Christine Lagarde
Rate rises reveal defi weaknesses – Powell
Regulating algorithms highlighted as key crypto challenge at Banque de France conference
ECB raises rates by 75bp for the first time
Lagarde warns monetary policy will not bring energy prices down
ECB expected to deliver first-ever 75bp rate hike
Record-high inflation of 9.1% in August and a weak exchange rate put pressure on divided governing council
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Markets likely to test ECB’s anti-fragmentation tool
ECB could struggle to avoid political disputes over TPI instrument, some observers warn
ECB surprises markets with a 50bp rate hike
Central bank unveils new instrument to prevent sharp increases in sovereign bond spreads
ECB readies first hike since 2011 as it faces policy ‘trilemma’
Central bank may be forced to choose two options among price stability, fragmentation risk and market functioning
ECB introduces green asset policy
Moves aim to “gradually decarbonise” Eurosystem’s bond holdings, ECB says
Top central bankers admit inflation models fell short
Reliance on Phillips curve and demand-driven models may have created blind spots
ECB emergency meeting pledges sovereign bond support
Governing council says eurozone will accelerate efforts to create “anti-fragmentation mechanism”
ECB announces 25bp rate raise and QE slowdown for July
September increase may be steeper, as ECB forecasts higher inflation and lower growth
Global climate standards ‘badly needed’ but elusive, say central bankers
“I am not sure we are going to get there,” ECB president says
Is this the end for ECB QE?
High inflation makes it increasingly difficult for the central bank to justify asset purchases across the eurozone, despite rising fragmentation risks
Lagarde says ECB likely to abandon negative rates in September
Central bank would need to confirm end to asset purchases in June, and hike in July and September
Lagarde signals first ECB rate hike in July
Nagel stresses risk of acting too late, as Villeroy says fiscal-monetary alignment no longer possible
ECB officials change to more hawkish tone
Schnabel and Villeroy de Galhau signal openness to July hike while Lane and Panetta stay cautious
How high can the ECB take interest rates?
Despite rising inflation, eurozone central bank is seen as unlikely to take rates over 1.5% in coming years
Lagarde sees risks in ‘new global map of economic relations’
ECB president says fragmentation through “friend-shoring” and regionalisation is rising
Climate change, invasion, recession: policy-makers flag mounting risks
Christine Lagarde and Jerome Powell discuss “ripple effects” of war in Ukraine, while the Barbadian prime minister highlights need for reform at global institutions
ECB sticks to plan of gradual policy normalisation
Lagarde says net asset purchases should finish in the third quarter of the year
ECB expected to pause amid uncertain impact of war
Governing council could discuss QE backstop to prevent wider sovereign bond spreads
Is a bond market crisis imminent?
Central banks need careful action and a good dose of luck if they are to avoid financial instability
Fractures in the monetary system
Seizure of Bank of Russia assets likely to have long-term implications for international system