Interest rates
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 sovereign wealth fund
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
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
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
ECB uses bond reinvestments to support Italy and Spain
Central bank rebalanced its bond holdings in June and July away from France, Germany and the Netherlands
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 while bringing inflation back to target
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
Monetary Policy Benchmarks 2022 report – executive summary
Benchmarking data sheds light on some of the key aspects of central bank operating frameworks
Kenyan governor denies shortage of small-denomination notes
Interior minister had claimed that politicians were draining supply to pay election bribes
Little risk of stagflation in Netherlands, says DNB
Wages are no longer inflation-linked and profits are higher, the Dutch central bank confirms.
Argentina accelerates tightening with 800bp hike
Central bank says it aims to make real rate positive as president reshuffles government
Costa Rica makes largest hike since 2010
Central bank predicts that inflation will not reach its target range until 2024.
Latin America faces challenging conditions, IMF warns
Central banks should focus on driving inflation down to preserve credibility, report says
Ghana seeks IMF aid as reserves dwindle
Government secures Afreximbank loan and MPC holds rate despite inflation nearing 30%
Gulf central banks increase rates in line with Fed
Five banks raise rates 75bp, while Kuwait orders 25bp increase due to different currency peg
BoJ unlikely to move policy to counter yen weakness
The Bank of Japan is wary of raising rates or even increasing its yield control target to tackle yen depreciation, which it views as being exacerbated by foreign speculators, writes Sayuri Shirai