Monetary Policy
ECCB launches new website
Updated site accompanies “virtual museum” on Eastern Caribbean Central Bank
BoJ announces details of monetary policy review
Central bank plans to engage with experts, business leaders and public over policy framework
PBoC holds key rate amid lacklustre GDP growth
Chinese economy grew 6.3% in second quarter, missing expectations by a full percentage point
Bank of Canada raises rates despite falling inflation
Governor warns progress towards price stability “could stall”
ECB’s monetary policy is taking effect rapidly, says Lane
But chief economist warns tighter financing conditions could cause eurozone contraction
South Korea’s central bank holds rates steady again
Governor says board agreed restrictive policy should continue for a considerable time
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