Monetary Policy
ECB’s Panetta: fiscal-monetary co-ordination no danger to independence
Executive board member thinks interaction can be fruitful in attaining inflation goal
Inflation, Fed policy and emerging markets: the good, the bad and the ugly
Steve Kamin explores the global implications of rising inflation and interest rates in the US
Mexican central bank raises rates for first time since 2018
Governing board votes three to two for hike, citing above-target inflation and upside risks
Bank of England holds interest rates and asset purchases
MPC wants evidence spare capacity is being reduced but Haldane votes for lower asset purchases
Czech central bank raises rates by majority vote
Divided board raises rates as inflation nears top of target band
A brick-by-brick guide to inflation
Cleveland Fed uses Lego videos to explain inflation
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
Riksbank publishes analysis on QE
Work aims to add transparency and offer evidence on questions of design and implementation
Armenian central bank raises rates again
Foreign and domestic factors working to push inflation above target, central bank says
Congo central bank lowers policy rate 200bp
Central African country has now largely reversed rate increase from 2020
Demand for Fed’s reverse repo hits new record
FOMC increases interest rates on RRP deposits by 5bp, spurring new demand
Uganda’s central bank cuts rates to historic lows
Uncertainty around the future path of Covid-19 weighs on growth prospects, governor says
Norges Bank signals September rate hike
MPC says economy is rebounding sharply as officials warn of high household debt levels
Brazil’s MPC raises rate and tightens forward guidance
Central bank warns energy crisis and difficulties in restoring supply are boosting inflation
It’s time to smash Iran’s endemic inflation
As Iran goes to the polls, high inflation is still plaguing the economy. Steve Hanke looks at solutions
Powell says US is recovering faster than expected
Majority of FOMC members now expect policy rate hike in 2023, with no decision yet on taper
Monetary policy must be climate-friendly, Bank of Ghana official says
It is ‘paramount’ for central banks to incorporate climate risks into monetary policy, official says
ECB could tilt bond purchases to favour greener companies – Schnabel
But sovereign bond purchases must overcome scarcity of green bonds and limits imposed by capital key
Multiple expectations test communications
The Reserve Bank of New Zealand’s communications are being tested, and some recent exchanges have been combative, says Mike Hannah
Russian central bank raises policy rate again amid rising pressures
Nabiullina says recovery is surging past central bank’s projections but that inflation will fall
Central banks will need new tools if low rates persist – Rogoff
Governments must clamp down on crypto assets while central banks develop CBDCs, economist says
Lagarde declines to give date for taper
Austrian governor immediately contradicts ECB chief, suggesting divisions on council
Transparency is essential for financial stability – Georgia’s Gvenetadze
But it is still possible to be “too transparent”, governor warns
Spanish governor favours green monetary policy
Hernández de Cos stresses ECB should account for climate risks in its price stability mandate