Inflation
Bank of Jamaica continues tightening cycle
MPC adds 50bp, describing May inflation drop as mainly due to “temporary effects”
Riksbank carries out largest rate rise since 2000
Swedish central bank says chances of wage-price spiral have increased
New Philippines governor says he may accelerate tightening
Felipe Medalla says policy rates could be raised by more than 25 basis points
Top central bankers admit inflation models fell short
Reliance on Phillips curve and demand-driven models may have created blind spots
Campos Neto says ‘worst of the inflation’ has passed
Brazil’s governor says central bank “came out ahead” of price increases
Williams also expects US to avoid recession this year
Unemployment will likely rise to 4% as growth slows due to tightening process, says NY Fed head
Hungary makes shock 185bp rate increase
Central bank responds to inflation and weak forint with largest increase since 2008
Zimbabwe central bank raises policy rate to 200%
Finance minister guarantees use of US dollar through 2025, while RBZ will mint gold coins
Fed’s Evans and Bullard downplay recession risks
Both presidents looking to increase the policy rate to around 3.5% by the end of the year
PBoC chief vows to keep policy accommodative
But economist expects room for China to cut interest rates further to be small
Czech central bank raises rates after inflation hits 16%
Expectations could become unanchored from 2% inflation target, board warns
IMF approves $4 billion payment for Argentina
Country passes first IMF review, but reserves have declined in recent weeks
Norway’s MPC tightens policy and signals more hikes to come
Norges Bank raises policy rate expectations as it says Norwegian labour market is extremely tight
China loans Pakistan central bank $2.3 billion
Ailing country in talks with IMF as foreign exchange shortage crimps fuel purchases
(Un)stablecoins and central banks
Time to tackle stablecoin structures and support mechanisms
BIS says central banks must act ‘decisively’ on inflation
Tightening policy hard and fast may be central banks’ best shot at engineering a soft landing
BSP raises rates by 25bp, while Indonesia holds
Economist warns Philippine central bank’s action may not be enough to bring inflation down
Bank of Mexico orders largest-ever rate hike
Mexico matches Fed as inflation continues well above target
Thai MPC split over rate hikes, minutes show
Minority of committee members voted for policy rate rise at last meeting
BoJ board members concerned over yen’s volatility
Rate-setters differ over implications of currency depreciation, minutes show
Paraguay continues rate hikes despite economic contraction
Central bank raises policy rate for 11th month in a row, as GDP growth falls
Iceland meets high inflation with second 100bp hike
MPC forecasts more increases as Nordic country confronts internal and external pressures
Zimbabwe central bank negotiates lower bread prices
Russia-Ukraine war and weak currency bring misery to southern African country
SNB raises rates for first time since 2007
Jordan says the Swiss central bank is ready to prevent “second-round effects” becoming entrenched