Monetary policy
Bank of Russia increases policy rate 100bp
Central bank announces fourth rate hike of year amid rising inflation expectations
BIS paper warns against ‘timid’ QE and ‘debt-averse’ fiscal policy
Policy mistakes at zero lower bound can worsen economic problems, authors say
Powerful companies are diluting monetary policy effectiveness – IMF
Competition policies are needed to ensure central banks can use monetary policy effectively
ECB reinforces commitment to monetary stimulus
Central bank expects inflation to reach 2% “durably”, midway through its projection horizon
Eurozone fiscal deficit declines in Q1
Lower imbalance due to lower spending; revenue remained stable as a share of GDP
Communications Benchmarks 2021 report – making connections
Data offers insights into staffing and salaries, channels, social media, new technology and strategies
ECB set to adapt forward guidance in July meeting
Analysts expect ECB to adjust policy to meet goals of recent strategy review
Incoming BoE policy-maker says inflation ‘momentum’ is easing
Catherine Mann says price rises appear to be starting to taper off
The ‘golden age’ of central banking has passed
Central banks are up against multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Belarus raises interest rates 75 basis points
National Bank orders second hike of the year to combat inflation
BoJ to offer zero-interest loans for climate projects
Central bank highlights five areas of focus in new climate strategy
UK politicians criticise BoE over handling of QE
Critical report comes as BoE MPC member suggests asset purchases may need to be halted early
Inflation fears are ‘overstated’ – BIS research
‘Little evidence’ of the forces that normally lead to persistent inflation, bulletin article says
Most central banks communicate in at least two languages
Central banks must weigh challenge of translating sensitive messages against reach
The ECB’s monetary policy strategy review
Otmar Issing offers some initial perspectives on the ECB’s strategy review
Chile’s central bank starts tightening cycle
Board votes to increase rates by 25bp amid rapid recovery and above-target inflation
Senior Fed officials differ on taper
Powell stands firm, but two regional presidents suggest a sooner-than-later approach
Bank of Canada continues taper
Central bank reduces QE by one-third to $2 billion weekly, but keeps interest rates stable
RBNZ calls halt to quantitative easing
Central bank has bought considerably less than its NZ$100 billion limit
US faces surge in actual and expected inflation
Data shows 5.4% CPI inflation over past year and consumers expect 4.8% rise over next
ECB’s new target not expected to influence Denmark’s policy
Danish central bank agrees with ECB that climate change may impact price and financial stability
New inflation target set to bind ECB to ‘lower for longer’ strategy
Symmetric 2% target should allow council to boost APP purchases as Pepp is phased out, say analysts
FOMC minutes show some disagreement on inflation
Some participants think US inflation pressures may continue into 2022
ECB adopts 2% symmetric inflation target
Central bank chooses not to follow Federal Reserve’s lead on average inflation targeting