Interest rates
Markus Brunnermeier on the need for CBDCs
The Princeton academic co-authored a paper for the European Parliament exploring the potential pitfalls of CBDCs. But they are still needed, he says
Economists warn Latin America faces another lost decade
Continent is “halfway to a lost decade already”, says World Bank’s Carmen Reinhart
Bank of Canada governor says rate increase ‘was first step’
Macklem says he expects inflation to fall in second half and expectations remain anchored
IMF and Argentina reach preliminary agreement on new programme
Argentina must implement new monetary policy framework as part of $45 billion aid package
Powell says he expects March rate hike
Fed chair says FOMC is discussing agreement on shrinking balance sheet
Bank of Canada raises policy rate
Hike marks end of ultra-loose policy imposed in response to Covid-19
Eurozone inflation reaches new record high of 5.8%
Energy inflation remains main factor boosting prices, at 31.7% in February
Ukraine invasion raises questions for Fed policy and Latin America
Economists say some countries may benefit from higher commodity prices, but food inflation and uncertainty over Fed policy complicates the outlook
Kyrgyz central bank raises rates 150 basis points
Central bank cites “geopolitical risks”, though high inflation was problem long before war
US, EU and UK tighten sanctions as Nabiullina orders massive rate rise
Bank of Russia implements more emergency measures as currency falls sharply
Emerging economies ‘remarkably’ resilient to Fed tightening, BIS says
Many EME currencies have appreciated, but Turkish lira and Russian ruble are notable exceptions
Bank of Mexico MPC minutes stress high core inflation
Core inflation increased by 6.2% in January and has risen for 14 consecutive months
RBNZ increases policy rate to 1%
Committee debated the possibility of increasing rates by 50bp
Paraguay continues slower tightening as inflation rebounds
MPC orders second 25bp hike, after 450bp in increases in late 2021
Riksbank minutes confirm board division on normalisation
Three out of six board members voted to accelerate end of net asset purchases
Leading Colombian presidential candidate plans central bank reform
Gustavo Petro claims current government has captured the board of directors
Fed’s Brainard backs series of rate hikes followed by asset runoff
Governor says economy is responding appropriately to Fed communications and incoming data
Bank of Israel set to increase interest rates soon
Central bank points out inflation expectations have increased
Eurozone inflation may hit target in medium term, says Lane
ECB chief economist says eurozone may face fundamentally changed inflation dynamics
IMF paper finds falling r* should eventually reverse
Authors say several policies could be used to push natural rate back up
Sovereign bond markets test ECB’s QE withdrawal plans
Investors see “huge risks” of turmoil in peripheral eurozone debt markets
Namibia marks first rate hike in six years
Central bank acts to “safeguard” link to South African rand
IMF report supports Colombia’s policy tightening
Colombia vulnerable to external shocks and needs higher reserves, IMF staff say
Brazil’s Campos Neto: markets show less fear of Lula win
Presidential candidate reported to have embraced central bank independence