Inflation
Powell says US is recovering faster than expected
Majority of FOMC members now expect policy rate hike in 2023, with no decision yet on taper
Inflation expectations rising – NY Fed survey
Survey finds consumers predicting higher prices, but also better labour market conditions
Multiple expectations test communications
The Reserve Bank of New Zealand’s communications are being tested, and some recent exchanges have been combative, says Mike Hannah
Russian central bank raises policy rate again amid rising pressures
Nabiullina says recovery is surging past central bank’s projections but that inflation will fall
Lagarde declines to give date for taper
Austrian governor immediately contradicts ECB chief, suggesting divisions on council
Spanish governor favours green monetary policy
Hernández de Cos stresses ECB should account for climate risks in its price stability mandate
US CPI inflation reaches 5%
Figures follow predictions of “transitory” inflation rises by senior Fed officials
Germany facing ‘strong upswing’ – Bundesbank
Central bank revises 2021 GDP growth forecast from 3% to 3.7%
ECB maintains high rate of bond purchases
Lagarde says eurozone inflation likely to rise in autumn but fall at start of 2022
Global recovery is ‘double edged’ for EMEs – Carstens
“Too soon” to say whether inflation will be sustained but markets may overreact, says BIS chief
ECB poised to clarify tapering of PEPP purchases
Analysts agree central bank views higher inflation as transitory and will maintain rate of purchases
Yellen: ‘slightly higher interest rate’ would be fine
Treasury secretary says US should push forward with spending plans
ECB policy paper says unconventional policy worked
Paper says QE purchases explain “lion’s share” of changes to eurozone yield curves
Weidmann drops opposition to ‘greening’ ECB bond holdings
Bundesbank president says ECB could limit purchases of corporate bonds from some sectors
EU common debt to boost euro’s international role – ECB
Currency still faces negative rates, fragmented debt market and lack of triple-A assets
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues – on expectations, on fiscal policy, and on the capacity of the economy to ‘run hot’
Ghana’s central bank cuts interest rates to 13.5%
Inflationary pressures have all but disappeared, central bank says, but uncertainty around new variants could undermine recovery
Eurozone inflation reaches target for first time since 2018
Early estimates suggest HICP inflation hit 2% in May
Mexican board members concerned by inflation, minutes show
Bank of Mexico board held rates at 4% in spite of 6.1% year-on-year inflation in April
A return of the inflation monster?
There are fears that a shift in intellectual approach towards running economies ‘hot’ could herald a return of the money-eating inflation era
ECB should adopt symmetric 2% target with AIT – US economist
Academics and former officials say ECB’s new policy framework needs to be nimble to react more quickly to inflation changes
Firms are ‘inattentive’ to inflation and monetary policy – NBER paper
Authors present new survey data indicating firms’ expectations are “anything but anchored”
Mexican president says he will not renew governor’s mandate
President questioned why central bank could not transfer executive 2020 operational profits
Energy prices boost eurozone inflation in April
Consumer price index increased year on year by 1.6%, as energy prices increased by 10%