Communication
Colombia finance minister says no more rate hikes needed
Ocampo says December inflation figure of 13.1% was the peak level
Bank of Korea raises policy rate to 14-year high
Two central bank board members voted to hold the rate steady
Brazil’s central bank reassures public that Pix is free
Online rumours claimed payments system would start charging consumers and firms
Israel raises rates to highest level since 2008
Governor warns new government that markets expect fiscal responsibility
Rethinking the CCyB
As central banks rush to replenish bank capital reserves, the countercyclical buffer may need some fine-tuning
Book notes: A monetary and fiscal history of the United States, 1961–2021, by Alan Blinder
The book’s breakthrough is its infusion of the history of fiscal policy into a theoretical framework traditionally focused on monetary instruments. It is a splendid and thrilling read
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
BoE not briefed on disastrous ‘mini-budget’, Bailey says
Governor says absence of independent assessment of tax package made it very hard to assess
RBA to review payment system after outage
Central bank apologises for October incident that saw 500,000 payments via an Australian fast payment platform delayed for hours or days
RBA governor apologises over forward guidance
Philip Lowe says he’s sorry that people took out mortgages on the basis of central bank guidance
RBA to return to “less specific” forward guidance
Central bank admits forward guidance during the pandemic was sometimes too complex
US consumers may be listening more to Fed comms, researchers say
Consumer expectations becoming more informative and less sticky, survey data suggests
Bank of Canada makes smaller-than-expected rate rise
Macklem says central bank is “getting closer” to end of increases, “but we are not there yet”
Belarus’s governor predicts inflation will fall
Government imposed price controls after sanctions helped push inflation into double digits
Monetary Policy Benchmarks 2022 – presentation
Central Banking’s economics subject matter specialist Daniel Hinge discusses monetary policy after Covid-19
‘Shouting on the phone’: BoE officials shed light on gilt market intervention
Crisis sparked by UK government’s plans needed unprecedented action, officials tell parliament
St Louis Fed president appeared at private Citigroup event
Media was not invited to October 14 talk by FOMC member Bullard
BoK governor highlights difficulty in forward guidance
Rhee Chang-yong says he may reassess forward guidance amid exchange rate pressure
Armenian governor argues for ‘paradigm shift’ in forecasting
Base case should be abandoned in favour of multiple scenarios, says Martin Galstyan
BoE’s Pill says government must ‘respect’ independence
Government and central bank have clashed over causes of UK’s gilt market turmoil
BoE launches teaching resources for secondary school students
Few UK students study economics before age of 16 and schools are not required to teach finance
IMF warns UK government as pound resumes fall
BoE’s Huw Pill signals need for “significant monetary policy response” to government spending plan
BoE ‘monitoring developments’ amid market ructions
Many analysts had predicted early policy action from the central bank