Interest rates
How US demographics complicate the Fed’s job
Ageing population and pandemic legacy are confounding economists’ predictions
RBNZ raises rates as cyclone complicates outlook
“Devastating” impact of Cyclone Gabrielle creates economic disruption and prompts fiscal action
Rates round-up: Philippines raises policy rate 50bp
Zambia increases amid poor inflation outlooks; Uruguay joins Latin American rate pause trend
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
It is time to rethink the balance of monetary and fiscal policy
Jagjit Chadha says the current moment calls for more subtle policy engineering than in past bouts of high inflation
Can new BoJ governor Ueda maintain his neutral position?
Kazuo Ueda will face divided views on monetary easing and its growing side-effects when he takes office, writes Sayuri Shirai
PBoC injects more funds into banking system
Central bank keeps rate unchanged as it adds $29 billion of new one-year loans
Bitcoin price does not respond to market signals – paper
Researchers find cryptocurrency value “orthogonal” to most economic indicators
Colombia’s Villar says tight policy necessary for future growth
Governor says inflation more stubborn than in neighbours, but will fall soon
Loose monetary policy has ‘big’ impact on crisis risk – NBER paper
Authors find causal link between easy policy stance and future financial instability
Inflation in Baltics set to remain highest in euro area
Charts highlight divergence between eurozone members
Rates round-up: Mexico adds 50bp
Mexico delivers surprise; Peru pauses tightening cycle; mixed decisions in Europe
BoE officials deny complacency over second-round effects
First-round impact of shocks is driving the bulk of inflation, policy-makers say
Bank of Canada officials explain monetary policy transition
Central bank publishes first record of monetary policy meeting discussions
Dallas Fed research casts doubt on ‘soft landing’
US Fed chair Jerome Powell sees US worker shortages as “more structural than cyclical”
RBA makes ninth straight rise and forecasts more to come
Governor warns Australia will be slow to achieve its inflation target
Rates round-up: Zimbabwe cuts policy rate to 150%
Azerbaijan raises rates 25bp; Qatar bucks Gulf trend; and more
Risk Management Benchmarks 2023 – executive summary
Key results from the 2023 benchmarks, including risk priorities, organisational structure and metrics
Brazilian president questions central bank autonomy
Lula reiterates objections to current inflation target after central bank holds rates
Brazil continues to hold rates despite president’s objections
Former governor says president’s speech reduced chance of bank loosening policy
Wanted: radical ideas for inflation modelling
Hedge funds echo Mervyn King’s calls for a new approach to inflation modelling post-2022 crisis
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs
Canadian governor rules out early rate cuts
Macklem says bar for rate rises has risen and he cannot rule out “mild recession”
Brazilian ex-deputy governor says inflation target too low
Mandatory public spending means Brazil will have higher inflation than its peers