Central Banking
Markets starting to reflect ‘tenacious’ inflation, says BIS
Swings in markets highlight investors’ struggle to understand outlook, quarterly review says
US needs tighter policy, former senior Fed adviser says
Higher rates will cause little damage to supply chains, David Wilcox argues
Social media: an essential tool for central bank communication
Strategies to secure popularity, comprehensibility and reputation as new media takes centre stage
Russian central bank cuts rates again but Nabiullina warns over deficit
Higher structural deficits would force central bank to raise rates, governor says
Norges Bank, Riksbank and SNB expected to raise rates
High inflation and ECB tighter policy stance put pressure on eurozone’s neighbours
Argentina continues rate rises
Central bank increases headline rate by 550bp to 75%, but inflation continues to rise
Haitian banks suspend operations
Banks close as Caribbean country is rocked by fuel protests and inflation hits 10-year high
Paraguayan ex-governor objects to central bank board nominee
Union claims appointment of finance ministry official would damage independence
Old people hit hardest by inflation, research finds
Authors find income effects and “Fisher channel” have the biggest impact on Spanish households
Navigating a new, complex economic environment
In 2021, net assets in exchange-traded funds (ETFs) stood at almost $10 trillion, after inflows of more than $1 trillion
ECB could bring rates close to 2% by year’s end, says French governor
François Villeroy de Galhau estimates eurozone’s neutral rate is below or near 2%
West Africa central bank orders second rate rise of 2022
MPC says drought, unrest and global commodities shocks are driving up inflation
US may release frozen Afghan central bank funds – report
Plan would transfer up to $3.5 billion to the BIS under third-party supervision, source claims
IMF paper explores second-round effects of oil shocks
Authors find oil shocks have greater impact where inflation is already high
Costa Rica continues tightening with 100bp increase
Central bank cites concerns about rising inflation expectations and second-round effects
PBoC holds key interest rate unchanged
State council defers some firms’ tax payments and says it will increase support measures
More reserve managers use ETFs
Debate around how investor and ETF behaviour interact during times of market stress continues
Summers and Krugman see no alternative to ECB tightening
Despite lack of overheating, huge energy shock requires action to anchor inflation expectations
Irish central bank will still exchange old banknotes and coins
Authorities take opportunity to remind public that UK paper £20s and £50s are expiring
IMF unlocks $31.9 million for Madagascar
Natural disasters and oil price rises increased fiscal deficit
CBDCs require increase in cyber security budget – BIS survey
Central bankers deem financial sector underprepared for cyber attacks
UK inflation dips below 10%
Lower fuel costs bring down headline figure, but underlying inflation remains strong
BoJ conducts FX rate check amid falling yen
Analysts question whether FX intervention is feasible without monetary policy shift
Liechtenstein judge confirms he is investigating Lebanese governor
Salameh is now subject of several judicial probes as central bank ends petrol subsidies