Monetary Policy
Communications Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the ongoing shift to social media and the impact of Covid-19
BoE’s Pill says UK facing strong ‘inflationary momentum’
Latest inflation forecast “does not make for pretty reading”, says chief economist
China cuts key lending rate
Authorities acknowledge “complex and severe environment” as they step up support
Rates round-up: South Africa, Philippines and Egypt hike
Emerging markets tighten policy amid unrelenting inflation
Communications Benchmarks 2022 – opening new channels
Data sheds light on the continued shift to new channels and tools of communication
Mervyn King says central banks made ‘serious errors’ on inflation
Former BoE governor says UK should raise rates further to curb spiralling prices
Fed’s Evans says front-loaded hikes are ‘pretty much in process’
Outgoing Chicago Fed president worries about uneven wage gains
Rates round-up: Uruguay, Tunisia and Serbia tighten policy
Inflation fears prompt more rate hikes from central banks worldwide
Central bankers have lost sight of inflation
Inflation resurgence comes after central bankers were distracted from their primary task by climate and crypto, combined with an overreliance on new Keynesian approaches
BoE officials admit inflationary spiral is a growing risk
Deputy governor says “inflation mentality” could start influencing firms’ pricing decisions
Bernanke says Fed acted too slowly on inflation
Former Fed chair argues forward guidance hampered Fed’s response to rising prices
The green agenda dilemma
Central banks face a choice over whether to support national energy independence or climate goals, amid calls from some parties for higher inflation targets
BIS paper finds sovereign risk key to fiscal-monetary links
Study of Mexico models feedback loop between fiscal and monetary policy
Bank of Mexico hints at tougher measures as it raises rates
Banxico ups inflation expectations while government unveils price-cutting plan
Argentine central bank hikes rates as inflation reaches 30-year high
Central bank makes optimistic comments on inflation path
Peru’s central bank continues sharp monetary tightening
BCRP revises up inflation expectations and hikes reference rate by 50 basis points
Social media ahead of traditional comms for central banks
High income institutions still skewed towards traditional channels
HKMA defends currency on foreign exchange markets
First interventions since 2019 come as Hong Kong central bank props up dollar peg
Central banks use wide array of external comms channels
Institutions employ about 10 media formats on average, and almost all use social media
Lagarde signals first ECB rate hike in July
Nagel stresses risk of acting too late, as Villeroy says fiscal-monetary alignment no longer possible
Rise of fintech strengthens case for capital controls, IMF says
Countries may have to throw “sand in the gears” to protect monetary sovereignty, says Georgieva
Malaysian central bank makes surprise rate rise
Pre-emptive decision designed to stave off inflation
Central bank websites vary greatly in popularity
Some get hundreds of page views per month, while others get millions
Romania meets inflation spike with rate hike
Central bank adds 75bp to policy rate as inflation passes 10% mark and economy sputters