Inflation
RBA delivers another 25bp rate hike
Philip Lowe signals flexibility over further rate increases
The ECB’s collateral conundrum
A lack of high-quality collateral in the eurozone has resulted in money market rates lagging ECB policy rates, hampering monetary policy transmission
Bank of Thailand governor calls for better inflation model
Phillips curve model under-predicts inflation, argues governor Sethaput
Gilts debacle exposes financial stability risks
Lurking leverage in liability-driven UK pension investments raises important questions for central bankers
Armenia’s Galstyan calls for a new framework to tackle uncertainty and nonlinearities
Central Bank of Armenia governor says central banks can start to regain credibility by admitting their mistakes. This could include employing a risk-management approach to monetary policy aimed at avoiding nonlinear ‘dark corners’ and placing much less…
Austan Goolsbee will be next Chicago Fed president
Former Obama adviser will succeed Evans and become voting FOMC member in 2023
Powell signals FOMC may slow pace of hikes
Fed hopes to remove labour market pressure by cutting number of job openings, Powell says
Namibia increases policy rate by 50bp
Central bank shadows South Africa’s hike last week to preserve currency link
Ghana hikes rates again as inflation passes 40%
Governor says country faces “huge financing gap” as government uses central bank credit
Guatemala accelerates hikes while Dominican Republic pauses
Dominican core and headline inflation falling, but pressures are rising in Guatemala
Banknotes: October to December 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Fed officials disagree on dealing with uncertainty
Vice-chair Brainard and Cleveland Fed’s Mester take different stances on uncertainty
Eurozone inflation falls for first time in 17 months, estimates say
Eurostat figures show inflation dropping in most countries, including Germany
Bank of Thailand raises interest rate by 25 basis points
Central bank decision comes after headline inflation eased to around 6% in October
Knot and Schnabel strike hawkish tone on ECB policy
Portuguese governor calls for an end to 75bp hikes; Lagarde says inflation may still rise
Rates round-up: Pakistan adds 100bp to main rate
Central banks raise rates in Kenya, Congo and Iceland
Sarb hikes rates as inflation continues to rise
MPC votes by three to two for 75bp rise as Kganyago warns power cuts are harming economy
Chile’s Costa on tackling inflation, forex interventions and nowcasting
The Central Bank of Chile governor speaks about stubbornly high prices, Fed policy spillovers, reserve buffers, retail CBDC and the need to address unconscious bias
Book notes: Zero interest rate policy and the new abnormal, by Michael Beenstock
Author's contention that asset purchases caused the low neutral rate of interest is entertaining and infuriating in equal measure
Turkish central bank cuts rates drastically despite soaring inflation
MPC’s 150bp cut comes as some economists say inflation may be much higher than 85% official figure
Riksbank slows down normalisation with 75bp rise
Ingves chairs last policy decision as Riksbank predicts higher inflation and lower growth
Bank of Israel slows down policy normalisation
Central bank increases rates by 50bp to 3.25%, as inflation stood at 5.1% in October
RBNZ delivers record 75bp rate rise to curb inflation
Central bank now expects policy rate to peak at 5.5% next year, up from previous estimate of 4.1%
PBoC keeps key lending rates stable
China’s central bank maintains reference rate for mortgages but calls on banks to support developers