Interest rates
The PBoC, real estate debt and financial stability in China
Officials have restricted policy space due to efforts to contain property risks amid slowing growth
ECB rate hikes could damage climate change policies, paper finds
Researchers claim tighter financing conditions will hamper transition to capital-intensive green technologies
Rates round-up: Argentina adds 950bp to main rate
Central banks in Argentina, Peru, Rwanda, Serbia and Uganda tighten policy
China cuts key interest rates as growth weakens
Analysts lower China’s annual GDP growth estimate to around 4%
Ukraine’s wartime economy faces possible crisis
Foreign donors must increase financing of Ukrainian government, former NBU governor Gontareva argues
Bank of Mexico increases interest rates by 75 basis points
Central bank once more revises up inflation projections
Uncertainty over ECB’s TPI muddies monetary and fiscal impact
Analysts say anti-fragmentation tool exposes long-standing flaws in EU fiscal framework
Zimbabwe officials considering currency board
MPC member says arrangement would require $700 million in reserves
Monetary policy ‘increasingly synchronised’, say IMF officials
Very few central banks have bucked the global trend since the start of the pandemic
Record-high inflation piles pressure on Norges Bank
Norwegian central bank expected to increase rates by 50 basis points on August 18
Thailand raises rates for first time since 2018
Bank of Thailand signals more “gradual and measured” rate increases to come
Taiwan academics call for central bank reform
Academica Sinica says the central bank could invest part of its foreign reserves into a SWF
How central bank mistakes after 2019 led to inflation
There is a need to acknowledge errors and take concrete action to restore confidence in policy-making
Israeli reserves increase on higher equity prices
Portfolio increases by over $4 billion in July to $197.8 billion
The case for restoring the role of monetary aggregates
Surge in money supply in response to Covid-19 triggered rampant inflation
ECB uses bond reinvestments to support Italy and Spain
Central bank rebalanced its bond holdings in June and July
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
BoE accelerates tightening as inflation expected to hit 13%
“Enormous” external shocks to blame for large changes in forecasts, officials say
Madagascar raises rates 90bp
Central bank expects economy to grow but speaks of troubling global conditions
Armenia orders 25bp interest rate hike
High inflation prompts central bank to continue postwar tightening cycle
IMF stresses inflation risks may rise further
In such a case, central banks will need to be more resolute in securing price stability
RBA raises interest rate by another 50bp
Governor Philip Lowe says RBA aims to keep the economy on an even keel
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
Rates round-up: Latin American central banks battle persistent inflation
Colombian, Dominican and Nicaraguan central banks hike rates as inflation stays high