Monetary Policy
US jobs report comes in hot
San Francisco Fed president says the number is unsurprising
Rates round-up: Zimbabwe cuts policy rate to 150%
Azerbaijan raises rates 25bp; Qatar bucks Gulf trend; and more
Brazilian president questions central bank autonomy
Lula reiterates objections to current inflation target after central bank holds rates
BoJ deputy governor warns against more yield curve tweaks
Masazumi Wakatabe says further policy changes could undermine stimulus efforts
Brazil continues to hold rates despite president’s objections
Former governor says president’s speech reduced chance of bank loosening policy
BoE tightens by 50bp as inflation set for sharp fall
Forecasts imply Brexit, pandemic and energy prices will cause long period of weak productivity
Fed slows tightening cycle again with 25bp rate rise
More rate hikes likely as Powell expresses concern over expectations “getting unanchored”
Bank of Ghana adds 100bp as crises grind on
IMF reportedly wants end to central bank financing
Colombia says tightening cycle may be nearing end
Central bank board splits 5–2 on 75bp rate hike
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs
Canadian governor rules out early rate cuts
Macklem says bar for rate rises has risen and he cannot rule out “mild recession”
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Fed rate-setters differ over US labour pressures
Waller says labour market is tight, but Brainard says no sign of overall wage pressure
Brazilian ex-deputy governor says inflation target too low
Mandatory public spending means Brazil will have higher inflation than its peers
New Zealand opposition leader says he would end dual mandate
National Party chief says he will drop employment target and tell RBNZ to concentrate on inflation
BoJ should consider ending yield curve control – IMF
Fund warns inflation risks could force central bank to take “much stronger” action
Rates round-up: Canada to pause after 25bp rate rise
Thailand ups 25bp; Nigeria increases sharply; Angola opts for cut; and more
Pakistan raises rates 100bp amid reserves crisis
Reserves now only enough to cover about three weeks of imports
Colombia finance minister says no more rate hikes needed
Ocampo says December inflation figure of 13.1% was the peak level
Malaysian central bank holds rates while Indonesia hikes again
Both countries report marginal rises in inflation and BNM warns of global growth slowdown
“Make-up” strategies may boost monetary policy, says paper
Price-level and average inflation targeting regimes stabilise import-related inflation, researchers find
Monetary tightening has ‘rapid’ effect on spending – BIS paper
Study finds conventional policy tools have bigger impact on consumption than unconventional ones
Bank of Japan defies expectations of yield curve change
Governor says it will take time for last month’s yield curve tweak to play out