Monetary policy
Book notes: Yellen, by Jon Hilsenrath
This book offers new insights into the tough decisions and tremendous efforts Yellen has made as a pre-eminent economic policy-maker
Bank of England rate hike is largest in over 30 years
MPC forecasts prolonged downturn and says it does not foresee rates rising to 5.25%
Armenia raises policy rate by 50bp
Fleeing Russians are helping to drive inflation, central bank says
Philippines governor announces rate rise in two weeks’ time
Governor Felipe Medalla gives forward guidance on intensified rate hike after Fed decision
Dominican Republic signals possible end to hikes
Board orders 25bp rise but says policy rate has reached “appropriate level”
Egypt raises policy rate and floats currency
Central bank decisions come as IMF signs preliminary deal for further $3 billion loan
RBA hikes interest rate to nine-year high
Governor Philip Lowe signals more rate rises amid highest inflation in 32 years
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
Eurozone inflation reaches new record of 10.7%
Energy is main driver, but inflation is rising in all sectors, Eurostat figures show
Colombian central bank increases rates to 11%
Food inflation and demand are stronger than in other Latin American countries, governor says
Brazil’s central bank holds rates and warns of fiscal problems
BCB leaves Selic rate at 13.75%, stressing lower inflation is partly due to subsidies
BdF to achieve 1.5°C climate goals by 2026, governor says
De Galhau calls for mandatory climate disclosure, green capital requirements and collective ecological governance
Costa Rican board says it will slow rate rises
Central bank orders 50bp increase, but says cycle will continue at “lesser rhythm”
BoJ maintains ultra-loose monetary policy
Kuroda says BoJ has no plans to tighten policy soon and warns over risks from weak yen
Bank of Canada makes smaller-than-expected rate rise
Macklem says central bank is “getting closer” to end of increases, “but we are not there yet”
Some Latin American central banks pause tightening cycle
Paraguay second to hold rates after Brazil, as Peru and Chile signal they may do the same
Vietnam raises rates for second consecutive month
Move comes after SBV devalued currency against dollar as inflation is close to central bank target
Christopher Sims on modelling the inflation surge
Unprecedented series of shocks creates major challenges for central bank forecasters, the Nobel Prize-winning economist tells Daniel Hinge
Credit is tightening for eurozone firms and households, says ECB
Loan demand from firms increased but fell from households, survey finds
Is the ECB taking the right policy path?
Facing an energy supply shock, analysts ponder whether sharp rate increases and QT alone will serve to bring inflation back to target while avoiding a major recession
Podcast: the effect of monetary policy on reserve management
Global rise in inflation is having an impact on central banks' reserve strategies
Pandemic and Ukraine have altered Europe’s inflation dynamics – IMF
Fund stresses policy-makers face tough trade-offs from high inflation and recession risks
Monetary Policy Benchmarks 2022 – presentation
Central Banking’s economics subject matter specialist Daniel Hinge discusses monetary policy after Covid-19
ADB gives crisis-hit Pakistan $1.5 billion loan
Asian Development Bank extends aid as extensive floods add to major economic problems