Latin American neighbours
BoJ unlikely to change policy further this year, analysts say
Central bank needs time to review situation after surprise yield curve move
Malawi raises rates as inflation continues climbing
Russia-Ukraine war and adverse weather events exacerbating food inflation
DeSantis attacks Federal Reserve
Republican candidate suggests he would name new Fed chair
RBA holds policy rate as inflation eases
Lowe says inflation is falling but remains too high
Chilean central bank starts easing cycle with 100bp rate cut
Board says inflation is falling faster than expected and signals further reductions
Turkish governor warns inflation is rising
Erkan says central bank will have to “take very careful steps” as president appoints new deputy governors
BoJ loosens yield curve control, raises inflation forecasts
Ueda says Japanese central bank has been underestimating inflationary pressures
ECB raises rates again but Lagarde says pause is possible
Eurozone banks to receive zero interest on minimum reserves
Costa Rica cuts rates again as inflation turns negative
Strong currency and base effects contribute to unusual readings, central bank board says
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
Fed raises interest rates again after June pause
Powell says FOMC may increase rates again as it faces risks of both inflation and downturn
Bank Indonesia holds again as inflation falls to target level
Governor says central bank is focused on keeping the rupiah stable
Ghana raises rates as inflation rises again
Central bank says reserves are higher and monetary financing has ended as IMF deal requires
‘Supercore inflation’ is a key indicator, Fed paper argues
Non-housing core service prices behaved very differently in 2019 and 2021, researchers say
ECB approaching end of tightening cycle, analysts say
Divisions on governing council are creating communications challenge
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Climate change: a new financial risk for central banks
Overcoming ‘analysis paralysis’ and the lessons in capturing climate-related financial risks on the Deutsche Bundesbank’s balance sheet
Forward guidance loses power when rates rise, RBI research finds
Tool is useful at lower bound but is much less effective during normal conditions, paper argues
Monetary Policy Benchmarks 2023 – executive summary
Key findings of the 2023 benchmark, including policy tools, governance structures and operating frameworks
Turkish central bank raises rates by less than expected
MPC increases rates by 250 basis points but analysts had expected much larger rise
Stronger US dollar hits emerging countries more, says IMF
Credible monetary policy frameworks are key to cushion external shocks, report argues
Russian central bank raises rates and warns of more to come
Nabiullina says inflationary pressures are rising and warns of effects of bigger fiscal deficit