Inflation
China’s new loans rebound as PBoC focuses on growth
PBoC maintains focus on growth but possibility of reserve ratio cut in April has eased
Consensus over Fed inflation target shifted during Great Recession – San Fran Fed
Up until the 2008 crisis, most FOMC participants preferred a 1.5% target, researchers find
Venezuela removes eight more tonnes of gold from central bank
Regime could exhaust gold reserves in 2019 if sales continue at current rate
FOMC’s normalisation ‘largely successful’, St Louis Fed president says
Fed must “tread carefully” though, as inflation and yield curves offer challenges, Bullard says
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
The turmoil test for emerging and advanced economies
Greater integration between advanced and emerging market economies during globalisation has made both more susceptible to risk of spillover – financial contagion and volatility. As the US continues to normalise its monetary policy, deputy governor of…
Zimbabwe signs agreement with IMF to strengthen macro framework
New agreement will complement government reforms to foster macro stability amid high inflation
Chinese inflation rebounds amid easing of monetary policy
CPI hits 2.3% in March, the highest level in five months, while PPI reverses its declining trend since late 2017
UK Labour Party floats idea of house price target for BoE
Report from opposition party suggests central bank could target 2% house price growth
Informal sector changes inflation dynamics – BIS paper
Informality dampens impact of some shocks but also impairs policy transmission, authors find
BoJ downgrades economic outlook as regional growth disappoints
Haruhiko Kuroda remains positive and says robust domestic demand could offset some of the weaknesses in exports
RBI cuts main rate again as growth fears deepen
Central bank revises down growth and inflation forecasts as election nears
Lower unionisation ‘unlikely to account for’ low wage growth
In Australia, share of employees covered by wage agreements negotiated remains stable, RBA researchers find
Mexico keeps rates at 10-year high despite global slowdown
Above-target inflation is the main focus for the Bank of Mexico
Argentina’s push for central bank independence faces hurdles
Government sent bill to parliament to prohibit monetary financing but political support is elusive
Ageing workforce depresses wage inflation – BIS paper
Demographic change could be behind weakness of inflation despite record-low unemployment
Pakistan starting to recover from imbalances – SBP
Central bank hikes policy rate while highlighting some signs of improvement in the external balance; IMF mission chief meets authorities for initial programme talks
Costa Rica makes about-turn on interest rates
Central bank reverses November hike as inflation concerns tip towards the downside
Turkish lira depreciates as reserves fall sharply
Forex reserves have fallen by 8% in first three weeks of March, according to central bank data
Bank of Jamaica cuts policy rate again
Central bank aims to get inflation back to target range by December 2020
Draghi says ECB could further delay rate hike as inflation disappoints
Weaker growth forecast contributed to reduction in central bank inflation forecast to 1.6% in 2021
RBNZ signals future rate cut on international weakness
Looser policies in the US and eurozone are putting upward pressure on New Zealand dollar
Fed’s rate pause puts pressure on BoJ
Fed’s dovishness could pull JGB yields lower and put upward pressure on the yen
Turkey acknowledges reserves build-up necessary to stabilise lira
Currency plummeted on March 22 on weak global economic data