Monetary Policy
Tactical and strategic ETF use in reserves
Panellists discuss liquidity, oversight and risk management frameworks around using ETFs to diversify portfolios at a Central Banking roundtable discussion, in collaboration with Invesco
Opportunities to diversify with ETFs now and looking forward
Matthew Tagliani, exchange-traded fund (ETF) head of product and sales strategy, Emea at Invesco, explores the diversification impacts ETFs can have on central banks’ portfolios
Powell promises ‘forceful’ action to reduce inflation
Fed chair warns against premature loosening and says cutting inflation “will take some time”
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Korean MPC tightens policy again and raises inflation forecast
Governor says central bank likely to continue with 25bp hikes as core inflation rises
Inflation targeting’s time may be over, Adam Posen says
Posen says changes to global economy may necessitate complete rethinking of monetary policy
Bank of Israel raises rates by largest amount since 2002
MPC says short-term inflation expectations have fallen, but warns of faster increases in house prices
Bank Indonesia raises interest rates for first time in three years
Governor says decision is “pre-emptive” after inflation reaches a seven-year high
Book notes: Can’t we just print more money?, by Rupal Patel and Jack Meaning
A genuinely readable but non-neutral introduction to economics
PBoC cuts key lending rates
Move follows unscheduled cut to two other rates after official data showed growing slowdown
Bank of Jamaica hints rate rises may be ending
MPC increases policy rate 50bp and says 6% may be “appropriate”
Glapiński accuses Germany of wanting to redraw land borders
Polish governor warns on plans for EU super-state as German foreign office calls claims “absurd”
Uruguay continues policy tightening
Policy-makers say inflation and expectations are stubbornly high
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
Ghana emergency MPC meeting ends with 300bp increase
Country in renewed IMF talks as inflation spirals and currency falters
Philippine central bank raises policy rates by 50bp
The BSP revises upwards average inflation for 2022 to 5.4% from 5%
Norges Bank ups rates by 50bp and signals faster tightening
Inflation is “considerably higher” than projected by the central bank, and well above its 2% target
Is money growth really the main inflation culprit?
Jakob de Haan and Jan-Egbert Sturm take a closer look at inflation in the eurozone and Switzerland
RBNZ delivers fourth straight 50bp rate hike
New Zealand’s central bank now expects rate to peak 15bp higher, at 4.1%
US academics praise reduction in Fed’s forward guidance
Central bank seeking to keep its options open on the path for monetary policy
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
ECB rate hikes could damage climate change policies, paper finds
Researchers claim tighter financing conditions will hamper transition to capital-intensive green technologies