Interest rates
Book notes: Zero interest rate policy and the new abnormal, by Michael Beenstock
Thesis that QE caused low r* is entertaining and infuriating in equal measure
Balance sheet policy needs rethink, economists say
BoE chief economist says central banks should focus more on risks of assets they buy
Riksbank slows down normalisation with 75bp rise
Ingves chairs last policy decision as Riksbank predicts higher inflation and lower growth
UK Treasury makes first payment to BoE to offset QE losses
Indemnity was “integral” to QE but “day of reckoning” had to come, economist says
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
Eurozone banks’ TLTRO repayments are below market expectations
Slow pace of repayments may hamper ECB policy normalisation, some analysts say
ECB’s policy rate should reach 2% in December, Villeroy de Galhau says
Banque de France governor says “jumbo” rate hikes “will not become a new habit”
Argentine central bank debt poses major risks, analyst says
Moody’s analyst says central bank faces macroeconomic crisis as short-term debt rises
ECB warns array of risks threatens financial system
Luis de Guindos calls on governments to avoid fiscal policies running against tighter monetary policy
Rates round-up: tighter policy in Uruguay, Rwanda and French Pacific
Persistent inflation prompts further rate rises in emerging market economies
Fed outlook: officials urge caution amid uncertainty
Pace of rate hikes doesn’t need to be as “rampant” as recent moves, says Mary Daly
PBoC keeps key lending rate unchanged
Central bank sticks to accommodative policy as China faces slowdown
ECB’s Panetta warns tighter policy could inflict unnecessary damage
Monetary policy could permanently reduce potential output, argues ECB board member
Peru continues gradual policy tightening
Central bank hikes rates by 25bp and forecasts inflation will reach target level by mid-2023
Bank of Mexico takes rates to 10%
Banxico board follows Fed again, but hints tightening cycle may slow down
ECB eases securities lending limits to address collateral shortage
Governing council aims to provide “backstop for the euro area repo markets”
Riksbank calls for housing and tax reforms to reduce financial risks
Financial system faces risks from highly indebted households and real estate firms, report says
Nicaragua raises policy rate for sixth time this year
Country’s economy has recovered from long recession, but inflation remains high
Canadian governor shrugs off attacks by opposition politicians
Official opposition leader has pledged to fire Macklem as trade union boss also criticises central bank
Bank of Israel reserves increase by almost $3 billion in October
Asset revaluations boost the institution’s portfolio to almost $189 billion
Albanian governor says latest increase brings rates to neutral level
Gent Sejko forecasts inflation will not reach central bank’s target until second quarter of 2024
Lagarde says ECB may need to tighten above neutral rate
ECB president confirms central bank will announce QT plans in December