Monetary Policy
RBA raises interest rate by another 50bp
Governor Philip Lowe says RBA aims to keep the economy on an even keel while bringing inflation back to target
PBoC vows to provide more support for faltering economy
The central bank has not commented on a reported large-scale bail-out plan for developers
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
Turkish business chief criticises central bank as lira falls further
Governor says central bank is working to make Turkish firms use more lira-denominated assets
Rates round-up: Latin American central banks battle persistent inflation
Colombian, Dominican and Nicaraguan central banks hike rates as inflation stays high
Monetary Policy Benchmarks 2022 report – executive summary
Benchmarking data sheds light on some of the key aspects of central bank operating frameworks
Argentina accelerates tightening with 800bp hike
Central bank says it aims to make real rate positive as president reshuffles government
Costa Rica makes largest hike since 2010
Central bank predicts that inflation will not reach its target range until 2024.
Latin America faces challenging conditions, IMF warns
Central banks should focus on driving inflation down to preserve credibility, report says
Ghana seeks IMF aid as reserves dwindle
Government secures Afreximbank loan and MPC holds rate despite inflation nearing 30%
Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg
Hong Kong raises key interest rate by 75 basis points
HKMA chief warns consumers over mortgages as finance chief says housing market is “resilient”
BoJ unlikely to move policy to counter yen weakness
The Bank of Japan is wary of raising rates or even increasing its yield control target to tackle yen depreciation, which it views as being exacerbated by foreign speculators, writes Sayuri Shirai
Fed announces another 75bp rise
Jerome Powell says Fed’s approach to forward guidance will change
Hungarian central bank raises rates again amid EU dispute
MNB downplays role of weakening currency and says external factors are driving inflation
Polish Senate to decide on new MPC member
Opposition parties hold upper house majority and may pick more hawkish rate-setter
Kazakhstan orders 50bp rate rise
Unlike neighbours, Kazakhstan continues tightening with eight hikes since last July
Bank of Russia cuts rates, but Nabiullina warns of volatility
Governor says inflation and currency are volatile, and “geopolitical situation” is creating uncertainty
Paraguay makes 12th consecutive rate hike
Inflation drops slightly, but South American country faces slow growth and severe drought
Denmark raises rates to maintain euro peg
National Bank of Denmark increases rates by 50bp as inflation rises to highest level since 1983
Nepal hikes rates and constricts credit
Himalayan country confronts rising inflation and strained reserves
Sarb orders largest rate rise since 2002
MPC orders 75bp increase as currency weakens and inflation surges
Eurozone debt likely unsustainable without QE – BIS paper
Authors find benefits of ECB’s PEPP extend beyond the end of the bond-buying programme
Markets likely to test ECB’s anti-fragmentation tool
ECB could struggle to avoid political disputes over TPI instrument, some observers warn