Monetary policy
Bank of Mexico halts tightening cycle
Board says it will be necessary to keep rates unchanged “for an extended period”
IMF approves $3 billion for Ghana
Governor welcomes conditions, including cutting inflation and ending monetary financing
Philippine central bank pauses tightening as inflation eases
Governor Medalla says rate rises seem to have affected domestic demand
Bolivian governor says country faces ‘liquidity crisis’
Authorities’ response to bank failure could worsen financial stress, analysts say
Book notes: The Federal Reserve: a new history, by Robert L Hetzel
This book should become the standard reference for scholars
Inflation impact of ECB tightening will peak in 2024, says research
Effect on economic activity is faster and will reach highest intensity in 2023
Argentina raises rates again
Economic stability grows more distant as elections loom
Lula’s risky challenge to the Brazilian central bank
President can nominate board members and increase inflation target as he pushes for lower rates
Fed communication drives house price expectations – NBER paper
Researchers find people’s expectations vary widely and depend on clear explanations
Biden nominates Jefferson as Fed vice-chair
President chooses first Latinx candidate for Fed board, and names Cook for full term
Peru holds rate at 7.75%
Central bank maintains policy unchanged since January, although inflation remains over target
BoE raises rates 25bp and ditches UK recession forecast
Central bank predicts inflation will stay higher for longer after MPC splits 7–2 on policy hike
Eurozone consumer inflation expectations rose significantly, ECB says
Rise in expectations may bolster arguments for tighter monetary policy
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
Advanced economies face slowdown and stubborn inflation
Jagjit Chadha analyses the shifting outlook for the world economy, with more hard work ahead for central banks
Eurozone interest rates should increase further, says Nagel
Bundesbank president stresses ECB will start reducing balance sheet at a faster pace from July
Brazil’s president selects ally for central bank board
Lula has repeatedly attacked central bank independence as well as the governor
Riksbank makes mistake publishing policy minutes
Swedish central bank says it takes the incident seriously and will strengthen procedures and controls
Colombia hikes rates in split decision
Meeting was last for finance minister Ocampo, who lost job in reshuffle
Norges Bank increases rates by 25bp
Norwegian central bank says weaker exchange rate may require higher rates than expected
ECB slows down tightening with 25bp rate increase
Lagarde insists the governing council is “not pausing” its tightening cycle
Brazilian MPC holds key rate again
Central bank warns of “lingering uncertainty” over future fiscal policy
Russian governor Nabiullina warns of future hikes
Bank will raise rates if structural deficit rises, while labour market is “complicated”, governor says
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics