Interest rates
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Canada opposition leader repeats promise to fire governor
Poilievre accuses government of interfering in central bank
Monetary Policy Benchmarks 2023 – executive summary
Key findings of the 2023 benchmark, including policy tools, governance structures and operating frameworks
Stronger US dollar hits emerging countries more, says IMF
Credible monetary policy frameworks are key to cushion external shocks, report argues
Russian central bank raises rates and warns of more to come
Nabiullina says inflationary pressures are rising and warns of effects of bigger fiscal deficit
Sarb pauses rate rises in split decision
MPC votes 3–2 to hold rates at 8.25% after inflation falls within target range
Nagel calls on German government to tighten fiscal stance
Public spending needs to fall to lower inflation, says Bundesbank president
Brazilian central bank denies censoring board members
Dispute highlights possible political divisions as president Lula appoints officials
Monetary Policy Benchmarks 2023 report – navigating uncertainty
Benchmark data highlights ongoing evolution in policy frameworks as central banks move beyond the pandemic – and into the high-inflation period
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
ECB needs to maintain tight policy, says IMF
Policy rates, rather than quantitative tightening, should be main tool, IMF directors say
German inflation to fall again from September, says Bundesbank
One-off effects boosted inflation from 6.3% in May to 6.8% in June
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed
Senad Softić on governance, currency boards and EU convergence challenges
Central Bank of Bosnia and Herzegovina governor speaks about improving governance in a political vacuum, managing a currency board amid rip-sawing euro rates, resolving Gazprom’s local units, modernising payments and meeting EU convergence criteria
Should the ECB disclose governing council members’ votes?
Some former officials argue it would reduce leaks and conflicting statements, while other stress the current system allows better policy debates
BoE stress tests find banks resilient to interest rate risk
Credit impairments drive majority of losses, but all banks pass test
RBNZ halts tightening cycle
Central bank says policy rate will need to remain at a “restrictive” level for some time
PBoC extends relief measures for struggling developers
Developers are allowed loan repayment extensions by another full year
Bank of Israel halts tightening cycle
Central bank signals it could raise rates further if inflation does not continue falling
Weak krona increases inflation risk – Riksbank minutes
Board members agree inflation remains too high and policy needs to be tighter
Central banks average four forecast updates a year
Final decision on projections jointly taken by policy-makers and staff in most jurisdictions
Mexican MPC members determined to hold rates
All five governing board members agree it is necessary to avoid rate cuts to tame inflation
Taiwan’s central bank calls for wage rises
Report calls for more unionisation after real wages fell in first quarter