Monetary policy
2025 capital market expectations: slowing but not sinking
Monetary policy is the governor of the relationship between growth and inflation
Tighter credit and monetary policy hurts the young – ECB study
Borrowing limits push up rents but do not affect house prices, research shows
Bank of Korea unexpectedly holds policy rate amid political turmoil
Central bank cites need to assess political developments and incoming US administration’s policies
Bank Indonesia delivers surprise rates cut
Central bank shifts focus from backing rupiah to supporting growth with 25bp easing
ECB presidents’ displays of emotion affect markets – study
Research says leaders’ facial expressions and tones of voice amplify effects of their policy statements
BoJ to discuss whether to raise rates, deputy governor says
Himino Ryozo says policy-makers need to monitor wage growth and future US policies
BoE study suggests policy can affect inflation expectations
However, many households still have theoretically “wrong” idea about effects of tightening
IMF: $44bn loan deal to Argentina fell short of expectations
Monetary policy’s effects limited as central bank suffered heavy cashflow losses, evaluation finds
Moldova makes surprise 200bp hike
Energy prices spur up Moldovan inflation prompting unscheduled meeting
Central bank watch: watchful and wary easing ahead
Franklin Templeton assesses the monetary policy outlook for the Group of 10 central banks, as well as China and South Korea, as 2025 begins
Fed board members pledge caution in cutting rates
Governors say unemployment and inflation risks are roughly in balance
Central banks must be responsive to commodity price swings – BIS
Risk of transitioning to “high-inflation regime” may require more active policy, bulletin says
Bank of Uganda to make rate decisions quarterly
Central bank lowers frequency of policy meetings from six times a year
PBoC vows to cut reserve requirements and interest rates
Officials pledge to keep monetary policy “moderately loose” and support capital markets
Accounting for banknotes
Three leading experts on central bank finances debate the appropriate treatment of currency
ECB set for 100bp of rate cuts by autumn – Greek governor
France is ‘an issue’ and Trump presidency an ‘explosive mix’, says Stournaras
Madagascar’s governor on targeting M3 over inflation
Central Bank of Madagascar head Aivo Andrianarivelo speaks about introducing an interest rate corridor, diversifying from dollars to gold, using instant payments to bolster inclusion and drawing on IMF sustainability funding
Turkey makes 250bp cut
MPC narrows rate corridor by 300bp as inflation shows signs of cooling
Russia pauses tightening, but warns rates will stay high
Central bank governor says inflation expectations are at risk of becoming unanchored
2024: The year in central banking
A look back at the biggest and most popular news stories of the year
Ethiopia’s liberalisation paves way for banking consolidation
Reforms will give central bank power to supervise foreign lenders as country lifts barriers to investment
Central Bank of the Philippines cuts policy rate by 25bp
Third reduction in a row follows Fed’s quarter-point cut
BoJ holds rates, completes broad monetary policy review
Governor admits bank has been slow to raise rates, but highlights need to assess wage data and US policy
Sweden makes further cuts, but Norway continues to hold
Riksbank reduces rates by 25bp, but Norges Bank maintains more hawkish approach