Interest rates
BoE opens sharia-compliant facility after six years of work
‘Wakalah’ liquidity facility designed to address disadvantage faced by Islamic banks
Monetary policy’s potency may wane over time – BIS paper
Low rates might cause aggregate demand to become less sensitive to monetary stimulus, authors say
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Has the SNB accepted a stronger franc?
Swiss central bank reduces FX interventions as currency breaks 1.05 ceiling against the euro
Hungary central bank widens rate corridor to create ‘room for manoeuvre’
“Asymmetrical” rate corridor designed to allow central bank to tighten policy quickly
Kenya’s central bank highlights growth rebound in 2021
Inflation has fallen to 6.5% following government stabilisation efforts to stem fuel prices
German inflation reaches 5.2% in November
ECB’s Schnabel says inflation will peak this month and will decline towards 2% target in 2022
Colombian central bank leaves inflation target unchanged
Rise in inflation is likely to prove transitory, board says, as it sticks to 2% to 4% range
Book notes: Monetary policy in times of crisis, by Massimo Rostagno et al
A mass of intellectual effort gives rare insights into the ECB’s inner working, but fails to fully address questions about who really controls inflation
Brazilian inflation may be stabilising – official data
Mid-November inflation reading was unchanged from October as rate of food price increases slows
Zambia raises rates for the first time since 2019
Year-on-year inflation falls but remains well above central bank’s target level
Mexican president nominates first female governor
Victoria Rodriguez has been undersecretary of finance in the current administration
Swedish central bank announces end to net asset purchases
Sveriges Riksbank forecasts it will not raise rates until 2024, saying inflation rise is temporary
RBNZ continues tightening as inflation approaches 5%
Rising commodity and transport costs see central bank overshoot 2% inflation target
Paraguay continues tightening with second 125bp hike
Inflation rises far above 4% target, reaching 7.6% in October
Weidmann clashes with Lagarde on policy outlook
Bundesbank president said policy may have to tighten just after Lagarde said it would likely stay loose
Final frontier? Japan after the Kuroda experiment
The Bank of Japan has pushed monetary easing close to its limit, yet inflation is barely above zero. What happens now?
Lagarde says ECB policy is likely to stay loose in 2022
ECB president says eurozone must not “rush into a premature tightening”
Swedish inflation rose further in October
CPIF increased year on year by 3.1% last month; Riksbank expected to reduce balance sheet
BCB independence and Brazil’s inflation battle
Formal autonomy should help shield central bank from political pressure linked to 2022 elections, but challenges remain
Peru central bank raises rates again
Fourth hike since August “does not necessarily imply a cycle of successive increases”
Uruguayan central bank orders third consecutive rate hike
Central bank expresses concern over salary rises and regional uncertainty
Fed and ECB officials point to different policy directions
US officials see a rate hike in 2022 as increasingly likely, while eurozone governors rule that out
Bank of Mexico proceeds with gradual tightening process
Central bank increases interest rate by 25 basis points to 5% on higher inflation