Inflation
‘Unstable, unreliable and temporary’: paper explores global co-operation
Policy-makers should heed JM Keynes’ 1919 warning, say Michael Bordo and Catherine Schenk
Moldova raises interest rates 100bp
Central bank cites “persistent” inflationary pressures, though rate is below target
The IMF’s $650bn SDR allocation and a future ‘digital SDR’
Focus is needed on widening SDR use in payments and the creation of a ‘digital SDR’, to support a large allocation of ‘official’ IMF SDRs, writes Warren Coats
Brainard reiterates that inflation is ‘transitory’
Fed board member speaks after PCE inflation figure of 4% released
Eurozone inflation up to 2.2% in July
Germany records 3.1% inflation rate, France 1.6%, Italy 0.9%
Fed launches standing repo facilities
Facilities to be open to foreign central banks and domestic primary dealers; FOMC keeps policy on hold
South Korea aiming for rate hike as growth recovers
BoK to discuss rate hike in next policy meeting, but quarterly GDP figure shows some weakness
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
New BoE climate risk scenarios spark race for extra data
Banks need information from clients or third parties to populate 1,760 stress test variables
ECB reinforces commitment to monetary stimulus
Central bank expects inflation to reach 2% “durably”, midway through its projection horizon
ECB set to adapt forward guidance in July meeting
Analysts expect ECB to adjust policy to meet goals of recent strategy review
Incoming BoE policy-maker says inflation ‘momentum’ is easing
Catherine Mann says price rises appear to be starting to taper off
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Belarus raises interest rates 75 basis points
National Bank orders second hike of the year to combat inflation
Inflation fears are ‘overstated’ – BIS research
‘Little evidence’ of the forces that normally lead to persistent inflation, bulletin article says
The ECB’s monetary policy strategy review
The ECB’s founding monetary policy architect, Otmar Issing, offers some initial perspectives on the ECB’s strategy review
Chile’s central bank starts tightening cycle
Board votes to increase rates by 25bp amid rapid recovery and above-target inflation
Senior Fed officials differ on taper
Powell stands firm, but two regional presidents suggest a sooner-than-later approach
Bank of Canada continues taper
Central bank reduces QE by one-third to $2 billion weekly, but keeps interest rates stable
Paper analyses eurozone consumers’ inflation expectations
Short-term views, trust and Covid-19 shaped medium-term expectations – Bank of Finland paper
RBNZ calls halt to quantitative easing
Central bank has bought considerably less than its NZ$100 billion limit