Monetary Policy
ECB council divided on forward guidance, minutes show
Some senior officials argued new formulation risks inflation overshooting
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
Central Bank of Iceland raises rates again
Above-target inflation and higher GDP growth justify second rate hike since May, MPC says
Hungarian central bank raises rates for third month running
MPC cautions inflationary pressures remain and forecasts return to target in mid-2022
Paraguay raises rates as start of ‘gradual normalisation’
Country is latest in Latin America to tighten policy, alongside Brazil, Uruguay and Peru
Brazilian minister says Mercosur could have single currency
President has also suggested monetary union with members of trade area
Bank of Israel delays rate hike as Covid-19 cases rise
MPC says it will continue with accommodative policy despite GDP growth and on-target inflation
Fed may taper asset purchases this year, say FOMC minutes
Federal Reserve staff warn US financial system has “notable” vulnerabilities
Norges Bank signals September rate hike
Norweigan central bank stresses long period of low rates increases financial stability risks
New forward guidance is “elemental” for ECB strategy, Lane says
Chief economist implicitly disagrees with Belgian governor’s criticism of new wording
Less chance of “taper tantrum” in emerging markets – Dallas Fed paper
Emerging markets have larger dollar reserves to meet financing disruptions
RBA governor dismisses calls for policy review
Opposition politician criticises central bank for frequently missing inflation target
Covid case halts RBNZ rate hike plans
Central bank had been expected to raise rates but lockdowns signal further uncertainty
Uruguay raises policy rate 50 basis points
Move is first time central bank has raised rates since readopting a policy rate last year
No one monetary policy target optimal – Bank of Canada paper
Flexible inflation targeting one of best performers in “horse race” with other options
IMF urges Bank of Sierra Leone to investigate cash shortages
Recent banknote shipment failed to alleviate shortage, fund says
Green finance and mispricing: what role for central banks and governments?
Governments and central banks cannot stay on the sidelines if they are to fix market mispricing, says Sayuri Shirai
Uganda’s growth unlikely to return to pre-pandemic levels until 2024
Central bank governor says tourism sector has been hit by Covid containment measures
Peru hikes policy rates as inflation exceeds target
Central bank says policy is still expansionary stance as real rates stay at -3.3%
Bank of Mexico continues tightening with split vote
Governor stresses central bank needs to be cautious as inflation rises above target
Malaysian central bank to impose uniform base rate for retail loans
Unified rate will improve monetary policy transmission and consumer transparency – BNM
Turkish central bank holds rates despite pressure from president
Erdoğan said earlier that inflation would fall once rates were cut, but MPC declines to cut
Philippines central bank keeps key rate at record low
Central bank pledges loose policy “for as long as necessary” as Covid-19 cases increase