Monetary Policy
Serbia cuts rates by 25 basis points
Decreasing global energy prices and refinery overhaul fuels disinflation
Malaysian central bank holds policy rate
BNM expects higher inflation later this year as government phases out fuel subsidies
Bank of Korea holds rate but signals possibility of future easing
Governor Rhee Chang-yong says the board can consider rate cut at “appropriate time” in the future
Turkey’s economic odyssey: inflation, lira decline and strategic shifts
Marcello Minenna delves into the damage of 20 years of ‘Erdoganomics’
Powell warns of commercial real estate risks
Fed chair tells Senate further cooling of the labour market could induce a rate cut
Aggressive monetary policy hits poorer harder – research
New York Fed authors find stabilising demand shocks has positive distributional outcomes
Quarter of central banks use tiered reserves remuneration
Corridor systems remain most common method of setting short-term interest rate
US labour markets approaching pre-pandemic state, report finds
Simple rules suggest fed funds rate should be at or below current level, report says
Minutes released with greatest lag in lower-middle income countries
Blackout period lasts seven days in most central banks
Romania cuts rates by 25 basis points
Disinflation is accelerating but effects of energy legislation changes are uncertain, central bank says
PBoC to start additional open market operations
Move could increase importance of seven-day reverse repo rate, some analysts say
Money-supply targetters account for lowest frequency of policy meetings
Upper-middle income central banks set policy and publish reports at highest frequency
Middle income monetary policy staff salaries fall behind peers
Officials in Europe and Africa tend to earn highest average annual income
MPCs largest in inflation-targeting central banks
Government reps attend meetings in two-thirds of jurisdictions with other regimes
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
Monetary policy budget averages under $2 million annually
Budgets larger in high income, upper-middle income central banks
PBoC to start borrowing government bonds as yields fall
Analysts expect central bank to sell in secondary market to stabilise yields
Briefing, analysis and research are monetary policy officials’ top duties
Average departmental staff remains below 40 persons
Half of central banks use forecast errors to assess policy impact
Surveys of expectations widely used but surveys of trust and understanding are less common
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
Canadian rate hikes may have lasting effects – research
Bank of Canada researchers find disposable income could decrease by up to 5% by 2027