Monetary Policy
Canada cuts rates amid rising joblessness and sticky inflation
Experts say state of economy puts central bank in a difficult position as it eases by 25bp
BI makes third surprise cut as lawmakers mull its mandate
Bank says 25bp easing aimed at promoting growth, pledges further monetary-fiscal policy alignment
BoK meeting minutes show sole dissenter favoured rate cut
Board members agreed economy showed signs of recovery, but majority voted to hold
New taxonomy of operating frameworks from BIS economists
Two-dimensional approach captures “surprising similarities” between different methods
Riksbank deputies say rate forecasting key to transparency
Officials say advantages of openness outweigh drawbacks
National Bank of Serbia holds rates
Summertime inflation warrants restrictive policy, central bank says
Russia eases by 100bp in third consecutive rate cut
Governor says decision was warranted by falls in both inflation and economic activity
Liquidity impairment harms policy transmission – BIS paper
Authors say QE may be more potent in times of market stress
European Central Bank holds rates
Staff’s new projections look “similar” to those published in June, Lagarde says
SNB to publish minutes of policy meetings in transparency push
Summaries of discussions will put Swiss central bank in line with its global peers
US faces recession unless trade tensions abate – economists
Experts expect Fed to cut rates as economy experiences first job losses since 2020
Canada set to cut rates, given soft labour market – economists
Concerns over rising unemployment outweigh stagflation risks, say experts
Bar for going back into negative rates is high – SNB chair
Schlegel says impact on pensions and savers means caution would be warranted
Poland cuts rates by 25 basis points
Economy continues to grow thanks to domestic demand, central bank says
More economists expect MAS to ease policy next month
Singapore survey finds most still expect no change to country’s currency exchange band
Malaysia holds policy after sanguine economic forecasts
Central bank says trade uncertainties remain but have abated somewhat
Tariffs may lower the natural interest rate – research
Increased trade costs reduce demand for capital, say authors
No ‘race to the bottom’ if Fed is forced to cut – Schnabel
ECB board member says politicised US central bank would be “very disruptive”
BoJ deputy governor says policy should be tightened further
Ryozo Himino says real interest rate remains low, despite three hikes since last year
Thai central bank warns country’s SMEs vulnerable to US tariffs
Bank of Thailand monetary policy committee signals further easing likely, minutes show
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
Professor says Fed must defend its post-Covid credibility
Jackson Hole speaker Emi Nakamura talks credibility, tariffs and independence
Philippines eases policy 25bp to 5% ‘Goldilocks zone’
BSP governor says one more cut likely this year as bank cites risks posed by US trade policy