Monetary Policy
US will take ‘some time’ to decide on CBDC, Powell says
Fed chair says it must act to prevent inflation expectations rising
Central banks will be ‘tested’ by long-term inflation – BIS’s Borio
Persistent inflationary forces could bring central banks into conflict with government, official says
ECB raises rates by 75bp for the first time
Lagarde warns monetary policy will not bring energy prices down
RBA’s Lowe admits inflation models need rethink
Governor acknowledges forecasting mistakes but rejects calls to resign
Malaysian MPC raises interest rate for third successive meeting
BNM says Malaysian economic growth will continue despite growing currency volatility
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
Rates round-up: Canada opts for 75bp raise
Chile surprises with larger hike, while Poland nears peak rates with 25bp increase
ECB expected to deliver first-ever 75bp rate hike
Record-high inflation of 9.1% in August and a weak exchange rate put pressure on divided governing council
BoE policy-makers debate more aggressive tightening
New government and “extreme volatility” in energy markets complicate outlook
ETFs: a gateway to sustainability?
Central banks that prioritise sustainability face a complex investment landscape
Eurozone repo markets are slowing policy transmission, ECB paper says
Dealer banks use market power to get better prices from other institutions
Exchange rate key to policy decisions – Sarb’s Cassim
“What counts as tight” is changing worldwide, forcing central banks to keep up, deputy says
BoE’s Mann presents ‘nuanced’ version of Phillips curve
Drift in medium-term inflation expectations requires more forceful action, policy-maker says
RBA raises interest rate to seven-year high
Governor Philip Lowe acknowledges impact of rate hikes on people’s spending
Curaçao and Sint Maarten raises rates 150bp
Islands track Fed policy as inflation puts pressure on growth, trade balance and reserves
Guatemala and Dominican Republic raise rates
DR says inflation is “moderating” and economy is strong; Guatemala notes second-round effects
New Dallas Fed president says inflation is top priority
Lorie Logan pledges to build relations with local population and work on behalf of community banks
Fed’s QT reaches maximum as critics warn of stability risks
Former RBI governor Rajan and co-authors argue QT may pose risks for financial stability
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
RBA to focus on inflation targeting for 2022–23
Australian central bank changes priority as inflation reaches highest level since 1990s
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation
Hungary raises interest rate to 11.75%
Central bank official cites inflation and dispute over rule of law
Chile renews IMF flexible credit line as risks grow
Months after ending the previous facility, Chile has reactivated it
BoE paper analyses drivers of price setting
Panel data on UK firms reveals asymmetry in how firms decide to raise prices