Inflation
FOMC members express different views for policy path forward
Bowman and Kashkari expect further rate hikes but Daly is less certain
Nigerian senate confirms governor and deputies
President’s nominees took over as acting officials last week after former deputy governors resigned
Bolivian reserves reaching critical levels, say experts
Central bank is depleting gold stocks to pay debt while monetary financing continues
Will the ECB take its key rate past 4%?
French and Spanish governors say policy is working, but Nagel warns pace is too slow
Ghanaian MPC holds rates while Guinea opts for 50bp rise
Addison says Ghana’s growth will outstrip IMF forecast but reserves remain extremely low
South Africa and Egypt both hold policy rates
Sarb governor says job of fighting inflation “is not yet done”
Colombian policy-makers clash over rates
Finance minister wants “very small” rate cut, but central bank board member disagrees
OECD says interest rates should stay high ‘until well into 2024’
Report says monetary policy needs to stay tight until underlying inflationary pressures are lowered
BoJ keeps negative rates unchanged
Ueda says more time is needed to assess whether rising wages are supporting inflation
Inflation behaves differently across income levels – BIS paper
Study finds various channels are behind uneven responsiveness of inflation to monetary policy
FOMC members’ narratives add value to projections, finds paper
Both staff and FOMC members 'projections aid forecasting, refuting Romer and Romer
Riksbank and Norges Bank continue increasing rates
Swedish central bank hikes rates to 4%, Norwegian to 4.25%
Latin America roundup: Brazil makes second 50bp rate cut
Paraguay eases rates down, while Costa Rica holds as negative inflation continues
Bank of England pauses for first time since December 2021
MPC votes 5–4 to halt cycle amid slowing inflation and a sluggish economy
SNB surprises markets by holding rates at 1.75%
Swiss central bank to allow all banks to use mortgages as collateral to access liquidity
Asian central banks hold rates
Philippines, Indonesia, Taiwan and Hong Kong stay put
Canadian official says mortgage rates not big cause of inflation
Kozicki says taking home loans out would make only small dent in core reading
Federal Reserve holds rates and revises projections upwards
Powell says path for soft landing has “widened apparently”
Tight monetary policy can scar economy, SF Fed research finds
Central banks may not be able to undo effects on productivity and potential output, paper says
Peru’s central bank makes first rate cut since pandemic
Central bank joins Brazil and Chile in easing policy as inflation falls
Cuban official denies plans to issue higher-value notes
Deputy governor says rumours are inaccurate as citizens face cash shortages and inflation
ECB raises rates to all-time high of 4%
Lagarde says “solid majority” supported raise but says some members opposed it
Debt levels are likely to start rising again, IMF warns
China playing major role in debt growth, as low-income countries face worse risks, analysts say
Book notes: The Continental dollar, by Farley Grubb
Grubb’s book brings an important new interpretation to this founding moment in US financial history