Monetary policy
ECB president says bank can return to adjustable policy horizon
Households do not perceive how their incomes have risen, which harms growth, says Lagarde
Economics Benchmarks 2024 – executive summary
The benchmark drills into model design features as well as staffing, research and AI
‘Inflation disagreement’ weakens US monetary policy – Fed study
Households’ inflation expectations differ from central bankers’, thus adding to post-Covid momentum
Generative AI can decipher FOMC minute topics – Fed research
Authors say technology could enhance public’s understanding of central banking
ECB cuts rates by 25bp
Eurosystem disinflation “well on track” and council “did not discuss” TPI, says Lagarde
Bank of Canada opts for another 50bp cut
Governor says Trump tariffs would be “highly disruptive” if implemented as proposed
Switzerland cuts rates by 50bp
SNB changes conditional inflation forecast, expects lower inflation compared with September
Trump says Powell would resign as Fed chair ‘if I told him to’
President-elect also claims tariffs would make US rich but cannot guarantee that prices will not rise
Reserve Bank of Australia holds policy rate again
Central bank softens hawkish stance amid weak economic growth and slowing inflation
China shifts to ‘moderately loose’ monetary policy stance
Officials also vow to pursue “more proactive” fiscal stance next year
BoE reveals details of ‘repo-led’ operations
Bank to offer more liquidity via longer-term facility but retain “variable price, variable size” format
Reserve Bank of India holds policy rate
Governor says decision reflected need to tackle high inflation without stymying “resilient” growth
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
South Korea pledges ‘unlimited liquidity’ to stabilise markets
Authorities ready to support stock, bond, short-term funding and FX markets amid political turmoil
Reserve Bank of Zimbabwe maintains interest rates at 35%
Central bank keeps policy tight following September devaluation and spike in inflation
Pan: PBoC will continue ‘supportive’ policy next year
Central bank also expands M1 definition as governor Pan Gongsheng signals continued stimulus
Nandalal Weerasinghe on Sri Lanka’s IMF programme, central bank reforms and road to recovery
The Central Bank of Sri Lanka governor speaks about his return from retirement to aid Sri Lanka’s structural reforms and recapitalisation, reinforce central bank independence and develop financial resilience
‘Financial conditions targeting’ could help stabilise output – paper
“Risk-centric” New Keynesian model highlights benefit of acting on financial conditions
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Australian parliament passes bill to reform RBA
Bank’s board to be split into two groups covering monetary policy and governance
Cross-currency letters of credit gaining popularity in Asia
Divergent central bank policies see CNH LCs increasingly used to cover USD invoices
People: October to December 2024
A round-up of central bankers in the news and on the move
BoK makes surprise 25bp cut to base rate
Majority of monetary policy board decides risks to growth warrant loosening in policy
One in five main models has endogenous financial sector
Benchmark highlights array of methods central banks use to model financial sector, but 40% still do not model the financial side of the economy