Central Banking
Turkey raises policy rates for fourth consecutive time
Foreign exchange rates little changed, despite president’s commitment to tight monetary policy
OECD says interest rates should stay high ‘until well into 2024’
Report says monetary policy needs to stay tight until underlying inflationary pressures are lowered
IMF members will meet SDR interest payments, says paper
Fund publication notes interest rates on SDR rose sharply in last two years
Second Ecuador candidate promises to spend reserves
Both candidates now plan to raid central bank, despite 2021 law banning financing
BoJ keeps negative rates unchanged
Ueda says more time is needed to assess whether rising wages are supporting inflation
Inflation behaves differently across income levels – BIS paper
Study finds various channels are behind uneven responsiveness of inflation to monetary policy
FOMC members’ narratives add value to projections, finds paper
Both staff and FOMC members 'projections aid forecasting, refuting Romer and Romer
Riksbank and Norges Bank continue increasing rates
Swedish central bank hikes rates to 4%, Norwegian to 4.25%
Latin America roundup: Brazil makes second 50bp rate cut
Paraguay eases rates down, while Costa Rica holds as negative inflation continues
Bank of England pauses for first time since December 2021
MPC votes 5–4 to halt cycle amid slowing inflation and a sluggish economy
SNB surprises markets by holding rates at 1.75%
Swiss central bank to allow all banks to use mortgages as collateral to access liquidity
Asian central banks hold rates
Philippines, Indonesia, Taiwan and Hong Kong stay put
Canadian official says mortgage rates not big cause of inflation
Kozicki says taking home loans out would make only small dent in core reading
Federal Reserve holds rates and revises projections upwards
Powell says path for soft landing has “widened apparently”
Colombian research offers advice on modelling Covid-19 shock
Pandemic is challenging to model due to its transitory impact, authors say
Pandemic may have altered US credit score reporting – paper
Government support and spending changes improved many individuals' ratings, researchers find
People: Former MAS managing director Hu dies
New chair for Kenya central bank’s board; new member of BoE court; and more
QE crowds out bank loans – NBER paper
Asset purchases generate “counterproductive” cut in lending to firms, authors find
PBoC holds key lending rates
Central bank official says data shows recent easing measures are taking effect
Inflation battles often last more than five years, IMF paper says
Disinflations usually do not need prolonged falls in output, employment or wages
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
FSB proposes global standard to tackle failed CCPs
Report warns authorities not to rely on any single tool but adopt a “toolbox approach”
Critic urges UK to leave China-based lender
Treasury says UK will stay in AIIB as ex-official calls some employees “useful idiots”
IMF and World Bank to go ahead with Marrakech meetings
Leaders say they wish to stand by Morocco after earthquake killed nearly 3,000