Fiscal policy
Mongolia makes 200bp hike
Central bank has doubled rates since start of year
Argentine president names Pesce to full six-year term as governor
Moves comes as IMF reaches preliminary agreement on next loan tranche
Argentina continues rate rises
Central bank increases headline rate by 550bp to 75%, but inflation continues to rise
Paraguayan ex-governor objects to central bank board nominee
Union claims appointment of finance ministry official would damage independence
Summers and Krugman see no alternative to ECB tightening
Despite lack of overheating, huge energy shock requires action to anchor inflation expectations
EU needs radical fiscal reforms, IMF report says
Framework would aim to free ECB from having to stabilise sovereign bond markets
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
IMF signs off on $1.3bn package for Zambia
Executive board urges Bank of Zambia to rebuild reserves and tackle bad debts
Supply-side pressures likely to persist – Carstens
Policy-makers “need to be realistic” about the feasibility of demand management, BIS chief says
ADB provides $100 million in emergency loans to Mongolia
Funds will be used to expand government support for vulnerable households
Chinese authorities announce $44 billion stimulus package
Authorities increase funds to power companies and farmers as country suffers from multiple crises
Book notes: The money minders, by Jagjit S Chadha
This book acts as an invaluable primer on money-credit-fiscal theory and practice
Pakistan names new governor
Jameel Ahmad succeeds Reza Baqir after three-month delay
Ghana emergency MPC meeting ends with 300bp increase
Country in renewed IMF talks as inflation spirals and currency falters
Critics accuse Barbados authorities of monetary financing
Government says it is using SDRs to buy bonds, while governor says purchases are legal
Bank of Mexico increases interest rates by 75 basis points
Central bank once more revises up inflation projections
Uncertainty over ECB’s TPI muddies monetary and fiscal impact
Analysts say anti-fragmentation tool exposes long-standing flaws in EU fiscal framework
Zimbabwe officials considering currency board
MPC member says arrangement would require $700 million in reserves
El Salvador congress approves use of SDRs for early debt repayment
Talks with IMF stalled as country tackles $24 billion debt load
ECB uses bond reinvestments to support Italy and Spain
Central bank rebalanced its bond holdings in June and July away from France, Germany and the Netherlands
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
Argentina accelerates tightening with 800bp hike
Central bank says it aims to make real rate positive as president reshuffles government
Ghana seeks IMF aid as reserves dwindle
Government secures Afreximbank loan and MPC holds rate despite inflation nearing 30%
Kazakhstan orders 50bp rate rise
Unlike neighbours, Kazakhstan continues tightening with eight hikes since last July