Inflation
Fed’s Waller: rates could go ‘well above’ 4%
Governor projects “significant” September hike and says it is “too early” to judge inflation drop
Bank of Canada critic becomes leader of the opposition
Pierre Poilievre said in May he would fire governor for failing to contain inflation
Morocco’s Jouahri on inflation, forex reform, digitalisation and sustainability
The Central Bank of Morocco governor speaks with Christopher Jeffery about Covid-19 policies, Fed tightening, BIS membership, regional co-operation and financial inclusion
Peru slows down tightening cycle to 25bp hike
Central bank had implemented 50bp rate increases every month since September 2021
Central banks will be ‘tested’ by long-term inflation – BIS’s Borio
Persistent inflationary forces could bring central banks into conflict with government, official says
BoE to act as lender of last resort to UK energy firms
Move aims to counter high collateral demand, given energy market volatility
ECB raises rates by 75bp for the first time
Lagarde warns monetary policy will not bring energy prices down
RBA’s Lowe admits inflation models need rethink
Governor acknowledges forecasting mistakes but rejects calls to resign
Joseph Stiglitz on the challenge of fixing macroeconomics
The Nobel Prize-winning economist discusses the flaws in mainstream models and how to repair them, whether central banks went wrong in 2021, and what to do – or not to do – about inflation
Rates round-up: Canada opts for 75bp raise
Chile surprises with larger hike, while Poland nears peak rates with 25bp increase
Ethiopian central bank tightens limits on foreign exchange
Inflation was 33.5% in July
ECB expected to deliver first-ever 75bp rate hike
Record-high inflation of 9.1% in August and a weak exchange rate put pressure on divided governing council
BoE policy-makers debate more aggressive tightening
New government and “extreme volatility” in energy markets complicate outlook
Exchange rate key to policy decisions – Sarb’s Cassim
“What counts as tight” is changing worldwide, forcing central banks to keep up, deputy says
RBA raises interest rate to seven-year high
Governor Philip Lowe acknowledges impact of rate hikes on people’s spending
Banknotes: July to September 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Curaçao and Sint Maarten raises rates 150bp
Islands track Fed policy as inflation puts pressure on growth, trade balance and reserves
Guatemala and Dominican Republic raise rates
DR says inflation is “moderating” and economy is strong; Guatemala notes second-round effects
BoE’s planned procyclical capital hike bewilders banks
Some doubt regulator will go through with counter-cyclical buffer hike while forecasting recession
Chile rejects new constitution, sinking central bank reform
Draft had proposed some changes to central bank governance and mandate
Will the dollar remain the world’s reserve currency?
Bank of Russia sanctions are unlikely to undermine the US dollar’s central role in reserve portfolios. But a relative decline in US economic weight and technological innovation are benefiting other currencies
ECB’s Lane and Schnabel strike different notes on eurozone inflation
Schnabel says “right tail” shift could herald de-anchoring, but Lane says other outcomes are possible
RBA to focus on inflation targeting for 2022–23
Australian central bank changes priority as inflation reaches highest level since 1990s
Bank of Mexico’s battle to restore price stability
Despite presidential attacks, former officials say a solid institutional framework preserves central bank autonomy – likely a key asset in the battle against inflation