Monetary policy
Monetary policy faces new era of complexity – Bosnian governor
Selimović urges rethink of central banking amid constant disruption and uncertainty
IMF’s Adrian highlights GaR’s value in scenario analysis
Chief financial counsellor tells Summer Meetings of motivation in developing award-winning framework
BoK expresses ‘grave concern’ over Korean economy
Governor says stimulus needed, but cautions against expecting too much from rate cuts
A fireside chat with BIS head Agustín Carstens
The lifetime achievement award-winner speaks with Chris Jeffery about how experiencing inflation shaped his career, gaps in economic theory and macro-pru governance, the future of money and the importance of international co-operation
Central bankers discuss policy-making amid high uncertainty
Flexibility, caution and financial stability analysis can support monetary policy, panellists say
ECB to move to ‘hybrid’ balance sheet model – Finland’s Välimäki
Bank of Finland board member heralds “new dawn” of Eurosystem monetary policy implementation
Argentina gets reserve boost with $2 billion repo deal
BCRA also introduces measures to strengthen control over money supply
Russia’s rates cut does not presage shift in stance
Experts say central bank remains alert to inflation risks and will maintain ultra-restrictive policy
RBI cuts rate by 50bp to 5.5%
Bank continues to loosen policy amid cooling inflation and global uncertainty
A fractured monetary system
US policy is encouraging a transition away from a dollar-led, rules-based order
Trust allows ‘decisive’ policy action – Carstens
BIS general manager says more work is needed to secure trust in financial stability and fiscal policy
Bank of Israel holds benchmark rate
Central bank hopes to help stabilise markets as conflict in Gaza and global policy uncertainty continue
Turkish central bank raises reserve requirements
Move comes as governor says bank will maintain tight monetary stance
Egypt eases policy by 100bp
Central bank cuts benchmark rate to 24% and expects to meet inflation target in Q4 2026
Book notes: The political economy of central banking, by Alessandro Roselli
Roselli’s book offers a comprehensive history of the relationship between governments and central banks
Sri Lanka cuts benchmark rate to 7.75% as deflation persists
Central bank projects inflation will move into positive territory during third quarter
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
Nigeria keeps policy rate at 27.5%
Bank makes second consecutive hold as inflation declines, and cites alarm over trade policy uncertainty
Romania opts to hold, citing domestic and global uncertainty
Central bank cites fluctuating commodity prices, tariff risks and volatility resulting from national politics
Ukraine’s Andriy Pyshnyy on the US minerals deal, ongoing reforms and post-war plans
The National Bank of Ukraine’s governor speaks about managing inflation, financial sector reform, FX reserves, international aid and actions in the event of a peace deal
German and Spanish governors criticise US policies
Nagel defends Fed independence, while Escrivá cautions against excessive deregulation
Korean officials argue for stablecoin authorisation body
Central bankers warn of currency substitution and monetary policy risks
Ex-BoE official calls for active monetary response to gilt shocks
Clear framework needed to address government bond market volatility, Sushil Wadhwani argues
Eurozone monetary policy must remain ‘firmly’ neutral – Schnabel
ECB board member cautions against overreacting to undershooting