Growth
PBoC holds key lending rates
Move comes after China hit 5% growth target for 2024, but analysts expect further easing this year
Bigger cities do not mean much greater growth – study
Benefits of agglomeration are “surprisingly little”, NBER paper argues
Higher tariffs would hurt US allies as well as its foes – research
However, research says country would be largely shielded from impact of geopolitical fragmentation
China holds benchmark lending rates
One- and five-year loan prime rates unchanged after authorities pledge to loosen policy next year
Sweden makes further cuts, but Norway continues to hold
Riksbank reduces rates by 25bp, but Norges Bank maintains more hawkish approach
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
Federal Reserve cuts rates by 25bp
Powell says effects of Trump’s proposed policies, including tariffs, remain unclear
BoK vows to stabilise markets with ‘all available tools’
Central bank calls for bipartisan policy co-ordination following president’s impeachment
ECB cuts rates by 25bp
Eurosystem disinflation “well on track” and council “did not discuss” TPI, says Lagarde
Reserve Bank of Australia holds policy rate again
Central bank softens hawkish stance amid weak economic growth and slowing inflation
Reserve Bank of India holds policy rate
Governor says decision reflected need to tackle high inflation without stymying “resilient” growth
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
OECD highlights ‘resilient’ economies beset by risks
Geopolitics, high public debt and possible repricing in private credit markets threaten outlook
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
BoK makes surprise 25bp cut to base rate
Majority of monetary policy board decides risks to growth warrant loosening in policy
RBNZ delivers third consecutive rate cut
Central bank signals further easing early next year as inflation returns to target band
Capital markets union faces ‘death by a thousand cuts’ – Lagarde
ECB president tears into European leaders’ inaction over innovation and wealth creation
Rate hikes affect manufacturing economies more – Fed study
Authors find similar effects across eurozone and in US at county level
Central banks to maintain independence despite threats – panel
Top central bankers discuss Trump, AI and why they plan to ignore IMF on rate cuts
Bailey: UK must stay open for business
BoE governor calls for bridges to be built with EU countries and others