Interest rates
Monetary Policy Benchmarks 2024 report – back to normality?
Data reveals trends in use of policy tools as well as operating frameworks and communications
Banxico dovish in minutes published after rate hold
Minutes “softly hints at rate cut”, analyst says
Bank of Korea holds rate but signals possibility of future easing
Governor Rhee Chang-yong says the board can consider rate cut at “appropriate time” in the future
Full-scale war with Hezbollah is a tail-end event – Bank of Israel deputy
Andrew Abir says central bank has advised government to ensure adequate fiscal space as it expects war to last longer and revises its growth and inflation forecasts
US labour markets approaching pre-pandemic state, report finds
Simple rules suggest fed funds rate should be at or below current level, report says
Turkish inflation falls for first time in eight months
Cooling prices could herald disinflation trend despite negative real rates
Malaysia’s Rasheed expects a “bumpy road” for EM currencies
Governor Abdul Rasheed Ghaffour says BNM will intervene if needed ahead of future Fed cut; rules out capital controls but has encouraged institutions to repatriate earnings
BNM’s Rasheed on inflation, growth and currency performance in emerging markets
Bank Negara Malaysia’s governor speaks about balancing inflation and growth, supporting the ringgit, multilateral currency settlement and greening Islamic finance
PBoC to start borrowing government bonds as yields fall
Analysts expect central bank to sell in secondary market to stabilise yields
Masaaki Shirakawa on his ‘unease’ about 2% inflation targets and lessons from Japan
The former Bank of Japan governor speaks with Christopher Jeffery about the need to properly understand the business of banking, making sound contingency plans and the BoJ’s current policy constraints
Canadian rate hikes may have lasting effects – research
Bank of Canada researchers find disposable income could decrease by up to 5% by 2027
Bank Indonesia holds policy rate despite rupiah weakness
Governor Perry Warjiyo vows further intervention to support the currency
PBoC holds key lending rates
Market-based lending rates remain unchanged as economic data remains mixed
PBoC overhauls monetary policy framework
Central bank aims for clearer policy rate, bigger role for bond trading and use of “structural” tools
How to cut the interest cost of bank reserves – and how not to do it
William Allen says setting required reserves is not a straightforward decision for the Bank of England
BoJ hawkishness due to weak yen belies wage inflation concerns
The contrast in Japan-US economic, price and wage performance and their implications for monetary policies
BoE reserves framework drawn into political arena
Minor party’s proposal to axe interest on reserves highlights BoE’s costly operating framework
Lessons from the banking turmoil of 2023
Guardrails on capital, liquidity, deposit insurance, resolution, digitalisation and disintermediation need a rethink
How Argentina’s financial tango could become a dance of death
Central bank and government’s unholy alliance is storing up further trouble for economy
Are low-level inflation targets still fit for purpose?
Geostrategic shifts make the case for a narrow price target less compelling
Global natural rates could be rising, SNB governor says
Jordan says Swiss central bank’s approach allows it to deal with uncertainty over r*
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
Can US policy choices explain economic divergence?
NIESR’s Ahmet Kaya finds US fiscal stimulus may have masked standard economic relationships, but economic gravity may soon reassert itself
Profit inflation and monetary policy: weighing the evidence
Biagio Bossone says profit inflation needs monetary ‘fuel’ to rise – but fiscal policy is the best fix, should governments have the ‘guts’