Growth
Central Banking Awards 2025: second group of winners unveiled
Awards recognise growth-at-risk research, transparency, digital transformation and more
‘Trump slump’ hedges rise on rate cut fears
One dealer notes five-fold increase in number of clients hedging against possibility of faster easing
Bigger housing booms create deeper downturns – IMF paper
Rapid home price rises can trigger big economic busts and misallocations of resources, authors find
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
Tighter policy in 2021 would have had ill effects – NY Fed study
Authors argue inflation would have fallen only modestly while global demand would have suffered
Thailand unexpectedly cuts rates as growth poised to slow
Domestic manufacturing sector faces “intense competition” from abroad, BoT says
High temperatures slow down economic growth – Banxico paper
Authors say Mexico is warming faster than other countries
Bank of Korea resumes easing and lowers GDP forecast
Cut of 25bp aimed at boosting economy as country grapples with US tariffs and domestic political drama
Tariffs will induce structural change in Canada – Macklem
Increased trade frictions with US will hurt country’s economy but represent “new reality”, says governor
People willing to pay more to curb business cycle – study
Survey data challenges assertion that consumers would only make minimal sacrifices
Mexico’s central bank halves growth forecast for 2025
Tariffs not incorporated in prediction model, but Banxico expects uncertainty to dampen investment
ECB board members express regret over QE stimulus
Cipollone says unwinding balance sheet thwarts rate cuts, while Schnabel wants “less activist” bank
China to focus more on consumption, says PBoC governor
Pan Gongsheng wants domestic demand to be “key driver of growth”
China to make use of all monetary tools to boost growth
PBoC flags external volatility and renews pledge to support economy in quarterly report
BoJ governor: food inflation in Japan may not be temporary
Ueda’s comments mark slight change from previous statements that supply factors would dissipate
Central bankers from Americas respond to Trump’s tariff shock
Canadian, Mexican, Colombian and Fed governors speak of post-Covid realities at BIS conference
Fed can afford to wait on rates, say regional heads
Atlanta and Chicago presidents say uncertainty over economy means it’s too soon to talk of more cuts
Trump reverses course on Fed decision
US president says central bank was right to hold rates in January
Fed holds rates amid pressure from White House
Powell says he has had no contact with Trump since president said he would “demand” easing of policy
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
Bank Negara Malaysia holds policy rate
Central bank has left key rate unchanged for 20 months against backdrop of strong growth
PBoC holds key lending rates
Move comes after China hit 5% growth target for 2024, but analysts expect further easing this year
2025 capital market expectations: slowing but not sinking
Monetary policy is the governor of the relationship between growth and inflation
Bank of Korea unexpectedly holds policy rate amid political turmoil
Central bank cites need to assess political developments and incoming US administration’s policies