Inflation
Brazilian president questions central bank autonomy
Lula reiterates objections to current inflation target after central bank holds rates
Pandemic fiscal support had rapid inflationary impact – NBER paper
Inflationary impact of support to consumers was “quick to ensue, but moderate”, authors find
Brazil continues to hold rates despite president’s objections
Former governor says president’s speech reduced chance of bank loosening policy
Fed slows tightening cycle again with 25bp rate rise
More rate hikes likely as Powell expresses concern over expectations “getting unanchored”
Bolivia seeks reserves boost from retail bond sale
Unusual central bank operation “does not make much sense”, former governor says
Bank of Ghana adds 100bp as crises grind on
IMF reportedly wants end to central bank financing
IMF says global economy may be at ‘turning point’
China and India expected to drive half of global growth this year, but other economies are lagging
Wanted: radical ideas for inflation modelling
Hedge funds echo Mervyn King’s calls for a new approach to inflation modelling post-2022 crisis
Colombia says tightening cycle may be nearing end
Central bank board splits 5–2 on 75bp rate hike
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs
Canadian governor rules out early rate cuts
Macklem says bar for rate rises has risen and he cannot rule out “mild recession”
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Argentina and Brazil’s currency proposal met with scepticism
Experts say it is unclear whether governments want currency union or trade settlement mechanism
‘Neglect’ of money growth may have harmed forecasts – paper
Study finds forecasters make larger errors when money growth is highest
Brazilian ex-deputy governor says inflation target too low
Mandatory public spending means Brazil will have higher inflation than its peers
BoJ should consider ending yield curve control – IMF
Fund warns inflation risks could force central bank to take “much stronger” action
Rates round-up: Canada to pause after 25bp rate rise
Thailand ups 25bp; Nigeria increases sharply; Angola opts for cut; and more
Haiti receives $105 million emergency loan
IMF urges central bank to cut back monetary financing
Pakistan raises rates 100bp amid reserves crisis
Reserves now only enough to cover about three weeks of imports
Argentina and Brazil to begin studying common currency
Minister says countries are taking “first step” in project
Japanese inflation hits 41-year high
Inflation now double the BoJ’s target, but officials are not convinced it will last
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
Colombia finance minister says no more rate hikes needed
Ocampo says December inflation figure of 13.1% was the peak level
Cuban foreign exchange reserves have fallen, state says
Unusual disclosure in official publication sparks speculation about country’s financial position