Monetary policy
Dallas Fed researcher cautions against expansionary policy
Study of US in the 1970s says oil shocks were not primary driver of inflation
FOMC minutes show sharp division in projections
Some members argue rates may need to be raised while others make case for easing
RBNZ holds rates at 2.25% in new governor’s first meeting
Analysts expect central bank to maintain accommodative policy for some time
Russia has limited room for manoeuvre on policy – experts
Rate cut reflects nervousness rather than confidence about inflation and growth trajectory, say analysts
QT ‘crucial’ if ECB is to tackle future crises, says Nagel
Bundesbank president says dollarisation by way of stablecoins could weaken European sovereignty
Egypt cuts rates by 100bp and lowers reserve requirements
Central bank continues to reverse tight monetary policy stance as inflation gradually declines
Russia eases by 50bp despite inflation risk
Central bank says pro-inflationary threats are still greater than disinflationary ones
BSP to use satellite imagery to aid policy-making
Philippines central bank partners with space agency to help identify climate-vulnerable communities
RBNZ welcomes external probe into Covid-era monetary policy
Finance minister says bank’s easing and asset purchases caused ‘decades-high inflation’
Brunei to focus on Islamic and sustainable finance
Central bank says it has no plans to introduce a CBDC or stablecoin regulations
Models need rethink due to effect of global shocks – paper
Central banks can no longer assume shocks are ‘temporary, linear and symmetric’, authors say
RBI keeps policy steady
Policy committee takes positive view of inflation and growth outlook, despite some external headwinds
Czech National Bank holds rates
Sub-2% inflation does not warrant policy loosening, central bank says
Full ‘postmortem’ on QE yet to be written – Klaas Knot
Former DNB governor expects Fed to continue international monetary diplomacy under Warsh
Lenders use strict covenants to hedge against rate hikes – study
US banks exposed to policy volatility use breaches to cut lending in tightening cycles, authors say
BoE holds rates at 3.75% in yet another close decision
Good progress on disinflation and weak labour market open door for cut in March
BIS paper models fiscal influence on monetary policy
Researchers propose alternative mechanism to fiscal theory of the price level
Eurozone banks unexpectedly tightened lending – ECB survey
Respondents suggest tariffs were partly to blame for reduction in available credit for businesses
RBA tightens policy, citing higher-than-expected inflation
Australia’s first rate hike since late 2023 had been expected by economists
Colombia shocks markets with 100bp rates hike
First tightening in nearly three years comes after government announces 23% rise in minimum wage
‘Pricing cascades’ crucial to post-Covid inflation – study
ECB researchers say speed and interdependencies were key components to shock
MAS holds policy while warning of potential AI-related shocks
Singapore’s central bank increases inflation estimates and predicts resilient growth
South African central bank holds rates in split decision
Sarb stays cautious as country continues to adjust towards new 3% inflation target
EU cannot fully disconnect from US, say Nagel and Kocher
German and Austrian governors say bloc can take steps to gain more sovereignty