Monetary Policy
Romer and Romer ask ‘does monetary policy matter?’ – again
Study based on “narrative approach” predicts major impact from recent Fed tightening
Email and social media most common two-way channels
Central banks in emerging market economies prefer social media to email
Brazilian governor rejects senator’s rate cut ‘plea’
Campos Neto says he leads a “technical body that makes technical decisions”
EMEs now coping better with financial market stress – BIS paper
Authorities have tackled old vulnerabilities, but trouble is springing up elsewhere
Argentina raises rates 300bp and restricts access to dollars
Peso falls sharply in April as inflation soars and BCRA struggles to obtain hard currency
Suriname president signs central bank independence law
IMF currently withholding loan payments to corruption-plagued country
Costa Rica cuts rates for a second time in a row
Inflation still above target but has fallen steadily since September, board says
Uruguay cuts rates citing ‘gradual decrease in inflation’
Country becomes second in Latin America to start unwinding rate rises
RBA review calls for major policy and governance changes
Australian government welcomes call for new rate-setting body and clearer mandate
Challenges ahead for Ueda’s easing commitment
BoJ governor’s plan to maintain monetary easing until 2% inflation is hit may not be easy, writes Sayuri Shirai
Lagarde warns fragmented world could be inflationary
“Multipolarity” could also raise global co-ordination challenges, ECB president says
Monetary policy faces tougher trade-offs – IMF panel
Financial instability risks may be abated with changes to inflation targets and tools
Global recession possible, Canadian governor warns
Tiff Macklem says firms are still raising prices excessively
Singapore’s central bank holds policy for first time since 2021
MAS warns of slowing economic growth for this year
Kganyago calls for lower inflation target and tighter policy
Sarb governor urges reform of South Africa’s troubled transport and electricity sectors
ECB has completed most of its rate hiking, says Villeroy de Galhau
Banque de France governor rejects trade-off between price and financial stability
Demand for better homes fuels unsustainable house prices – RBNZ study
Researchers say higher interest rates can reduce demand for better quality homes
FOMC members cut rate projections after banking turmoil
US labour market still too tight but banks’ problems may moderate demand, FOMC minutes say
US CPI falls to lowest level since May 2021
FOMC members hint at different views on next monetary policy decision
BSP governor says Fed should be ‘more caring’
But Felipe Medalla says Philippines accepts reality of having to react to US monetary policy
Eurozone faces risk of entrenched inflation – Villeroy de Galhau
Banque de France governor says higher core inflation indicates widespread pressures
Monetary easing appropriate for now, says new BoJ governor
Academic Kazuo Ueda takes over from dovish Haruhiko Kuroda
BoK pauses again as inflation slows
Governor Rhee Chang-yong warns against expectations of a rate cut this year
RBI pauses to assess effects of rate increases
Surprise decision comes as inflation remains outside the central bank’s target band