Interest rates
New forward guidance is “elemental” for ECB strategy, Lane says
Chief economist implicitly disagrees with Belgian governor’s criticism of new wording
Less chance of “taper tantrum” in emerging markets – Dallas Fed paper
Emerging markets have larger dollar reserves to meet financing disruptions
Covid case halts RBNZ rate hike plans
Central bank had been expected to raise rates but lockdowns signal further uncertainty
Uruguay raises policy rate 50 basis points
Move is first time central bank has raised rates since readopting a policy rate last year
Peru hikes policy rates as inflation exceeds target
Central bank says policy is still expansionary stance as real rates stay at -3.3%
Bank of Mexico continues tightening with split vote
Governor stresses central bank needs to be cautious as inflation rises above target
Negative yields decline in Dutch bond markets
Sovereign bonds account for majority of securities yielding negative returns
Fed decisions barely noticed by households – BIS paper
Researchers find even major events have only a muted impact on household inflation expectations
Energy prices boost Norway’s headline inflation to 3%
Core index declines to 1.1%, the lowest level in almost four years
Ecuador central bank doubles BIS credit line
Central bank to treat funds as precautionary to deal with a future downturn
RBI promises policy support ‘as long as necessary’ despite inflation surge
Inflation breaches tolerance band but governor says economy now “in a much better position”
CNB continues tightening cycle with 25bp hike
Board opts for additional hike as forecasts point to short-term inflation surge
Brazil accelerates tightening cycle with 100bp rate hike
Central bank takes key policy rate to 5.25%, as inflation increased by 8.4% in June
BoE on hold as inflation looks set to soar to 4%
Committee hints at need for “modest tightening” soon, but says asset purchase programme will not unwind until interest rates reach 0.5%
Armenia and Georgia raise policy rates
Caucasus states follow Russia in anti-inflationary moves
Bank of Thailand holds main rate in split vote
Growth forecast dives again as Thailand battles Covid-19 surge
Fed reverse repo demand tops $1 trillion
New York Fed facility sets latest in series of record volumes
Moldova raises interest rates 100bp
Central bank cites “persistent” inflationary pressures, though rate is below target
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
Kenyan central bank prepares further monetary policy reforms
Review recommends action to improve modelling, boost interbank market and develop education
Covid and the cloud: a turning point for central banks?
As central banks embrace new technology, providers are jostling to be first in line
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