Monetary Policy
Fed communication drives house price expectations – NBER paper
Researchers find people’s expectations vary widely and depend on clear explanations
Fed walking a financial stability ‘tightrope’
Experts disagree over US regulators’ use of systemic risk exception for deposit insurance
Peru holds rate at 7.75%
Central bank maintains policy unchanged since January, although inflation remains over target
BoE raises rates 25bp and ditches UK recession forecast
Central bank predicts inflation will stay higher for longer after MPC splits 7–2 on policy hike
Eurozone consumer inflation expectations rose significantly, ECB says
Rise in expectations may bolster arguments for tighter monetary policy
US CPI inflation slows to two-year low
Shelter costs contribute to sticky core inflation, but headline CPI comes in below expectations
Around half of communications staff hold master’s degree or above
Over 40% of staff were hired with a communications degree on average
Eurozone interest rates should increase further, says Nagel
Bundesbank president stresses ECB will start reducing balance sheet at a faster pace from July
Brazil’s president selects ally for central bank board
Lula has repeatedly attacked central bank independence as well as the governor
Riksbank makes mistake publishing policy minutes
Swedish central bank says it takes the incident seriously and will strengthen procedures and controls
Most people visit central banks’ websites via search engines
Clicks on social media platforms drive around 7% of traffic to central banks’ websites
Macro-pru helps dampen global shocks – BIS paper
Authors find capital controls are less effective than prudential tools at offsetting shocks
Most central banks give background briefings on key initiatives to journalists
Practice is dominant across central banks from advanced and emerging economies
Colombia hikes rates in split decision
Meeting was last for finance minister Ocampo, who lost job in reshuffle
Norges Bank increases rates by 25bp
Norwegian central bank says weaker exchange rate may require higher rates than expected
Boosting social media and improving websites top priorities for comms teams
Data suggest central banks’ focus on communicating with the public
ECB slows down tightening with 25bp rate increase
Lagarde insists the governing council is “not pausing” its tightening cycle
Brazilian MPC holds key rate again
Central bank warns of “lingering uncertainty” over future fiscal policy
Russian governor Nabiullina warns of future hikes
Bank will raise rates if structural deficit rises, while labour market is “complicated”, governor says
Communications departments get involved in key policy decisions at varying stages
Early communications involvement in policy decisions raises effectiveness
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
Fed raises rates by 25bp as it chases lower core inflation
Policy-makers still need to “take away the punch bowl”, economist says
ECB expected to slow rate increases to 25bp
Lower energy prices and smoother supply chains allow a gradual tightening process
EME central banks favour social media, AE institutions prefer traditional channels
Central banks actively manage four social media platforms on average