Inflation
Pierre Wunsch on inflation, forward guidance and policy tightening
The National Bank of Belgium governor speaks about over-reliance on central bank models and forward guidance, the impact of energy costs and inflation expectations, and the need to unwind unconventional monetary policies
Fed signals time will be right for rate hike ‘soon’
QE set to end in March, with balance sheet to start shrinking after rates rise
Sri Lanka raises rates as food prices rise sharply
Governor says country does not need IMF aid despite minister warning of potential energy blackout
RBA develops new method of modelling financial sector
Approach takes Martin model “beyond the existing macroeconometric frontier”, say researchers
Fed keeps investors guessing on speed and endpoint of tightening
Investors generally agree the Fed will tighten policy, but how much and when are unclear
MAS aims for stronger Singapore dollar to resist inflation
Faster appreciation needed due to “rapidly accumulating” inflationary pressures, authority says
Ukrainian central bank hikes rate and warns of invasion fears
Supreme court backs NBU over PrivatBank dispute as central bank says it may raise rates again
Paraguayan policy-makers weigh inflation against drought and pandemic
Monetary policy committee opts for smaller rate hike as economy faces difficult outlook
Kazakh central bank warns of inflation pressure after protests
Policy-makers opt for 50bp rate hike to curb possible inflation surge
Turkish MPC holds rates after sharp inflation rise
Central bank announces $5 billion UAE swaps deal as Erdoğan seeks currency from Turkish allies
Chilean governor leaves central bank to become finance minister
Mario Marcel led central bank through period of social unrest and Covid-19 pandemic
Mozambique’s government owes central bank over $600 million – auditors
Auditors say government is obliged to compensate central bank over forex movements
Brazil central bank employees join strike action
Public sector workers walked out on January 18 to protest refusal to increase pay
Norges Bank signals March rate hike
Last MPC meeting under Olsen says economy needs says “gradual normalisation” of policy
UK inflation hits 30-year high
Figure is now highest since CPI series began, driven by energy and food prices
BoJ sees emerging signs of inflation in Japan
Central bank says inflationary risks are now “generally balanced”
PBoC cuts rates as Xi warns against ‘rapid tightening’
Quarterly GDP growth hits lowest rate in 18 months as Xi calls for international policy co-operation
Frequency of price changes strongly correlated to inflation, says Riksbank
The size of price increases remained stable in Sweden from 2010–18
Fed chair makes case for renomination
Powell needs 50 votes and may need at least three Republicans to side with his reappointment
Sweden inflation hits highest level in 28 years
Rise likely to boost hawkish positions at next Riksbank policy meeting on February 10
South Sudan central bank announces sharp fall in inflation rate
IMF credits exchange rate reforms with taming prices, while central bank cuts interest rates
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
Norway’s inflation reaches highest level since 2008
Headline reading reaches 5.3%, while core inflation increases by 0.5% to 1.8%
DRC central bank cuts benchmark rate by 100 basis points
Central African giant continues loosening monetary policy amid growth and steady inflation