Inflation targeting
Central banks should ‘overestimate’ inflation persistence, says economist
Academic argues central banks should act as if exogenous shocks are likely to be persistent
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*
Romania continues tightening cycle with 75bp rise
Eighth consecutive increase comes as headline inflation passes 15%
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn
Armenia orders 25bp interest rate hike
High inflation prompts central bank to continue postwar tightening cycle
ECB paper examines unanchored inflation expectations
Public reacts more strongly to larger and downward inflation surprises, researcher finds
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
Costa Rica makes largest hike since 2010
Central bank predicts that inflation will not reach its target range until 2024.
Ghana seeks IMF aid as reserves dwindle
Government secures Afreximbank loan and MPC holds rate despite inflation nearing 30%
Kazakhstan orders 50bp rate rise
Unlike neighbours, Kazakhstan continues tightening with eight hikes since last July
Poland law would fund coal benefit with central bank’s profit
National Bank of Poland remitted 95% of profits to government in 2020
Australian government to review RBA mandate and governance
Review will look into the board structure and performance, after RBA suffers criticism over policy choices
BoI’s Yaron stresses flexibility offered by inflation target range
Bank of Israel has been studying the possibility of modifying its inflation target
Pakistan raises rates again as inflation climbs past 20%
IMF urges tighter fiscal policy as governor's post remains unfilled
Bank of Uganda raises rates 100bp at unscheduled meeting
Move is second increase in as many months as governor’s post remains unfilled
Uruguay continues ‘contractionary’ monetary policy
Eighth consecutive rate hike is smallest since last November
Bank of Israel orders biggest rate rise since 2011
Central bank continues “monetary contraction” as Israel faces fifth election since 2019
Bangladesh Bank orders second rate hike
Central bank publishes monetary policy for 2022–23
Guatemala hikes rates 25bp for second consecutive month
Board blames global commodity prices, as inflation breached target range in May
Colombia announces largest-ever rate increase
Central bank orders 150bp rise, while president-elect announces next finance minister
Dominican Republic orders 75bp rate rise
Core inflation still rising as central bank orders sixth rate hike in eight meetings
Bank of Jamaica continues tightening cycle
MPC adds 50bp, describing May inflation drop as mainly due to “temporary effects”
Riksbank carries out largest rate rise since 2000
Swedish central bank says chances of wage-price spiral have increased