Inflation
European Central Bank holds rates
Inflation set for return to target in 2025, as Lagarde defends ECB response to staff burnout
Monetary Policy Benchmarks 2024 report – back to normality?
Data reveals trends in use of policy tools as well as operating frameworks and communications
IMF warns of slowing disinflation path
Higher interest rates in advanced economies could trigger “harmful spillovers”, chief economist warns
Chicago Fed chief warns of overtightening if rates hold
Fed chair Jerome Powell also finds confidence in recent inflation data
PBoC’s new policy tool may have little impact, analysts say
Adding new open market operations does not mean major change to policy framework, say economists
PBoC holds key rate despite uneven economic recovery
Central bank likely to keep MLF rate unchanged before Fed cuts rates, analysts say
Malaysian central bank holds policy rate
BNM expects higher inflation later this year as government phases out fuel subsidies
Bank of Korea holds rate but signals possibility of future easing
Governor Rhee Chang-yong says the board can consider rate cut at “appropriate time” in the future
Policy should ‘accommodate’ core inflation to ward off unemployment – paper
Central banks can help insulate vulnerable households in event of energy shock
Full-scale war with Hezbollah is a tail-end event – Bank of Israel deputy
Andrew Abir says central bank has advised government to ensure adequate fiscal space as it expects war to last longer and revises its growth and inflation forecasts
Gambia receives $11m from IMF
Inflation is easing, but remains well above target
Turkey’s economic odyssey: inflation, lira decline and strategic shifts
Marcello Minenna delves into the damage of 20 years of ‘Erdoganomics’
BoE should hold rates until pressures have eased, Haskel says
Changes to labour market estimates helped shift policy decisions, MPC member says
Inflation rebounds in OECD countries
Rising energy costs drive uptick in many economies, but G7 avoids increase
New NBER research sheds light on ‘cheapflation’
Savings from price discounts partially offset by price hikes for cheaper products
Turkish inflation falls for first time in eight months
Cooling prices could herald disinflation trend despite negative real rates
Malaysia’s Rasheed expects a “bumpy road” for EM currencies
Governor Abdul Rasheed Ghaffour says BNM will intervene if needed ahead of future Fed cut; rules out capital controls but has encouraged institutions to repatriate earnings
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
‘Selective memory’ helps explain expectation de-anchoring – paper
Authors build model around three “regularities of human recall”
Fed needs more evidence to cut rates – Powell
Lagarde tells same Sintra panel that services inflation is making disinflation “bumpy”
Eurozone ‘soft landing’ still not guaranteed, warns Lagarde
ECB president says costs of disinflation are contained better than in the past
Half of central banks use forecast errors to assess policy impact
Surveys of expectations widely used but surveys of trust and understanding are less common
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
US inflation’s last mile ‘could take several years’ – Cleveland Fed
Favourable shocks are necessary to reach 2% quickly, researcher argues