Expectations
Inflation uncertainty reaching historic high in US – research
Richmond Fed economist says inflation expectations and uncertainty are rising dramatically
Policy should respond to long-run expectations – Fed study
Such a framework would enhance price stability, paper argues
Inflation expectations rising due to tariffs – BoC’s Macklem
Governor says Canada’s central bank will pursue policy that works in multiple scenarios
Iceland and Switzerland cut rates, while Sweden holds
Central banks highlight global developments and high levels of uncertainty
Risk of inflation de-anchoring is higher in US than Canada – study
Authors say risk has also risen for both countries post-Covid
The interest rate dilemma in an uncertain world: a balancing act
Biagio Bossone makes the case for a holistic policy approach that includes extending IT tolerance bands, smart fiscal policies, supply-side reform and financial safeguards
Trust in Fed leads to lower inflation expectations – study
Political alignment shapes perceptions of central bank and views on economic outlook, NBER paper finds
BoJ governor: food inflation in Japan may not be temporary
Ueda’s comments mark slight change from previous statements that supply factors would dissipate
Brazil again raises rates by 100bp
BCB signals further rises amid persistently high inflation and lingering concerns over public finances
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Distributions allow better state-level forecasts – RBI paper
Authors find new method incorporating inflation and expectations can cut forecast errors
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
The BoJ’s path to policy normalisation
Will the Bank of Japan be able to normalise monetary policy following its successful exit from negative rates?
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
Bank of England to review UK clearing rules
Broader collateral set and greater margin transparency could be adopted from Emir 3.0, but not active accounts requirement
Central banks to maintain independence despite threats – panel
Top central bankers discuss Trump, AI and why they plan to ignore IMF on rate cuts
Portraits on banknotes: a study of the gender gap
Only Australia’s currency has gender parity; overall, less than 10% of portraited banknotes – excluding Elizabeth II – feature female images
Mamo Mihretu on the radical reform of central banking in Ethiopia
Ethiopian governor speaks about simultaneous monetary policy and exchange rate reform, opening the country’s financial system and a fundamental reset for Africa’s second most populous economy
The Fed can afford to loosen policy
As (nearly) the world’s most hawkish central bank, the Federal Reserve is right to start monetary loosening, writes Steve Kamin
LatAm rate hikes consistent with pre-Covid strategy – BIS paper
Region’s central banks did not become more hawkish during pandemic, researchers argue
All eyes on the Fed
The US central bank faces a challenging path to fulfil its mandated goals
Banknotes: July to September 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Campos Neto on inflation targeting, independence and the future of financial intermediation
The Brazilian governor speaks with Christopher Jeffery about tackling inflation, the need for financial autonomy, and redefining the financial landscape with open finance, programmable Pix, deposit tokenisation and sound cross-border payments governance