Monetary policy decisions
Peru slows down tightening cycle to 25bp hike
Central bank had implemented 50bp rate increases every month since September 2021
ECB raises rates by 75bp for the first time
Lagarde warns monetary policy will not bring energy prices down
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
Rates round-up: Canada opts for 75bp raise
Chile surprises with larger hike, while Poland nears peak rates with 25bp increase
RBA raises interest rate to seven-year high
Governor Philip Lowe acknowledges impact of rate hikes on people’s spending
Curaçao and Sint Maarten raises rates 150bp
Islands track Fed policy as inflation puts pressure on growth, trade balance and reserves
Guatemala and Dominican Republic raise rates
DR says inflation is “moderating” and economy is strong; Guatemala notes second-round effects
Hungary raises interest rate to 11.75%
Central bank official cites inflation and dispute over rule of law
Bank of Jamaica hints rate rises may be ending
MPC increases policy rate 50bp and says 6% may be “appropriate”
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
RBNZ delivers fourth straight 50bp rate hike
New Zealand’s central bank now expects rate to peak 15bp higher, at 4.1%
Rates round-up: Argentina adds 950bp to main rate
Central banks in Argentina, Peru, Rwanda, Serbia and Uganda tighten policy
China cuts key interest rates as growth weakens
Analysts lower China’s annual GDP growth estimate to around 4%
Bank of Mexico increases interest rates by 75 basis points
Central bank once more revises up inflation projections
Kuwait raises policy rate 25bp
Central bank usually times increases to match FOMC meetings
Thailand raises rates for first time since 2018
Bank of Thailand signals more “gradual and measured” rate increases to come
Moldova raises rates as inflation hits 31.8%
Policy interest rate reaches new record high
Romania continues tightening cycle with 75bp rise
Eighth consecutive increase comes as headline inflation passes 15%
RBI raises rates to tackle ‘uncomfortably high’ inflation
Central bank has been intervening to defend rupee, but governor insists reserves remain ample
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn