Inflation
UK inflation comes in higher than expected
Markets’ reaction muted so far, as government prepares to announce budget on October 28
Lagarde sees slower pass-through after bond sell-off
Higher yields will limit knock-on effects from energy shock, ECB president tells IMF meeting
French prices half as sensitive to oil as in 2016 – BdF blog
Lower household fuel use and less oil-intensive production reduce pass-through to consumers
Big Mac price never catches up with dollar – Dallas Fed blog
Prices barely adjust to currency swings even after four years, economists find
Warsh: I’ve focused too much on monetary policy
Fed chair vows to pay more attention to supervision, payments systems and consumer affairs
Little evidence of second-round inflation in UK – Bailey
BoE governor says economy more resilient than expected, amid signs of AI investment
Tighter financing and high oil prices dominate Fed Beige Book
But strong variations exist between districts
Venezuela seeks shift to inflation targeting in medium term
Minister says dollarisation not ‘right answer’ and debt sustainability analysis to be published soon
Pre-emptive policy has built credibility, says Georgian governor
Enriched monetary policy toolkit assesses whether shocks are transitory in a volatile world
Fiscal consolidation still possible in France – Moulin
BdF governor says Europe facing twin shock from surge in energy costs and bond yields
Singapore surprises with pause in tightening cycle
MAS says decision made against backdrop of rising inflation, but expects price growth to slow next year
Hammack: explaining Fed moves is accountability via transparency
Cleveland Fed CEO says setting out the reaction function is not the same as forward guidance
BoK to review use of dot plot it debuted this year – Shin
Governor aims to find forward guidance ‘sweet spot’ and says any review will wait until at least next year
Resilience is watchword in IMF’s World Economic Report
Tenreyro says sources of oil, trade and tech inputs should be diversified if economies are to withstand shocks
Monetary policy must be more agile during AI transition – study
Bank of Italy paper says inflationary developments offer more reliable guide than long-term r*
Tanzania, DRC and Kenya keep rates on hold
Countries face different risk factors, though Middle East conflict remains common thread
Uruguay raises rates for first time in 18 months
Central bank says hike is ‘proactive’ measure to mitigate risk of inflationary pressures spilling over
China hits back at criticism of yuan policy
PBoC denies devaluation claims, says other nations are responsible for their declining competitiveness
Peru unexpectedly holds rates amid rising inflation
BCRP maintaining ‘hawkish stance’ by leaving open possibility of rate adjustment, economist says
Philippines’ FX reserves fall to three-year low
BSP says levels sufficient following period of currency interventions and devaluations
Rising inflation prompts first RBI hike since 2023
Bank announces shift to calibrated tightening, with near-term rate cuts ‘off the table’