Monetary policy
Romania cuts rates by 25bp
Central bank expects inflation to decline “significantly” after revising projections
Monetary policy has less impact on private credit – Fed research
Funding, ‘dry powder’ and fund returns for asset class remain high amid policy tightening
CBDCs amplify contractionary effects of monetary shocks – BoC paper
However, research finds no substantial change to transmission mechanism
Japanese officials pledge vigilance on financial markets
BoJ, finance ministry and regulator hold emergency meeting after country’s biggest fall in equities since 1987
Czech National Bank cuts rates to 4.5%
Reduction of 25bp comes after headline inflation falls to 2% target
Bank of England cuts rates for first time since 2020
MPC votes for 25bp reduction in split decision after Fed opts to hold
LatAm rates round-up: Brazil and Chile hold while Colombia cuts
Central banks maintain cautious stance as disinflation slows across region
Fed holds rates again
Powell says FOMC’s “broad sense” is that US economy is moving to point where cuts would be justified
Azerbaijan holds key policy rate
Inflation still significantly below target levels
National Bank of Georgia holds rates
Move comes as inflation remains well below 3% target
BIS Americas chief: region must stay alert to inflation risks
Tombini praises efforts to tackle inflation, while outlining monetary policy challenges
BoJ raises policy rate, outlines plan to reduce bond purchases
Governor says bank will raise rates again if economy and prices move in line with projections
Central banks face a capital framework imbalance – should we care?
Most economists say clear recapitalisation frameworks are important. But many central banks still lack them
Armenia cuts rates by 25bp
Decision comes as inflation remains well below 4% target
Euro has given France better interest rates – BdF official
Bénassy-Quéré says rates would have been higher if France had stayed outside single currency
Falling r* a ‘mirage’ in open economies – IMF paper
Adding exchange rate to standard model significantly changes predictions, authors find
Pakistan cuts rates by 100 basis points
Decision comes after country secures IMF funding amid falling oil prices
Singapore leaves monetary policy unchanged
Decision comes despite moderation in domestic inflation
Bank of Russia hikes interest rates by 200bp
Labour shortage continues to grow under war economy
Eddie Yue reappointed as head of Hong Kong Monetary Authority
Chief executive says HKMA will promote stability amid “complex” economic and geopolitical environment
Uzbekistan reduces policy rate by 50bp
Central bank delivers first cut since May 2023
PBoC unexpectedly cuts key interest rate
MLF rate’s 20bp reduction is largest decrease since 2020
Monetary Policy Benchmarks 2024 – model banks analysis
Further breakdowns of the data reveal patterns in staffing, liquidity tools and transparency
Sri Lanka cuts interest rates by 25bp
Decision follows improved economic figures but stubbornly low inflation