Monetary Policy
Nigerian parliament lifts central bank financing limit
Central bank has lent government tens of billions as fiscal problems mount
Hank model reveals monetary non-neutrality
Inequality and zero lower bound suggest monetary policy can impact long-term real rates
Carbon pricing would have ‘limited impact’ on eurozone inflation, says paper
Inflation would rise less than 0.2% per year until 2025 and then decline, researchers say
ECB needs ‘persistence’ in tight policy, French governor says
Transmission is slow but rate should reach terminal level in summer, says Villeroy de Galhau
Sarb raises rates and warns of worsening economy
Central bank cuts growth forecast and says long-term inflation expectations are rising
Nigerian MPC continues tightening
Official figures show slight rise in inflation as pressure on currency continues
Central banks should abandon floor systems – BIS’s Borio
Abundant reserves are causing distortions and could hamper policy-making, economist says
Governors weigh trade-offs between inflation and financial stability
Officials stress central bank independence is key to addressing these risks
Iceland raises rates 125bp to head off ‘wage-price spiral’
MPC orders largest increase in two-year tightening cycle as inflation remains near 10%
RBNZ raises rates to peak level
Central bank predicts rates will come down slightly faster than in February forecast
Bank of Israel increases rates by 25bp to 4.75%
Central bank stresses inflation slowed down over the last three months
ECB policy leaks have ‘sizeable impact’
Leaks tend to reflect minority views and reverse trends in short-term rates
PBoC holds key lending rates for ninth straight month
Central bank unlikely to cut rates this year amid yuan weakness, analysts say
Communications Benchmarks 2023 – executive summary
Data reveals comms teams’ structures and strategies, as well as key trends in media usage
EME central banks must keep policies tight, says IMF deputy
Gita Gopinath says “markets are probably too optimistic” about cost of lowering inflation
Bank of Mexico halts tightening cycle
Board says it will be necessary to keep rates unchanged “for an extended period”
IMF approves $3 billion for Ghana
Governor welcomes conditions, including cutting inflation and ending monetary financing
Philippine central bank pauses tightening as inflation eases
Governor Medalla says rate rises seem to have affected domestic demand
Spillovers more widespread than previously thought – Boston Fed
Many central banks cause spillovers besides the Federal Reserve, researcher says
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
Communications Benchmarks 2023 report – engaging with the public
Data reveals comms teams’ structures and strategies, as well as key trends in usage of traditional and social media
Inflation impact of ECB tightening will peak in 2024, says research
Effect on economic activity is faster and will reach highest intensity in 2023
Quantitative tightening and forward guidance need rethink, say economists
Forward guidance removes options to respond to shocks, say academics and experts