Inflation
Moldova raises rates as inflation hits 31.8%
Policy interest rate reaches new record high
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*
Israeli reserves increase on higher equity prices
Portfolio increases by over $4 billion in July to $197.8 billion
Romania continues tightening cycle with 75bp rise
Eighth consecutive increase comes as headline inflation passes 15%
South Sudan president fires sixth governor
Moses Makur Deng ends seven-month stint as currency depreciates
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
ECB uses bond reinvestments to support Italy and Spain
Central bank rebalanced its bond holdings in June and July away from France, Germany and the Netherlands
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn
Cuban regime to buy foreign currency near market rates
Move cuts peso’s dollar exchange rate by four-fifths after Cubans protest over shortages
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
UK’s possible next prime minister promises BoE mandate change
Liz Truss says situation now “very different” to when central bank’s mandate was laid down in 1997
BoE accelerates tightening as inflation expected to hit 13%
“Enormous” external shocks to blame for large changes in forecasts, officials say
Is the US heading for stagflation?
US academics weigh up the risks – and whether the Fed can avoid the worst outcomes
Armenia orders 25bp interest rate hike
High inflation prompts central bank to continue postwar tightening cycle
Blanchard and Summers clash with Fed over soft landing
Economists challenge Fed view that fall in vacancies can save US from mass unemployment
ECB paper examines unanchored inflation expectations
Public reacts more strongly to larger and downward inflation surprises, researcher finds
IMF stresses inflation risks may rise further
In such a case, central banks will need to be more resolute in securing price stability
RBA raises interest rate by another 50bp
Governor Philip Lowe says RBA aims to keep the economy on an even keel while bringing inflation back to target
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
Rates round-up: Latin American central banks battle persistent inflation
Colombian, Dominican and Nicaraguan central banks hike rates as inflation stays high
Monetary Policy Benchmarks 2022 report – executive summary
Benchmarking data sheds light on some of the key aspects of central bank operating frameworks
Little risk of stagflation in Netherlands, says DNB
Wages are no longer inflation-linked and profits are higher, the Dutch central bank confirms.
Argentina accelerates tightening with 800bp hike
Central bank says it aims to make real rate positive as president reshuffles government
Costa Rica makes largest hike since 2010
Central bank predicts that inflation will not reach its target range until 2024.