Growth
Peru’s central bank continues sharp monetary tightening
BCRP revises up inflation expectations and hikes reference rate by 50 basis points
Lagarde signals first ECB rate hike in July
Nagel stresses risk of acting too late, as Villeroy says fiscal-monetary alignment no longer possible
Chilean central bank surprises markets with a larger rate hike
Board unanimously decided to increase the policy rate by 125 basis points to 8.25%
Central Bank of Brazil takes main rate to 12.75%
Committee signals it is likely to continue increasing rates at its next policy meeting in June
BoE raises rate to 1% as recession risks mount
Inflation expected to climb above 10% and GDP growth to drop to around zero
Icelandic central bank implements largest rate hike since 2008
Despite 100bp rate hike, policy-makers signal more tightening will be needed in coming months
RBA hikes for first time in over 10 years
Philip Lowe says RBA will also allow the balance sheet to shrink, as inflation rises more than expected
PBoC focusing on grain and energy to stem inflation
Price stability in grain production and energy supply key to growth, says governor
Climate transition set to boost inflation, finds Swedish research
Sveriges Riksbank analyses main inflationary forces stemming from climate policies
IMF raises red flags for global growth
Fund warns of global fragmentation as it cuts growth forecast and predicts higher inflation
PBoC announces policies to help pandemic-stricken economy
Package of 23 measures echoes actions taken in 2020
Central bank of the year: Bank of Korea
South Korea’s central bank was the first developed-world central bank to tighten policy to address inflationary risks
Economics Benchmarks 2021 – presentation
Central Banking’s economics subject matter specialist Daniel Hinge speaks with Chris Jeffery about governance, modelling, forecasts and research
China holds loan prime rates
One-year remains at 3.7% and above five-years at 4.6%
Bank of England raises policy rate to 0.75%
Energy price shocks could push headline inflation higher than previously forecast, BoE says
Fed triggers lift-off with 25bp hike
FOMC cuts economic growth projections for 2022 but proceeds with tightening
Central Bank of Costa Rica accelerates tightening cycle
Larger rate hike comes as invasion of Ukraine adds to existing inflationary pressures
Armenian central bank hikes rate by 1.25 percentage points
Policy-makers choose “relatively large” rate hike despite hit to growth from Russia-Ukraine conflict
Book notes: Shutdown, by Adam Tooze
A useful, wide-ranging overview, showing how health and economic policies are intimately intertwined with geopolitics
Hong Kong recovery expected to slow – IMF
Fund warns of risks including exposures to Chinese real estate and further supply disruption
Economists warn Latin America faces another lost decade
Continent is “halfway to a lost decade already”, says World Bank’s Carmen Reinhart
Bank of Canada raises policy rate
Hike marks end of ultra-loose policy imposed in response to Covid-19
FOMC’s January minutes hint at policy actions and inflation fears
Committee signals determination to end asset purchases in March and raise the funds rate