Monetary Policy
BoE surprises with rate hold as inflation forecasts reach 5%
Market-implied path for interest rates rises to 1% by end-2022
Poland raises policy rate by 75 basis points
National Bank cites high inflation, which it expects to linger through 2022
Norges Bank aiming for December rate hike
Central bank projects somewhat steeper path of rate hikes among Norway’s trade partners
Fed pulls trigger on taper
Fed begins phasing out QE at initial rate of $15 billion per month
Time to stop handing out the pills: the great QE detox
We are facing a serious inflation threat that will test the resolve of central bankers, writes Jagjit Chadha. Central banks must reduce their reliance on QE. But how?
RBA drops yield curve control
Lowe acknowledges messy market conditions after yields broke free late last week
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
Zimbabwe’s central bank hikes rates to 60%
Resurgent inflation pressures force inflation to 54% while exchange rate weakens
Colombia continues tightening monetary policy
Central bank board unanimous on raising rates, but splits 5–2 on size of increase
Azerbaijan authorities order 50bp hike
Price deregulation and global factors lead list of inflation drivers
BoJ cuts inflation outlook to zero as it holds rates
Producer price inflation in Japan is at a 13-year high, but CPI inflation lingers around zero
Lagarde acknowledges high inflation pressures
ECB keeps stimulus unchanged and insists inflation will decline during 2022
Saudi Arabia boosts Pakistan’s reserves
Package from Saudi development fund comes as Pakistan’s balance of payments issues ease
Brazil makes largest rate hike in decades on fiscal concerns
Inflation continues to grow, as mid-month reading hits 10.3% in October
Bank of Canada ends QE
Inflation proving “stronger and more persistent than expected”
BSP governor sides with ‘team transitory’ as inflation stays high
Philippine inflation averaged 4.5% during the first nine months this year, well above target
Central bank communications ‘after’ Covid
From crisis responses to coping with sudden digitisation, Covid-19 forced central bank comms teams to innovate fast. How much of it will stick?
Kazakhstan continues monetary tightening
National Bank orders third 25bp increase in a row, in line with Russia
Bank of Russia raises rates and inflation forecasts
Nabiullina warns central bank will tighten policy further if above-target inflation persists
Podcast: Paul Fisher on the future of balance sheet policy
Central banks must think about the composition of their balance sheets, the former BoE official says
Paraguay’s MPC hikes rates by 125 basis points
Country follows Chile with unexpectedly large tightening as inflation continues to rise