Monetary policy
Obituary: Süreyya Serdengeçti, 1952–2025
Governor of Turkey’s central bank whose policies brought inflation down from 75% to single-digit figures
Singapore maintains policy after two periods of easing
MAS says Q2 growth stronger than expected but trade likely to slow in second half of 2025
BIS paper debuts new metric to gauge monetary policy stance
Index captures how size of central bank balance sheet affects borrowing conditions
ECB to apply climate risk to collateral framework
Move expected to reduce value of assets in bank’s refinancing operations
Kyrgyzstan tightens policy for first time in more than a year
Central bank raises rates by 25bp to keep inflation in check amid tariff uncertainties
Russia cuts rates by 200bp, citing moderation in inflation
Experts say central bank waited until expectations had moderated and cut may support country’s lenders
RBA governor praises Fed’s independence following Trump’s attacks
Bullock says US central bank is “doing what it’s supposed to be doing”
European Central Bank pauses rate-cutting campaign
ECB considers strengthening eurozone economy to be “crucial” in face of geopolitical challenges
Ukraine opts to keep rates higher for longer
Central bank holds at 15.5% and says policy must remain “rather tight” if 5% inflation target is to be met
New Zealand expects continued easing amid trade uncertainties
RBNZ chief economist says tariff uncertainty likely to slow inflation and growth
Sri Lanka holds rate as US tariffs loom
Central bank keeps policy rate at 7.75% amid domestic economic and global trade uncertainties
Hungary holds rates for 10th consecutive time
Economy continues to stagnate despite rising household lending
RBA waiting for more data before deciding whether to cut rates
Minutes of last meeting show board favoured easing but was split over when it should occur
Thailand names Vitai Ratanakorn as central bank governor
Cabinet picks state-owned lender’s CEO to take over from Sethaput Suthiwartnarueput on October 1
BoE publishes SVAR model in response to Bernanke review
Flexible model designed to provide “structural narrative” to understand forecast revisions
Wholesale bank funding boosts policy transmission – paper
NBER study highlights trade-offs between reducing systemic risk and facilitating credit flow
China holds key lending rates
PBoC keeps one- and five-year LPRs at 3% and 3.5% respectively, as expected
Judy Shelton on gold, tariffs and where the Fed went wrong
The potential successor to Jerome Powell discusses why she thinks the Fed is too powerful, why her stance on gold is not a ‘crank’ position, and why she feels events have vindicated her and president Trump on the need for rate cuts
Central bank watch: Biased to ease, for now
A mid-year review of the monetary policy outlook for G10 central banks, India, China and South Korea
Indonesia eases policy rate after Trump announces 19% tariff
Central bank says 25bp cut was needed to support economy amid weak global outlook
New Zealand’s ageing population may drive down rates – study
RBNZ research says “grey wave” may make it harder to stimulate economy with cuts
Hong Kong’s FX interventions came at right time, say economists
Experts believe the resulting fall in interest rates has provided welcome stimulus
The battle for the future of central banks
Inflation-targeting institutions must not simply defend against overt interference, they must also resist a sly erosion of their authority, writes Biagio Bossone