Interest rates
Sarb pauses rate rises in split decision
MPC votes 3–2 to hold rates at 8.25% after inflation falls within target range
Nagel calls on German government to tighten fiscal stance
Public spending needs to fall to lower inflation, says Bundesbank president
Brazilian central bank denies censoring board members
Dispute highlights possible political divisions as president Lula appoints officials
Monetary Policy Benchmarks 2023 report – navigating uncertainty
Benchmark data highlights ongoing evolution in policy frameworks as central banks move beyond the pandemic – and into the high-inflation period
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
ECB needs to maintain tight policy, says IMF
Policy rates, rather than quantitative tightening, should be main tool, IMF directors say
German inflation to fall again from September, says Bundesbank
One-off effects boosted inflation from 6.3% in May to 6.8% in June
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates
BoE stress tests find banks resilient to interest rate risk
Credit impairments drive majority of losses, but all banks pass test
RBNZ halts tightening cycle
Central bank says policy rate will need to remain at a “restrictive” level for some time
PBoC extends relief measures for struggling developers
Developers are allowed loan repayment extensions by another full year
Bank of Israel halts tightening cycle
Central bank signals it could raise rates further if inflation does not continue falling
Weak krona increases inflation risk – Riksbank minutes
Board members agree inflation remains too high and policy needs to be tighter
Central banks average four forecast updates a year
Final decision on projections jointly taken by policy-makers and staff in most jurisdictions
Mexican MPC members determined to hold rates
All five governing board members agree it is necessary to avoid rate cuts to tame inflation
Taiwan’s central bank calls for wage rises
Report calls for more unionisation after real wages fell in first quarter
Basel Committee overhauls supervision guidance
Key updates cover supervision of risks related to interest rate, operations and climate
Brazilian president’s nominees confirmed for central bank board
Observers speculate Galípolo may be next governor, while Santos is first Black board member
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Inflation targeters tend to pay monetary policy staff more
Salaries tend to rise with GDP per capita but less developed economies pay larger multiples
Cracks open in ECB’s governing council
Italian governor warns against excessive tightening as Bundesbank president insists rates must be higher