Monetary Policy
Advanced economies more likely to publish minutes
Average central bank publishes minutes around two weeks after a policy decision
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Bank of Canada raises rates 25bp
Central bank now predicts inflation will return to its 2% target in mid-2025
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates
RBNZ halts tightening cycle
Central bank says policy rate will need to remain at a “restrictive” level for some time
Proportion of central banks observing blackout period rises
AE respondents remain much more likely to employ the practice
Bank of Israel halts tightening cycle
Central bank signals it could raise rates further if inflation does not continue falling
Monetary policy press conferences held four times a year on average
Minority of central banks say they organise zero press conferences
Weak krona increases inflation risk – Riksbank minutes
Board members agree inflation remains too high and policy needs to be tighter
Central banks average four forecast updates a year
Final decision on projections jointly taken by policy-makers and staff in most jurisdictions
Some Fed officials wanted to raise rates in June, minutes show
‘Almost all’ FOMC participants expect to increase the target interest rate this year
Uruguay cuts 50bp as inflation falls
Headline and core readings are lowest for several years, as officials predict slight GDP decline
Mexican MPC members determined to hold rates
All five governing board members agree it is necessary to avoid rate cuts to tame inflation
Is corporate pricing causing ‘greedflation’?
Firms in US and Europe are driving inflation higher by imposing above-cost mark-ups, researchers say
Malaysia’s central bank holds policy rate
Decision comes after headline inflation fell to one-year low but core inflation remains higher
US pandemic savings depleted by Q1 2023, says Fed research
Other advanced economies should expect pandemic-era savings to deplete within the year
Monetary policy staff numbers average below 40
European institutions and advanced economy central banks tend to have highest number of staff
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Inflation targeters tend to pay monetary policy staff more
Salaries tend to rise with GDP per capita but less developed economies pay larger multiples
Cracks open in ECB’s governing council
Italian governor warns against excessive tightening as Bundesbank president insists rates must be higher
Confidentiality of policy votes remains common practice
Proportion of central banks revealing voting information with a lag creeps up
RBA keeps policy rate steady
Decision comes after Australia’s inflation slows in May
ECB expresses concern over draft Belgian laws
Minimum saving account rates could harm financial stability and policy transmission
Monetary policy reports usually published four times annually
Institutions from Africa tend to release fewer publications