Monetary Policy
The matter of minutes: Why open up private deliberations?
Many central banks publish records of MPC meetings, but far fewer publish vote tallies. Where should public scrutiny stop?
Polish central bank hikes rates again
NBP says it will continue to act to push inflation back to target
Peruvian central bank orders fifth consecutive rate hike
Board says it may not implement further hikes and above-target inflation is “transitory”
BoJ does not need to tighten policy – deputy governor
Masayoshi Amamiya says Japan is facing a unique inflation situation
Brazilian MPC tightens rates again despite sluggish growth
MPC “foresees another adjustment of the same magnitude” at next meeting
Georgia central bank orders 50bp hike
Central bank raises policy rate to 10.5% as inflation continues rising
Inflation to end year at 60%, Zimbabwe’s central bank says
Unofficial figures have annual inflation above 100%, but governor says monetary policy will keep prices in check
PBoC cuts reserve requirements
But easing measure partially offset by withdrawal of other liquidity support
BEAC raises interest rates
Central African states’ shared central bank imposes first hike in three years
Podcast: Waking up to net zero
BNP’s Jane Ambachtsheer says central banks should not be held solely responsible for achieving net zero, but they have a significant role to play
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
BoE opens sharia-compliant facility after six years of work
‘Wakalah’ liquidity facility designed to address disadvantage faced by Islamic banks
Book notes: Empire of silver, by Jin Xu
A useful introduction to China’s monetary history, focusing on the last 1,000 years, but not the easiest of reads throughout
Monetary policy’s potency may wane over time – BIS paper
Low rates might cause aggregate demand to become less sensitive to monetary stimulus, authors say
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
Has the SNB accepted a stronger franc?
Swiss central bank reduces FX interventions as currency breaks 1.05 ceiling against the euro
Hungary central bank widens rate corridor to create ‘room for manoeuvre’
“Asymmetrical” rate corridor designed to allow central bank to tighten policy quickly
Eurozone inflation hits record high of 4.9%
ECB expected to clarify the future of its stimulus programme on December 16
Kenya’s central bank highlights growth rebound in 2021
Inflation has fallen to 6.5% following government stabilisation efforts to stem fuel prices
Kyrgyzstan raises rates again after lull
Central bank orders 50bp hike amid double-digit inflation
Colombian central bank leaves inflation target unchanged
Rise in inflation is likely to prove transitory, board says, as it sticks to 2% to 4% range
Sri Lankan central bank holds rates despite rising inflation
Authorities face FX crisis as prices increase at fastest level in four years
Zambia raises rates for the first time since 2019
Year-on-year inflation falls but remains well above central bank’s target level