Monetary Policy
ECB likely to shy away from AIT in new monetary policy framework
Symmetric 2% target is expected outcome; governing council members struggle to agree on forward guidance
RBA adjusts yield curve control as economy recovers
Australia “no longer looking over a cliff”, says governor Philip Lowe
Seychelles central bank cuts policy rate by 100 basis points
Central bank considers weak economy more a concern than high inflation
BoE paper models impact of ‘active’ fiscal policy
Active fiscal policy complicates monetary policy but can generate higher welfare, author says
NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
Riksbank maintains loose policy
Swedish central bank says it will fully use Skr700 billion portfolio of asset purchases
Haldane says inflation targeting faces its ‘most dangerous moment’
BoE chief economist says risks of inflation and fiscal dominance are both on the rise
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
BIS’s Luiz Pereira on tackling the climate crisis
Deputy general manager highlights the challenge posed by radical uncertainty, the benefits of carbon budgeting, and the case for acting now
Hungarian central bank raises policy rates
MNB says data shows upside risks and pledges to continue bond purchase programmes
ECB’s Panetta: fiscal-monetary co-ordination no danger to independence
Executive board member thinks interaction can be fruitful in attaining inflation goal
Inflation, Fed policy and emerging markets: the good, the bad and the ugly
Steve Kamin explores the global implications of rising inflation and interest rates in the US
Mexican central bank raises rates for first time since 2018
Governing board votes three to two for hike, citing above-target inflation and upside risks
Bank of England holds interest rates and asset purchases
MPC wants evidence spare capacity is being reduced but Haldane votes for lower asset purchases
Czech central bank raises rates by majority vote
Divided board raises rates as inflation nears top of target band
A brick-by-brick guide to inflation
Cleveland Fed uses Lego videos to explain inflation
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
Riksbank publishes analysis on QE
Work aims to add transparency and offer evidence on questions of design and implementation
Armenian central bank raises rates again
Foreign and domestic factors working to push inflation above target, central bank says
Congo central bank lowers policy rate 200bp
Central African country has now largely reversed rate increase from 2020
Demand for Fed’s reverse repo hits new record
FOMC increases interest rates on RRP deposits by 5bp, spurring new demand
Uganda’s central bank cuts rates to historic lows
Uncertainty around the future path of Covid-19 weighs on growth prospects, governor says
Norges Bank signals September rate hike
MPC says economy is rebounding sharply as officials warn of high household debt levels
Brazil’s MPC raises rate and tightens forward guidance
Central bank warns energy crisis and difficulties in restoring supply are boosting inflation