Monetary Policy
Egypt raises policy rate and floats currency
Central bank decisions come as IMF signs preliminary deal for further $3 billion loan
Bank of Russia says Putin’s mobilisation will hit demand
Kazakhstan rates rocket, while Azerbaijan central bank warns about fiscal policy
US consumers may be listening more to Fed comms, researchers say
Consumer expectations becoming more informative and less sticky, survey data suggests
RBA hikes interest rate to nine-year high
Governor Philip Lowe signals more rate rises amid highest inflation in 32 years
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
Colombian central bank increases rates to 11%
Food inflation and demand are stronger than in other Latin American countries, governor says
Brazil’s central bank holds rates and warns of fiscal problems
BCB leaves Selic rate at 13.75%, stressing lower inflation is partly due to subsidies
Costa Rican board says it will slow rate rises
Central bank orders 50bp increase, but says cycle will continue at “lesser rhythm”
BoJ maintains ultra-loose monetary policy
Kuroda says BoJ has no plans to tighten policy soon and warns over risks from weak yen
ECB increases rates by 75bp for second consecutive time
Governing council tightens TLTRO III rates and lowers reserve remuneration
Bank of Canada makes smaller-than-expected rate rise
Macklem says central bank is “getting closer” to end of increases, “but we are not there yet”
Some Latin American central banks pause tightening cycle
Paraguay second to hold rates after Brazil, as Peru and Chile signal they may do the same
Vietnam raises rates for second consecutive month
Move comes after SBV devalued currency against dollar as inflation is close to central bank target
Christopher Sims on modelling the inflation surge
Unprecedented series of shocks creates major challenges for central bank forecasters, the Nobel Prize-winning economist tells Daniel Hinge
Is the ECB taking the right policy path?
Facing an energy supply shock, analysts ponder whether sharp rate increases and QT alone will serve to bring inflation back to target while avoiding a major recession
Belarus’s governor predicts inflation will fall
Government imposed price controls after sanctions helped push inflation into double digits
Pandemic and Ukraine have altered Europe’s inflation dynamics – IMF
Fund stresses policy-makers face tough trade-offs from high inflation and recession risks
Monetary Policy Benchmarks 2022 – presentation
Central Banking’s economics subject matter specialist Daniel Hinge discusses monetary policy after Covid-19
Norges Bank does not expect wage-price spiral, governor says
Wage moderation allows central bank to strike balance between inflation and employment
Argentina holds rates for first time this year
Central bank says core inflation decelerating, but official figures show headline figure rising
Taiwan’s governor says uncertainties are hampering forecasting
Yang says central bank will examine wider range of data to improve inflation estimates
Turkish central bank cuts rate 150bp
MPC may be close to ending cuts as inflation continues soaring
Regional Feds divided on discount rate
New York and San Francisco were dovish compared with counterparts in Minneapolis
St Louis Fed president appeared at private Citigroup event
Media was not invited to October 14 talk by FOMC member Bullard