Monetary Policy
BoE opens sharia-compliant facility after six years of work
‘Wakalah’ liquidity facility designed to address disadvantage faced by Islamic banks
Book notes: Empire of silver, by Jin Xu
A useful introduction to China’s monetary history, focusing on the last 1,000 years, but not the easiest of reads throughout
Monetary policy’s potency may wane over time – BIS paper
Low rates might cause aggregate demand to become less sensitive to monetary stimulus, authors say
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
Has the SNB accepted a stronger franc?
Swiss central bank reduces FX interventions as currency breaks 1.05 ceiling against the euro
Hungary central bank widens rate corridor to create ‘room for manoeuvre’
“Asymmetrical” rate corridor designed to allow central bank to tighten policy quickly
Eurozone inflation hits record high of 4.9%
ECB expected to clarify the future of its stimulus programme on December 16
Kenya’s central bank highlights growth rebound in 2021
Inflation has fallen to 6.5% following government stabilisation efforts to stem fuel prices
Kyrgyzstan raises rates again after lull
Central bank orders 50bp hike amid double-digit inflation
Colombian central bank leaves inflation target unchanged
Rise in inflation is likely to prove transitory, board says, as it sticks to 2% to 4% range
Sri Lankan central bank holds rates despite rising inflation
Authorities face FX crisis as prices increase at fastest level in four years
Zambia raises rates for the first time since 2019
Year-on-year inflation falls but remains well above central bank’s target level
Bank of Korea raises rates again as inflation climbs
Governor Lee Ju-yeol says he will not rule out another hike in the first quarter of 2022
Dominican Republic’s central bank raises interest rates
Central bank forecasts inflation will reach target by mid-2022 after “gradual” decline
Swedish central bank announces end to net asset purchases
Sveriges Riksbank forecasts it will not raise rates until 2024, saying inflation rise is temporary
Fed's monetary policy ‘spillbacks’ have significant effects – ECB paper
Researchers estimate how impact of Fed policy on foreign economies in turn affects US
Taiwan’s central bank to ‘follow tightening trend’ next year – governor
Central bank has maintained a record-low rate for six straight quarters
RBNZ continues tightening as inflation approaches 5%
Rising commodity and transport costs see central bank overshoot 2% inflation target
Paraguay continues tightening with second 125bp hike
Inflation rises far above 4% target, reaching 7.6% in October
Weidmann clashes with Lagarde on policy outlook
Bundesbank president said policy may have to tighten just after Lagarde said it would likely stay loose
State Bank of Pakistan hikes interest rate by 150 basis points
IMF reached “staff-level” agreement with Pakistan for long-awaited loan two days after the hike
Final frontier? Japan after the Kuroda experiment
The Bank of Japan has pushed monetary easing close to its limit, yet inflation is barely above zero. What happens now?
Lagarde says ECB policy is likely to stay loose in 2022
ECB president says eurozone must not “rush into a premature tightening”