Inflation targeting
RBA’s Lowe defends record, but admits some mistakes
Outgoing Australian governor says guidance was wrong but that media worsened policy debate
Colombian government and private sector issue joint call for cuts
Finance minister talks of “economic deceleration”, but inflation is still in double digits
Chile continues rate cuts
Central bank lowers policy rate as economy shows signs of slowing
Israel holds rate, but signals more hikes still possible
Yaron denies report he will not seek new term
Uruguay accelerates loosening as inflation hits record low
Central bank says monetary policy remains in “restrictive phase”
Egyptian president gives acting governor one more year
Abdallah has continued programme of tighter monetary policy and devaluation
Kenya revives interest rate corridor
Controversial 2016 law capping rates undermined earlier attempt at corridor
Uganda cuts rate for first time since 2021
Central bank head refuses to comment on World Bank decision to halt funding
Ghana opposition demands governor resign
Parliamentary leader threatens march after Bank of Ghana reports $5.4 billion loss
DRC orders huge policy rate rise at unscheduled meeting
Increase is needed to combat accelerating currency depreciation and inflation, MPC says
Brazil split decision not a problem for central bank credibility
Central bank voted 5–4 for larger-than-expected cut
Brazil makes first rate cut in cycle
Board divides 5–4 over size of reduction, with majority backing larger 50bp option
Malawi raises rates as inflation continues climbing
Russia-Ukraine war and adverse weather events exacerbating food inflation
Bernanke to lead BoE review of inflation forecasting
Former Federal Reserve chair will work with Bank of England officials
Costa Rica cuts rates again as inflation turns negative
Strong currency and base effects contribute to unusual readings, central bank board says
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Canada opposition leader repeats promise to fire governor
Poilievre accuses government of interfering in central bank
Russian central bank raises rates and warns of more to come
Nabiullina says inflationary pressures are rising and warns of effects of bigger fiscal deficit
Sarb pauses rate rises in split decision
MPC votes 3–2 to hold rates at 8.25% after inflation falls within target range
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed