Monetary Policy
Icelandic governor issues call to moderate wage demands
Central bank chief says country’s persistently high inflation can only be tackled through collective effort
Book notes: Can Europe survive? By David Marsh
Marsh poses important questions and cannot be blamed for failing to produce a roadmap to continental salvation
Poland and Serbia hold rates
Both central banks cite effects of Middle East conflict in explaining policy decisions
Kenya ends easing cycle with rates hold
Central bank adopts wait-and-see approach amid uncertainty over Iran conflict
Governor says RBNZ will tighten policy if inflation rises
Central bank holds and offers ‘uncertain’ estimate of inflation being well above target
BoT likely to hike rates if others do, says assistant governor
Don Nakornthab says Thailand’s low inflation means tightening would also come later than elsewhere
RBI holds rates amid uncertainty over Middle East conflict
Bank acknowledges risks to inflation and growth, but says India is well placed to withstand shocks
The evolution of central banks
Bank Negara Malaysia governor Abdul Rasheed Ghaffour writes that the roles and responsibilities of central banks are evolving in a changing landscape
Central banks face ‘double whammy’ from Iran war
Policy-makers will have to tackle impact of higher inflation and greater fiscal stimulus
Current threats to central bank independence
Improved communications, advocacy for tech oversight and international co-operation will help to address challenges posed by populism, excessive debt and new forms of money, write Gavin Bingham, Paul Fisher and Andrew Large
Colombia’s rate hike prompts government backlash
Finance minister Germán Ávila exits Banrep board in protest at 100 basis point tightening
Supply-side shock stuns central banks
The partial closure of the Strait of Hormuz raises fresh challenges for central bank policy-makers
Israel holds rates, citing war’s impact on growth and prices
Central bank says economic activity has declined and inflation risks are biased to the upside
BNM chief: central banks must be ‘architects of resilience’
Policy challenges are ‘converging all at once’, Malaysian governor tells Central Banking Meetings
Norges Bank holds and signals future rate hikes
Job of tackling inflation ‘has not been fully completed’, says governor
Shrinking Fed’s balance sheet a ‘solvable challenge’ – Miran
Central bank can shed $2 trillion off ledger without hitting scarce reserves threshold, governor says
Mexico surprises markets with rate cut in split decision
Central bank faces headwinds from weak growth and oil shock
As new gauge puts CPI above 2%, is BoJ prepping for a hike?
Revised data shows price growth at a level the bank said would trigger tightening
BoE’s Greene warns of lasting inflation from Iran war
MPC member says energy prices could stay higher even after conflict ends
Philippines holds rates at unscheduled policy meeting
BSP is latest central bank to highlight inflationary risks from current geopolitical developments
YCC, carry trades and the changing role of the yen
Marcello Minenna argues that as the BoJ adjusts its policy regime, changes in carry positioning are increasing the instability of the correlation between exchange rates and yield differentials