Inflation
SBP reverses course and hikes rates 100bp
State Bank of Pakistan raises key rate in emergency session as IMF deadline looms
RBI’s Shaktikanta Das on financial sector reform, sticking to inflation targets and the e-rupee
The Reserve Bank of India governor speaks about developing credible self-insurance and sizeable FX reserves, inter-dependence with government, non-bank and bank regulatory reforms, demonetisation, rupee internationalisation and daily UPI payments hitting…
Central banks face tough fight for ‘last mile’ of disinflation – BIS
Credit losses could rival global financial crisis in higher-for-longer scenario, institution warns
Bank of Mexico holds rates again
Board says rates will remain at current level “for an extended period”
US housing inflation will slow in early 2024, Dallas Fed paper says
Researcher uses vector error correction model to estimate housing market pressures
Africa: Rate rises for DRC and Namibia, but Zimbabwe says no
DRC and Namibia react to high inflation as expert says Zimbabwe is suffering hyperinflation
Latin America: Brazil holds rates despite president’s attack
Chilean board also holds policy, while Costa Rica cuts after inflation goes below target
Switzerland and Norway raise rates
Norges Bank expects further increases while SNB does not rule them out
BoE makes surprise 50bp rate increase
Central bank to review modelling framework after repeated forecast errors
Angola appoints deputy governor to top job
Tiago Dias succeeds Massano, who left to join cabinet
Schnabel stresses inflation risks and need for tighter policy
ECB needs to err on the side of doing too much rather than too little, says board member
Bangladesh to adopt single exchange rate
Central bank raises interest rates as it struggles to stem inflation and build reserves
Nigeria liberalises exchange rate
Naira falls sharply as country leaves Emefiele era behind
State Bank of Vietnam cuts interest rates
Move comes after government’s call on the central bank to support businesses and economic growth
BoJ sticks to ultra-loose monetary policy
Japan’s inflation has exceeded 2% target for a year, but central bank is unconvinced it is sustainable
BoJ’s easing stance fuels yen undervaluation dilemma
Japanese policy-makers need to consider feedback loop that an undervalued yen has on cost-push inflation; reflect on YCC exit options in ‘broad perspective review’, writes Sayuri Shirai
ECB raises rates again and signals more tightening
Tight labour market and core inflation surprises have driven forecasts higher, Lagarde says
Central banking against a full-scale war
National Bank of Ukraine governor Andriy Pyshnyy shares seven statements about ‘antifragility’ and the ability to function under uncertainty – and succeed
Fed holds policy rate steady
Powell says conditions for lower inflation are coming into place, and July will be a “live meeting”
Pakistan holds rates despite high inflation
Reserves resume fall as balance of payments crisis continues
Chile’s central bank aims to boost reserves by 28%
Programme aims to buy $10 billion in FX over 12 months after interventions to support peso
Populists can pressure central banks to cut rates, paper finds
Researchers say the most populist governments can get rates lowered by 30 basis points
Zimbabwe devalues currency as crisis deepens
Analyst says Reserve Bank and finance ministry are struggling for control of FX reserves
RBI holds rate despite stubborn inflation
Policy-makers hint at need for further tightening as inflation stays above target