Monetary Policy
Bank of Ghana adds 100bp as crises grind on
IMF reportedly wants end to central bank financing
Colombia says tightening cycle may be nearing end
Central bank board splits 5–2 on 75bp rate hike
Stefan Ingves on leadership, prudential oversight and transparency
Riksbank veteran talks about Basel III, policy lessons and CBDCs
Canadian governor rules out early rate cuts
Macklem says bar for rate rises has risen and he cannot rule out “mild recession”
Sarb slows rate rises as South African economy falters
Blackouts may cost up to “two percentage points” of growth this year, central bank says
Fed rate-setters differ over US labour pressures
Waller says labour market is tight, but Brainard says no sign of overall wage pressure
Brazilian ex-deputy governor says inflation target too low
Mandatory public spending means Brazil will have higher inflation than peers
New Zealand opposition leader says he would end dual mandate
National Party chief says he will drop employment target and tell RBNZ to concentrate on inflation
BoJ should consider ending yield curve control – IMF
Fund warns inflation risks could force central bank to take “much stronger” action
Rates round-up: Canada to pause after 25bp rate rise
Thailand ups 25bp; Nigeria increases sharply; Angola opts for cut; and more
Pakistan raises rates 100bp amid reserves crisis
Reserves now only enough to cover about three weeks of imports
Colombia finance minister says no more rate hikes needed
Ocampo says December inflation figure of 13.1% was the peak level
Malaysian central bank holds rates while Indonesia hikes again
Both countries report marginal rises in inflation and BNM warns of global growth slowdown
“Make-up” strategies may boost monetary policy, says paper
Price-level and average inflation targeting regimes stabilise import-related inflation, researchers find
Monetary tightening has ‘rapid’ effect on spending – BIS paper
Study finds conventional policy tools have bigger impact on consumption than unconventional ones
Bank of Japan defies expectations of yield curve change
Governor says it will take time for last month’s yield curve tweak to play out
S&P worried about Israeli plans to use SWF funds, says report
Finance ministry says no bill has been prepared
BoE paper finds non-banks act as global stabilisers
Non-bank firms help dampen the impact of US monetary policy spillovers, authors find
Serbia continues rate increases
Inflation stalled in double-digit range as central bank battles “second-round effects”
The always imminent demise of the global dollar
Creating effective alternatives will remain long and arduous despite China’s development of Cips, the mCBDC bridge and any oil-price redenomination, writes Barry Eichengreen
Fed presidents in chorus for smaller rate hikes
Harker, Daly, Collins and the departing Evans all signal preference for 25bp in February
Bank of Canada may be set for billions of losses
Think-tank warns losses could pose reputational risk for central bank
Bank of Korea raises policy rate to 14-year high
Two central bank board members voted to hold the rate steady