Monetary Policy
Fed doubles pace of quantitative easing taper
FOMC says recent inflation figures and labour market strength drove the decision
Chilean central bank continues sharp policy tightening
Second consecutive 125 basis point increase takes policy rate to 4%
Hungary continues campaign of rate hikes
MNB ends asset purchase programme, as inflation rises above 7%
Podcast: Oliver Wünsch on a solution to eurozone fragmentation risks
A common fiscal authority could offer stability, but would require sharing more sovereignty
Inflation challenges ECB’s normalisation plans
Central bank expected to confirm end of PEPP purchases on December 16
Pakistan confronts inflation with 100bp hike
Third consecutive increase may be last for a while, MPC says
IMF urges UK to withdraw ‘exceptional’ monetary policy
Fund says signals would dampen inflation expectations while leaving policy supportive
Bank of Canada renews monetary policy framework
Central bank conducts first “systematic” study of other frameworks since it adopted inflation targeting
Armenia raises policy rate 50 basis points
Central bank tightens grip on credit with seventh rate hike in 12 months
Masaaki Shirakawa on lessons from crisis and how to reform central banks
The former governor reflects on a turbulent 40 years at the Bank of Japan, and considers how central banks might face up to the challenges of the future
The matter of minutes: Why open up private deliberations?
Many central banks publish records of MPC meetings, but far fewer publish vote tallies. Where should public scrutiny stop?
Polish central bank hikes rates again
NBP says it will continue to act to push inflation back to target
Peruvian central bank orders fifth consecutive rate hike
Board says it may not implement further hikes and above-target inflation is “transitory”
BoJ does not need to tighten policy – deputy governor
Masayoshi Amamiya says Japan is facing a unique inflation situation
Brazilian MPC tightens rates again despite sluggish growth
MPC “foresees another adjustment of the same magnitude” at next meeting
Georgia central bank orders 50bp hike
Central bank raises policy rate to 10.5% as inflation continues rising
Inflation to end year at 60%, Zimbabwe’s central bank says
Unofficial figures have annual inflation above 100%, but governor says monetary policy will keep prices in check
PBoC cuts reserve requirements
But easing measure partially offset by withdrawal of other liquidity support
BEAC raises interest rates
Central African states’ shared central bank imposes first hike in three years
Podcast: Waking up to net zero
BNP’s Jane Ambachtsheer says central banks should not be held solely responsible for achieving net zero, but they have a significant role to play
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
BoE opens sharia-compliant facility after six years of work
‘Wakalah’ liquidity facility designed to address disadvantage faced by Islamic banks
Book notes: Empire of silver, by Jin Xu
A useful introduction to China’s monetary history, focusing on the last 1,000 years, but not the easiest of reads throughout
Monetary policy’s potency may wane over time – BIS paper
Low rates might cause aggregate demand to become less sensitive to monetary stimulus, authors say