Monetary policy
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
BIS-SNB project links wholesale CBDC to core banking system
Project Helvetia’s second phase demonstrates integration of DLT with standard systems is possible
DRC central bank cuts benchmark rate by 100 basis points
Central African giant continues loosening monetary policy amid growth and steady inflation
Nagel warns high inflation could last longer than expected
New Bundesbank president says monetary policy should monitor climate change risks
Google data offers real-time indicator of business closures, says BoC research
Google Places database can reveal whether businesses are gone for good or just “hibernating”
Romanian MPC hikes rates again
National Bank of Romania warns of considerable uncertainty over future inflation levels
ECB may have to act over energy prices, Schnabel warns
Transition to lower-carbon economy may boost inflationary pressures, says ECB board member
Reputational risk tops central bank concerns
Cyber security and credit/counterparty risk followed
Argentina raises rates for first time since 2020
BCRA raises benchmark rate 200 basis points, as IMF talks continue
Peru hikes rates 50bp again
Central bank continues tightening programme begun in August
Papua New Guinea reforms central bank and forces out governor
Law changes board and policy framework, and allows central bank financing
Is Latin American monetary policy still counter-cyclical?
Latin American central banks have been tightening monetary policy aggressively. Steve Kamin examines whether this is a return to historical patterns or if it reflects a newer approach
Uruguayan central bank speeds up monetary tightening
Central bank makes fourth consecutive hike and says it expects further rises at next two meetings
Poland continues tightening in new year
Central bank adds 50bp to rates, the fourth increase in a row amid high inflation
Dominican Republic ends 2021 with 100bp hike
Central bank returns rate to pre-pandemic level as economy and inflation steadily grow
IMF finds Argentina bailout ‘did not deliver on its objectives’
Largest-ever IMF loan was ineffective and “not sufficiently robust”
Czech policy rate continues ascent
Divided central bank board orders 100bp hike, the fifth consecutive increase
Turkey’s Dornbusch moment
Turkey’s new deposit scheme sets the stage for hyperinflation, writes Barry Eichengreen
Paraguay orders third 125bp hike
Central bank cites inflationary pressures and says monetary policy is still “accommodative”
Bank of Jamaica hikes policy rate
Central bank raises rate by 50 basis points in bid to reverse inflationary trend
Russia orders seventh straight rate hike
Central bank continues protracted battle against high inflation
Colombia stays on trend with 50bp hike
Central bank board unanimous on raising rate, but splits 4–3 on size of increase
Central bank social media trends in the ‘Instagram age’
Uptake of visual social media platforms rises, as Facebook usage plateaus
Bank of Mexico accelerates tightening cycle
Díaz de León’s last policy meeting raises policy rates and revises inflation expectations