Exchange rate
Bank of Jamaica hints rate rises may be ending
MPC increases policy rate 50bp and says 6% may be “appropriate”
Uruguay continues policy tightening
Policy-makers say inflation and expectations are stubbornly high
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
Central Bank of Egypt governor resigns
Amer joins presidential staff amid inflation and currency crises
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, NBU ex-governor and current government adviser argue
Zimbabwe officials considering currency board
MPC member says arrangement would require $700 million in reserves
Kuwait raises policy rate 25bp
Central bank usually times increases to match FOMC meetings
Taiwan academics call for central bank reform
Academica Sinica says the central bank could invest part of its foreign reserves into a sovereign wealth fund
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
South Sudan president fires sixth governor
Moses Makur Deng ends seven-month stint as currency depreciates
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn
Cuban regime to buy foreign currency near market rates
Move cuts peso’s dollar exchange rate by four-fifths after Cubans protest over shortages
Madagascar raises rates 90bp
Central bank expects economy to grow but speaks of troubling global conditions
Armenia orders 25bp interest rate hike
High inflation prompts central bank to continue postwar tightening cycle
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
Monetary Policy Benchmarks 2022 report – executive summary
Benchmarking data sheds light on some of the key aspects of central bank operating frameworks
Argentina accelerates tightening with 800bp hike
Central bank says it aims to make real rate positive as president reshuffles government
Costa Rica makes largest hike since 2010
Central bank predicts that inflation will not reach its target range until 2024.
Ukraine seeking $15 billion IMF loan, NBU governor says
Supreme court backs central bank against oligarch in bitter dispute over banking clean-up
Ghana seeks IMF aid as reserves dwindle
Government secures Afreximbank loan and MPC holds rate despite inflation nearing 30%
Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg
BoJ unlikely to move policy to counter yen weakness
The Bank of Japan is wary of raising rates or even increasing its yield control target to tackle yen depreciation, which it views as being exacerbated by foreign speculators, writes Sayuri Shirai
Kazakhstan orders 50bp rate rise
Unlike neighbours, Kazakhstan continues tightening with eight hikes since last July