Monetary Policy
Bank of England cuts policy rate to 4.75%
Policy committee votes by 8–1 to reduce bank rate by 25bp
Brazil maintains tightening stance with 50bp hike
Policy committee cites strength of economy and external uncertainty as reasons for unanimous decision
BIS paper explores how AI can predict asset demand
Better data availability and modelling techniques help central banks evaluate market reaction to QE
Reserve Bank of Australia holds policy rate again
Central bank says underlying inflation remains “too high”
Argentina reduces policy rate for first time since May
Analyst says 500bp cut means country is unlikely to lift currency controls soon
State Bank of Pakistan cuts rates by 250bp
Fourth consecutive reduction comes one month after IMF begins disbursing $7 billion funding package
Colombia cuts rates by 50bp in split decision
Recent constitutional reform bill could hurt fiscal sustainability, says central bank
Exact inflation at 2% not ‘realistic, nor necessary’ – BdF governor
Villeroy de Galhau says central banks should advocate for structural policies
BoJ holds policy rate
Central bank highlights need to monitor US economic developments and domestic data
Savings dampen monetary policy effectiveness – Fed paper
Central banks should track excess saving at a high frequency, authors recommend
Policy tightening reduces labour productivity and presence – paper
Lower participation and labour supply have inflationary effects, Bank of Canada authors find
Thai government and BoT agree to keep inflation target intact
Central bank and government reach price goal consensus despite a year of tensions
ECB paper finds asymmetric spillover from US monetary policy
Tightening episodes affect emerging markets more than expansionary episodes do, say researchers
‘No compelling case’ for a Eurosystem dot-plot – Nagel
Bundesbank president says uncertainty needs to be communicated more clearly
Armenia cuts interest rate to 7.25%
Economic activity softens in third quarter
Mamo Mihretu on the radical reform of central banking in Ethiopia
Ethiopian governor speaks about simultaneous monetary policy and exchange rate reform, opening the country’s financial system and a fundamental reset for Africa’s second most populous economy
IMF panellists debate need for updated policy frameworks
Policy frameworks should be informed by pandemic lessons, say central bankers
PBoC launches new reverse repo operations
Injections via new liquidity tool could help offset maturing central bank loans to banks in fourth quarter
Norges Bank governor explores monetary policy trade-offs
Demand channel requires greater unemployment than currency channel, Bache argues
Russia hikes rates by 200bp
Central bank is forced to update its outlook in face of soaring inflation
Bank of Canada cuts policy rate by 50bp
Governor says further cuts likely as bank puts emphasis on keeping inflation stable
ECB could go below r* when setting policy, says Panetta
Bank of Italy governor says eurozone has to return to “normal way of doing monetary policy”
How to allocate rate hikes ‘keeps me awake 24/7’, says BoJ’s Ueda
Governor reflects on past steps in policy normalisation and Japan’s ageing population