Inflation
Chilean MPC speeds up tightening, citing higher inflation risks
Central bank board surprises markets, increasing interest rates by 125 basis points to 2.75%
US CPI inflation rises to 5.4%
Prices continue upward climb, but policy-makers still see pressures as temporary
Clarida: ‘Stagflation is not my baseline case’
Fed vice-chair says inflation situation not akin to 1970s
IMF: growth prospects dim as pandemic lingers
Fund revises down growth forecasts, warning of inflation, disruption and divergence
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
ECB’s Lane: one-off wage increases do not equal sustained inflation
Inflation is forecast to have reached 3.4% year on year in September, well above the ECB’s 2% goal
Summers fears for Fed’s ability to remove ‘punchbowl’
Central banks may not be able to counter inflation threat amid possible return to 1960s economics, says former US Treasury secretary
Peru central bank raises rates for third time in two months
BCRP forecasts inflation will return to target, but expresses concern over expectations
Some ECB rate-setters concerned over inflation
Minutes show certain governing council members called for sharper cut in asset purchases
Bank of Israel again holds rate steady
But MPC signals it is ready to end QE programme if economic recovery continues
Uruguayan central bank makes second rate increase in a row
Central bank aims to end “expansive” monetary policy and guide inflation to target range
Romania orders first rate increase in more than three years
Central bank adds 25 basis points as energy prices bite, while Moldova continues tightening
Iceland tightens policy to tame inflation
Inflation rose to 4.4% in September, above the central bank’s 2.5% target
Iran appoints third governor this year
Ali Salehabadi joins central bank three months after predecessor took office
RBNZ begins monetary tightening with 25bp hike
Central bank is confident inflation will return to target, but says growth will be “volatile”
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
The former US Treasury secretary speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord, the pitfalls of ‘unknown unknowns’ and central bankers ‘unable’ to remove the ‘punchbowl’
US PCE inflation rises to 4.3%
Fed’s preferred rate reaches new high in August, but “trimmed” measure steady at 2%
Colombia raises policy rate for first time since 2016
Board forecasts inflation will be above target band for the rest of this year
Jamaican central bank makes first rate rise since 2019
Central bank forecasts inflation will be above target for two years as it hikes rate by 100bp
Bank of Mexico makes third consecutive rate raise
Board says inflation risks are tilted to upside and raises fourth-quarter inflation forecast
Czech central bank raises rates despite government pressure
Board votes to increase repo rate 75bp as inflation rises above 4% for first time since 2008
Goodhart, Gopinath and Lippi disagree on inflation
Central banks lack tools to deal with inflation, Goodhart warns, but IMF chief economist disagrees
Elizabeth Warren publicly rejects Powell reappointment
Senator calls Jerome Powell “a dangerous man to head up the Fed”
Bailey puzzles over UK labour market signals
A lot of people are still out of the labour market, but unemployment remains low