Monetary Policy
Some Fed officials wanted to raise rates in June, minutes show
‘Almost all’ FOMC participants expect to increase the target interest rate this year
Uruguay cuts 50bp as inflation falls
Headline and core readings are lowest for several years, as officials predict slight GDP decline
Mexican MPC members determined to hold rates
All five governing board members agree it is necessary to avoid rate cuts to tame inflation
Is corporate pricing causing ‘greedflation’?
Firms in US and Europe are driving inflation higher by imposing above-cost mark-ups, researchers say
Malaysia’s central bank holds policy rate
Decision comes after headline inflation fell to one-year low but core inflation remains higher
US pandemic savings depleted by Q1 2023, says Fed research
Other advanced economies should expect pandemic-era savings to deplete within the year
Monetary policy staff numbers average below 40
European institutions and advanced economy central banks tend to have highest number of staff
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Inflation targeters tend to pay monetary policy staff more
Salaries tend to rise with GDP per capita but less developed economies pay larger multiples
Cracks open in ECB’s governing council
Italian governor warns against excessive tightening as Bundesbank president insists rates must be higher
Confidentiality of policy votes remains common practice
Proportion of central banks revealing voting information with a lag creeps up
RBA keeps policy rate steady
Decision comes after Australia’s inflation slows in May
ECB expresses concern over draft Belgian laws
Minimum saving account rates could harm financial stability and policy transmission
Monetary policy reports usually published four times annually
Institutions from Africa tend to release fewer publications
Inflation expectations unreliable guide to policy – BoE’s Tenreyro
Policy-makers would be “unwise” to use expectations as an intermediate target, MPC member says
Rates round-up: Colombian central bank holds at 13.25%
Dominican Republic cuts rates, while other central banks in the region stay on hold
Advanced economies most likely to survey trust and understanding
Data shows differences in how central banks judge the effectiveness of monetary policy
Italian and Portuguese leaders criticise ECB policy
Right-wing Meloni and centre-left Costa both sound warning notes on rates
Brazil moves to adopt new targeting regime
National monetary council says it will aim for permanent inflation target from 2025
Kenya hikes 100 basis points at unplanned meeting
New governor says unexpected rise in inflation made rate increase necessary
Treasury officials more likely to serve on advanced economy MPCs
Monetary policy committees or boards comprise 8.2 people on average globally
Riksbank raises rates and signals further tightening
Swedish central bank accelerates government bond sales and is looking to hedge currency risk
Use of asset purchase programmes for monetary policy wanes
Additional central banks end scheme, as more institutions forecast decrease
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent