Growth
BoE raises rate 25bp as ‘mixed’ data clouds outlook
“I don’t think it is time to declare it is all over,” Bailey says
Colombian central bank holds rates for second meeting
Board stresses inflation remains higher than in advanced economies and Latin American neighbours
RBA holds policy rate as inflation eases
Lowe says inflation is falling but remains too high
German economy remains stagnant in Q2
Official figures show no growth as outlook for eurozone largest economy’s remains weak
ECB approaching end of tightening cycle, analysts say
Divisions on governing council are creating communications challenge
PBoC holds key rate amid lacklustre GDP growth
Chinese economy grew 6.3% in second quarter, missing expectations by a full percentage point
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Fed economists estimate natural rate still at rock bottom
Analysis implies policy rate is firmly in restrictive territory and may not remain high
Italian and Portuguese leaders criticise ECB policy
Right-wing Meloni and centre-left Costa both sound warning notes on rates
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
ECB ‘cannot declare victory yet’ over inflation – Lagarde
President stresses rates will need to be higher for longer to defeat persistent inflation
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Central banks face tough fight for ‘last mile’ of disinflation – BIS
Credit losses could rival global financial crisis in higher-for-longer scenario, institution warns
State Bank of Vietnam cuts interest rates
Move comes after government’s call on the central bank to support businesses and economic growth
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
Central banking against a full-scale war
National Bank of Ukraine governor Andriy Pyshnyy shares seven statements about ‘antifragility’ and the ability to function under uncertainty – and succeed
Wuhan’s finance regulator asks hundreds of firms to repay debts
Call for repayment underscores debt troubles in Chinese regional governments amid wider slowdown
Carbon pricing would have ‘limited impact’ on eurozone inflation, says paper
Inflation would rise less than 0.2% per year until 2025 and then decline, researchers say
Governors weigh trade-offs between inflation and financial stability
Officials stress central bank independence is key to addressing these risks
Bank of Israel increases rates by 25bp to 4.75%
Central bank stresses inflation slowed down over the last three months
PBoC holds key lending rates for ninth straight month
Central bank unlikely to cut rates this year amid yuan weakness, analysts say
Dollar’s commodities link is creating risks, BIS paper warns
Simultaneous rises in dollar and commodities prices could harm stability, researchers say
Inflation impact of ECB tightening will peak in 2024, says research
Effect on economic activity is faster and will reach highest intensity in 2023