Commodities
Rates round-up: Ghana and Thailand tighten
Many central banks in Africa, Asia and Europe still raising rates, but Angola continues cuts
Norway and Iceland raise rates as inflation stays high
Iceland’s governor warns of wage-price spiral and says economy is overheating
Bolivia sells dollars to public as reserves dwindle
Analysts say central bank may not be able to defend its peg much longer
RBI continues with gradual monetary tightening
Governor notes continued progress on inflation but core index remains “sticky”
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Haiti receives $105 million emergency loan
IMF urges central bank to cut back monetary financing
S&P worried about Israeli plans to use SWF funds, says report
Finance ministry says no bill has been prepared
Peru raises rates for 18th consecutive month
Inflation remains stubbornly high, but central bank is optimistic it will fall in 2023
US CPI inflation falls again
Falling fuel prices drive down index for sixth straight month
Papua New Guinea flights grounded amid FX dispute
Central bank accuses fuel supply firm of failing to repatriate foreign exchange earnings
Rates round-up: Turkey pauses rate cuts
Egypt hikes main rate 300bp after IMF deal; Indonesia decelerates tightening; and more
Egypt raises policy rate and floats currency
Central bank decisions come as IMF signs preliminary deal for further $3 billion loan
Hungary makes emergency intervention to defend forint
Action comes after the central bank said it would cease rate rises
IMF publishes sober outlook for 2023
“Worst is yet to come”, says chief economist
IMF loans $1.3 billion to Ukraine under ‘food shock window’
Foreign donors should increase funding, IMF says, after officials warn of potential instability
IMF approves ‘food shock window’
Temporary measure will help countries deal with food insecurity
IMF approves $3.8 billion for Argentina
Country has met most key targets, but 2022 inflation now projected to top 100%
UN body warns central banks could set off global recession
UNCTAD report calls for price controls rather than rate hikes
Nigerian MPC raises rates as inflation reaches highest level since 2005
Governor says inflation is gathering pace and next year’s election is increasing sovereign risk
US CPI inflation falls modestly
New York Fed reports “steep declines” in inflation expectations, but core CPI ticks up
Guatemala and Dominican Republic raise rates
DR says inflation is “moderating” and economy is strong; Guatemala notes second-round effects
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Banks shock commodities by 1,000% in stress-test rethink
Energy price spikes force clearing firms to consider extreme or even ‘implausible’ scenarios
Book notes: The money minders, by Jagjit S Chadha
This book acts as an invaluable primer on money-credit-fiscal theory and practice