Monetary Policy
South Korea holds policy rate at 2.5%
Central bank says it needs more time to assess changes to household debt and house prices
Australia surprises observers by holding rates
Board keeps policy rate at 3.85% in split vote, citing higher-than-expected inflation
BoE’s MPC should publish individual rate forecasts – Taylor
Newest committee member discusses r* and calls for greater transparency around forward guidance
More adjustment needed to JGB purchases – BoJ board member
Takata says current plan will increase supply to early 2000s levels, with potentially destabilising effects
Geopolitical ructions and the role of the dollar
Implications of the new US administration’s policies for the international monetary system and central banks
Economists denounce Trump’s ‘bullying’ of Fed chair
Experts also back Powell’s assessment rates would probably be lower were it not for tariffs
Climate change among issues that became ‘taboo’ during QE – study
Central banks also exercised “strategic silence” on house prices to avoid becoming politicised
Ethiopia holds policy rate as inflation persists
Central bank vows to maintain tight stance until figure returns to single digits
The future of money
Central banks may require more flexible inflation targets and facilitate wider payments interoperability to maintain trust and the ‘singleness’ of money. By Sethaput Suthiwartnarueput
ECB unveils latest strategy fit ‘for all circumstances’
Chief economist says unconventional tools are “unconventional for a reason”
Finland’s Välimäki on the ECB’s monetary policy framework review
Bank of Finland board member Tuomas Välimäki discusses the benefits of a ‘hybrid’ balance sheet model to provide dependable structural liquidity without distorting markets
PBoC to increase ‘intensity’ of policy adjustments
Bank to retain “moderately loose” stance while targeting stable growth and reasonable prices
Ex-OCC chief Michael Hsu on the impact of an America-first agenda
The former acting comptroller of the currency speaks with Christopher Jeffery about the future of the US Treasury market, Fed independence, financial de-regulation, the Genius Act and international co-operation
Abandoning HICP targeting would help the poorest – paper
Focus on discretionary spending inflation could lower recessions’ effects, Sintra conference paper argues
Turkey stresses vigilance amid progress in disinflation
Central bank emphasises firm monetary stance despite cooling inflation
Banxico makes fourth straight 50bp cut
Inflation edges up but growth still sluggish; central bank opens door to slower easing
RBA research finds monetary easing can reduce inequality
Reserve Bank of Australia study finds impact of economic shocks dampened after accounting for household income
Hong Kong intervenes to protect currency peg
HKMA sells US$1.2 billion at HK$7.85 to the dollar as local currency hits weak end of FX band
Czech central bank holds rates in unanimous decision
CNB takes wait-and-see approach despite strong economic growth
Hungary holds rates as economic outlook nosedives
MNB’s annual growth forecasts are significantly lower than the government’s
Morocco holds following drop in inflation
Central bank maintains policy rate at 2.25% as non-agricultural growth strengthens