Debt
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
El Salvador congress approves use of SDRs for early debt repayment
Talks with IMF stalled as country tackles $24 billion debt load
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
Argentina accelerates tightening with 800bp hike
Central bank says it aims to make real rate positive as president reshuffles government
Ghana seeks IMF aid as reserves dwindle
Government secures Afreximbank loan and MPC holds rate despite inflation nearing 30%
BoJ unlikely to move policy to counter yen weakness
The Bank of Japan is wary of raising rates or even increasing its yield control target to tackle yen depreciation, which it views as being exacerbated by foreign speculators, writes Sayuri Shirai
Millions stolen from central bank, Surinamese authorities say
Finance ministry official arrested as Dutch academic says corruption prevents central bank from functioning
Eurozone debt likely unsustainable without QE – BIS paper
Authors find benefits of ECB’s PEPP extend beyond the end of the bond-buying programme
Corporate debt is a growing threat to financial stability
Policy-makers need to take action as tighter financial conditions risk tipping firms into distress, says Pedro Duarte Neves
Australians can bear rising borrowing costs – RBA deputy
But Michele Bullock warns of greater financial burden for recent homebuyers
Bank of Ghana denies rationing FX
Bloomberg made claim in June article citing swelling fuel import bills
Labour supply key to understanding inflation, Shin tells G20
Understanding labour market is critical task for policy-makers, BIS head of research says
Myanmar orders halt to foreign debt payments
Authorities order wider range of partly foreign-owned companies to sell FX to central bank
Chinese regulator urges banks to fund housing projects
Some analysts argue it is time for Beijing to intervene more forcefully
Knot says financial stability risks are growing
FSB chair says emerging economies are particularly vulnerable as financial conditions tighten
Sri Lankan governor warns of danger to IMF deal as chaos mounts
Weerasinghe says talks over IMF bailout package must continue, as president tries to flee country
Nagel lays out conditions for ECB anti-fragmentation instrument
Bundesbank president says it should be temporary and only used in “exceptional circumstances”
Bank of Canada deputy stresses heterogeneity’s role in monetary policy
Debt may complicate tightening cycle, as Canadian consumer inflation expectations rise
G30 warns US Treasury market remains vulnerable
Group says US regulators need to do more to prevent dysfunction in the critical market
Hungary makes shock 185bp rate increase
Central bank responds to inflation and weak forint with largest increase since 2008
IMF approves $4 billion payment for Argentina
Country passes first IMF review, but reserves have declined in recent weeks
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing
Bolivian central bank wants to become sole buyer of gold
Proposal would allow BCB to use gold reserves as collateral or swap them for foreign exchange