Fiscal policy
Fiscal policy may complicate fight against inflation, says Macklem
Bank of Canada governor warns projected spending may ‘not be helpful’ for monetary policy
Claudio Borio on financial cycles, operating frameworks and non-bank reform
The BIS veteran highlights a ‘unique constellation’ of challenges as central banks travel the ‘last mile’ in bringing down inflation – and says there are many more miles to go on non-bank reform
Ex-governor backs candidate who wants to abolish BCRA
Guido Sandleris says ‘continuity of Kirchnerism’ would be worse for Argentina
Russia raises rates, Ukraine lowers them
High domestic demand pushes up prices in both countries
Hungary continues loosening as inflation falls towards 10%
MNB cuts base rate by 75 basis points
China boosts support for economy with new debt issuance
The central government will issue one trillion yuan in bonds in the fourth quarter
Eurozone budget deficit declined in 2022
Government imbalances declined to 3.6% of GDP from 5.2% in 2021
UK researchers propose 3% inflation target and negative rates
Inflation stalls at 6.7% in September, the same figure as in August
Argentine candidate promises opposition seats on BCRA board
Massa promises to renegotiate IMF loan as country heads to the polls on October 22
Ecuador president-elect sends mixed signals on central bank raid
Noboa pledged to spend $1.5 billion, but later said this would only be in emergency
Kenya to buy back $500 million in Eurobonds
Central bank governor says country will seek ‘exceptional’ IMF funding
RBNZ continues to hold policy rate
MPC suggests the rate will stay put for some time
Ghana’s governor rejects opposition calls to resign
Addison says central bank only used monetary financing to respond to crisis
Thai PM meets governor after unexpected rate rise
BoT said new government’s spending package is an inflation risk, as currency falls
Germany needs tighter fiscal policy, Nagel says
EU Stability and Growth Pact should have stricter fiscal rules, Bundesbank president argues
BoT unexpectedly raises policy rate by 25bp
Central bank cut inflation and growth forecasts for 2023, but raises next year’s projections
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
Nigerian senate confirms governor and deputies
President’s nominees took over as acting officials last week after former deputy governors resigned
Bolivian reserves reaching critical levels, say experts
Central bank is depleting gold stocks to pay debt while monetary financing continues
Ghanaian MPC holds rates while Guinea opts for 50bp rise
Addison says Ghana’s growth will outstrip IMF forecast but reserves remain extremely low
South Africa and Egypt both hold policy rates
Sarb governor says job of fighting inflation “is not yet done”
Second Ecuador candidate promises to spend reserves
Both candidates now plan to raid central bank, despite 2021 law banning financing
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
ECB criticises Italy’s windfall tax on banks
Central bank warns measure could hamper monetary transmission and weaken lenders