Inflation targeting
Powell says taper test has been met ‘with regard to inflation’
Fed chair tells Jackson Hole conference that slowing QE this year “could be appropriate”
ECB council divided on forward guidance, minutes show
Some senior officials argued new formulation risks inflation overshooting
Brazil’s supreme court upholds central bank autonomy law
Opposition parties had challenged constitutionality on procedural grounds
Chilean governor opposes new pension withdrawals
Congress considering authorising fourth drawdown as stimulus measure
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
Hungarian central bank raises rates for third month running
MPC cautions inflationary pressures remain and forecasts return to target in mid-2022
Paraguay raises rates as start of ‘gradual normalisation’
Country is latest in Latin America to tighten policy, alongside Brazil, Uruguay and Peru
German inflation could be over 2% until mid-2022 – Bundesbank
Inflation is likely to drop from early 2022 as base effects end, central bank forecasts
Canada records highest inflation since 2011
House prices help drive figures up, as inflation becomes campaign issue in election season
RBA governor dismisses calls for policy review
Opposition politician criticises central bank for frequently missing inflation target
Uruguay raises policy rate 50 basis points
Move is first time central bank has raised rates since readopting a policy rate last year
No one monetary policy target optimal – Bank of Canada paper
Flexible inflation targeting one of best performers in “horse race” with other options
Peru hikes policy rates as inflation exceeds target
Central bank says policy is still expansionary stance as real rates stay at -3.3%
Bank of Mexico continues tightening with split vote
Governor stresses central bank needs to be cautious as inflation rises above target
An assessment of the ECB’s strategy review
A number of aspects of the new framework raise challenges for implementation and credibility, while the inclusion of climate change may politicise the institution, writes euro architect Otmar Issing
The distant cry of hawks? Fed begins tightening talk
Richard Clarida gives a date for hiking interest rates, as debate on taper timing continues
Brazil accelerates tightening cycle with 100bp rate hike
Central bank takes key policy rate to 5.25%, as inflation increased by 8.4% in June
Armenia and Georgia raise policy rates
Caucasus states follow Russia in anti-inflationary moves
Moldova raises interest rates 100bp
Central bank cites “persistent” inflationary pressures, though rate is below target
BoE’s Vlieghe: central bankers must speak up about economic fragility
Outgoing MPC member says impact of debt and inequality is “stark”, but goes beyond central banking
Kazakhstan raises rates as inflation climbs
Central bank warns inflation could still rise further, a similar issue to neighbouring Russia
Bank of Russia increases policy rate 100bp
Central bank announces fourth rate hike of year amid rising inflation expectations
Weidmann: inflation heading ‘in the direction of 5%’
But the Bundesbank president defends the ECB’s new policy framework
ECB reinforces commitment to monetary stimulus
Central bank expects inflation to reach 2% “durably”, midway through its projection horizon