Inflation
BoJ eyes further rate hikes, possibly by year’s end
Central bank says global economies’ resilience to tariffs “remarkable”, while predicting slowdown
BoE cuts rates by 25bp in historic close call
For first time in history, MPC voted twice as initial round ended in 4–4–1 stalemate
RBNZ survey respondents expect bank to cut policy rate
Business leaders and forecasters also expect weaker inflation in New Zealand over medium term
China analysts expect moderate rate cuts in H2
PBoC mirrors politburo stance in mid-year meeting while eyeing further internationalisation of yuan
News coverage affects inflation expectations – NBER paper
Authors say bad news has bigger impact on perceptions of inflation
Colombia’s unexpected rate hold draws fire from president
Policy maintained at 9.25% could mean fewer or no rate cuts in upcoming meetings, analysts say
Book notes: Inflation, by Mark Blyth and Nicolò Fraccaroli
An accessible explainer about the narratives surrounding inflation – and who it benefits
Brazil holds rates amid tariff threats and Trump-Lula feud
Potential 50% levies from US reinforce “cautious stance”, BCB says
Ageing societies limit monetary policy space – BoK study
“Super aged” populations cut growth and inflation, and weaken banking sector, authors say
Ghana’s 300bp rate cut is largest in its history
Governor signals further easing as inflation cools to lowest level since 2021
BoJ holds policy and ups inflation expectations
Japan’s central bank says growth likely to slow then pick up again after tariffs’ effects diminish
Fed holds rates, despite pressure from White House
Experts say stance is in response to Trump’s trade policies and lament his attacks on central bank
Bank of Canada holds rates as core inflation heats up
Governor points to tariffs, but economist highlights “mystery” of core metric’s divergence from headline measure
Chile cuts rates for first time this year
Central bank says more easing to come as US tariff threats on copper complicate outlook
Obituary: Süreyya Serdengeçti, 1952–2025
Governor of Turkey’s central bank whose policies brought inflation down from 75% to single-digit figures
Kyrgyzstan tightens policy for first time in more than a year
Central bank raises rates by 25bp to keep inflation in check amid tariff uncertainties
‘Start late, then sprint’ may cost when tackling inflation – CEPR
Research says approach ultimately succeeded post-Covid, but hurt central banks’ credibility
Russia cuts rates by 200bp, citing moderation in inflation
Experts say central bank waited until expectations had moderated and cut may support country’s lenders
Tailored central bank messaging boosts trust – BoJ study
Citizens are more confident about inflation forecasts when delivered by someone similar to them
Book notes: Making money work, by Matt Sekerke and Steve H Hanke
This book provides a critique of the post-crisis monetary and financial system, proposing changes that deserve to be broadly read
Turkey cuts for first time since March’s political turmoil
CBRT reduces rates by 300bp to 43% and vows to maintain “tight” policy stance
Oil shocks create ‘persistent’ labour downturns – IMF paper
Gains for oil-exporting countries are “comparatively modest”, say researchers
Ukraine opts to keep rates higher for longer
Central bank holds at 15.5% and says policy must remain “rather tight” if 5% inflation target is to be met
Sri Lanka holds rate as US tariffs loom
Central bank keeps policy rate at 7.75% amid domestic economic and global trade uncertainties