GDP
Controversial nominee joins Paraguayan board
Central bank continues tightening process with fourteenth straight hike as inflation slows
IMF says it will not provide loans for Zimbabwe
Fund urges central bank to cease “quasi-fiscal operations” as official inflation reaches 285%
Guatemalan central bank orders 25bp hike
Central bank raises rates to highest level since 2017
Mongolia makes 200bp hike
Central bank has doubled rates since start of year
Economy’s ‘first responders’ now in the line of fire
Forceful but late interventions to combat inflation raise the risk of central bank overreactions
Costa Rica continues tightening with 100bp increase
Central bank cites concerns about rising inflation expectations and second-round effects
IMF unlocks $31.9 million for Madagascar
Natural disasters and oil price rises increased fiscal deficit
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Guatemala and Dominican Republic raise rates
DR says inflation is “moderating” and economy is strong; Guatemala notes second-round effects
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
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*
Romania continues tightening cycle with 75bp rise
Eighth consecutive increase comes as headline inflation passes 15%
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
Costa Rica makes largest hike since 2010
Central bank predicts that inflation will not reach its target range until 2024.
Kazakhstan orders 50bp rate rise
Unlike neighbours, Kazakhstan continues tightening with eight hikes since last July
Sarb orders largest rate rise since 2002
MPC orders 75bp increase as currency weakens and inflation surges
Uzbekistan lowers key rate by 100bp
Central Asian country follows Russia in reversing rate increases from start of invasion of Ukraine
Myanmar orders halt to foreign debt payments
Authorities order wider range of partly foreign-owned companies to sell FX to central bank
Bank of Uganda raises rates 100bp at unscheduled meeting
Move is second increase in as many months as governor’s post remains unfilled
Uruguay continues ‘contractionary’ monetary policy
Eighth consecutive rate hike is smallest since last November