Monetary Policy
Knot eyes first ECB rate hike in Q4 2022
Dutch governor expects eurozone inflation to remain over 4% for much of 2022
Czech central bank hikes rate and forecasts steeper inflation
CNB board says inflation should peak at mid-year but warns of de-anchoring risk
Lesotho raises rates and increases reserves
Central bank increases policy rate 25bp in bid to defend peg and fight inflation
BIS paper highlights money markets’ impact on real economy
Central bank liquidity interventions can prevent large drops in output, authors find
ECB maintains stance but Lagarde hints at hawkish policy turn
Lagarde's press conference remarks seem to differ from policy statement, analysts say
BoE hikes main rate and begins shrinking balance sheet
UK Treasury unveils parallel measures to cushion impact of surging energy prices
Brazilian central bank continues steep tightening cycle
MPC says it aims to slow pace of rate increases but warns fiscal policy is boosting inflation
Record-high eurozone inflation raises pressure on ECB
HICP increased by 5.1%, well above consensus expectation of 4.4%, as energy prices drive up reading
Azerbaijan, Kyrgyzstan and Armenia raise rates
Inflation remains high across region, though falling in these three countries
BIS’s Borio: inflation not yet ‘endemic’ but could become so
There is not yet a deeper shift in the “inflation regime” but it remains a long-term risk, BIS official says
Dominican Republic raises rates 50bp
Central bank promises policy “normalisation” as inflation remains above target
RBA halts asset purchases
Australian central bank maintains interest rates at 0.1%
Central Bank of Colombia steps up tightening cycle
Full percentage point hike comes as both inflation and growth rebound
RBI’s Patra highlights value of bold crisis communications
Central bank usually avoids the “glare of the limelight” but Covid demanded rethink, says Michael Patra
Wunsch sceptical on forward guidance
Belgian governor says tool may be effective in a stable environment of below-target inflation
Wunsch calls for gradual ECB policy tightening
Belgian governor stresses risks posed by prolonged negative rates and QE
BIS paper challenges standard theories of term structure
“Expectation errors”, not term premia, create biased predictions of short-term rate – researchers
Sarb raises rates 25 basis points as inflation rises
MPC votes by four to one for hike, as inflation nears top of target range
Costa Rica orders second consecutive rate hike
Inflation remains within target band but risks “lean to the upside”, board says
Chilean central bank hikes rate more than expected
Central Bank of Chile says inflation and economic activity is rising faster than its forecasts
Pierre Wunsch on inflation, forward guidance and policy tightening
The National Bank of Belgium governor speaks about over-reliance on central bank models and forward guidance, the impact of energy costs and inflation expectations, and the need to unwind unconventional monetary policies
Fed signals time will be right for rate hike ‘soon’
QE set to end in March, with balance sheet to start shrinking after rates rise
Canada removes forward guidance and maintains policy rate
Economic slack was absorbed rapidly in late 2021 and early 2022, bank says
Sri Lanka raises rates as food prices rise sharply
Governor says country does not need IMF aid despite minister warning of potential energy blackout