Monetary Policy
ECB holds rates, but hawkish tone goes
Jean-Claude Trichet, the president of the European Central Bank, revealed a shift to a more dovish outlook as the governing council held rates at 4% for the eighth straight month.
ECB right but opaque, says report
The latest Monitoring the European Central Bank report, published on Thursday by the Centre for Economic Policy Research (CEPR), suggests that there is much room for improvement in the way the European Central Bank (ECB) sets interest rates and…
Czech Republic raises rates as inflation surges
The Czech National Bank's rate-setting board voted to raise its benchmark rate to 3.75%.
Fed's Plosser on the limits of monetary policy
Monetary policy is not the solution to all economic ills, said Charles Plosser, the president of the Philadelphia Federal Reserve.
Indonesia holds rates
Bank Indonesia's rate-setting board voted on Wednesday to leave rates at 8% in an attempt to bring inflation within the 4-6% range set for 2008.
Recent trends in emerging markets' monetary policy
A new collection of Bank for International Settlements papers investigate major changes in monetary policy transmission in emerging markets over the past decade.
Australia raises rates to fresh high
The Reserve Bank of Australia's rate-setting board voted to raise rates 25 basis points to 7%, their highest level in over 11 years.
Sri Lankan inflation set to fall - Cabraal
Inflation in the Sri Lankan economy is set to moderate in the second half of this year, Nivard Cabraal, the governor of the central bank said.
Romania raises rates by 100 basis points
The National Bank of Romania surprised markets on Monday by raising its benchmark rate a full percentage point to 9%.
Russia raises rates, ups reserve ratio
The Central Bank of Russia has hiked rates and its reserve ratio requirements in a bid to curb inflation.
Canadian exchange rate key to monetary policy
The exchange rate of the loonie is a key element of the Bank of Canada's monetary policy framework, said Paul Jenkins, the senior deputy governor at the central bank.
Canada's inflation success down to more than luck
The price level in Canada has strayed little from the path implied by the 2% inflation target because expectations and interest rates are determined in a way that is consistent with price-level-path targeting, research published by the international…
Eurozone inflation hits record high
Eurozone inflation has climbed to its highest level since the European Central Bank was founded in 1999, an early estimate shows.
Philippines lowers rates to 5%
The Central Bank of the Philippines's rate-setting monetary board on Thursday cut its key policy rate by a quarter-point to 5%.
Fed faces uncertain times and difficult decisions
Stephen Cecchetti, the Rosenberg professor of global finance at the Brandeis International Business School, discusses why the outlook for the United States economy is so hard to call and if the Federal Reserve was right to cut rates.
Joint rate moves have little benefit
The gains from monetary policy coordination in the United States and the eurozone are small, research published by the European Central Bank finds.
South Africa holds rates
The South African Reserve Bank's rate-setting board voted on Thursday to hold rates at 11%.
Pakistan rates up by half a point
The State Bank of Pakistan's rate-setting board has raised its benchmark interest rate by 50 basis points to 10.5%.
Poland raises rates to 5.25%
The National Bank of Poland's rate-setting monetary policy council opted to hike its benchmark reference rate by 25 basis points on Thursday.
Instant cuts the right response to instability
Monetary policy that responds instantly to increased credit risk performs better than a policy that follows the traditional Taylor rule, research published by the International Monetary Fund finds.
SARB may hold rates
Recent power shortages may lead to a rethink on rate rises in South Africa.
Fed cuts rates by half a point
The Federal Open Market Committee voted on Wednesday to lower rates by 50 basis points to 3%.
Markets expect half-point cut from Fed
The majority of analysts expect the Federal Reserve to cut rates by a further half-a-percentage point on Wednesday.
Malaysia keeps rates at 3.5%
Bank Negara Malaysia's rate-setting monetary policy committee voted to hold its benchmark overnight policy rate at 3.5% on Monday in spite of concern over inflation.