Monetary policy
Monetary policy ‘increasingly synchronised’, say IMF officials
Very few central banks have bucked the global trend since the start of the pandemic
PBoC vows not to flood economy with liquidity
Chinese central bank warns of rising structural inflation pressures
Record-high inflation piles pressure on Norges Bank
Norwegian central bank expected to increase rates by 50 basis points on August 18
Colombian study estimates policy impact on capital flows
Meta-analysis using web scraping finds central banks have more control over some flows than others
Thailand raises rates for first time since 2018
Bank of Thailand signals more “gradual and measured” rate increases to come
Communications Benchmarks 2022 – presentation
Central Banking’s economics subject matter specialist Daniel Hinge on communications governance, social media, media monitoring and more
Taiwan academics call for central bank reform
Academica Sinica says the central bank could invest part of its foreign reserves into a sovereign wealth fund
Moldova raises rates as inflation hits 31.8%
Policy interest rate reaches new record high
How central bank mistakes after 2019 led to inflation
Central banks must acknowledge their own mistakes and outline concrete steps to restore the public’s confidence in their ability to ensure price stability, write Graeme Wheeler and Bryce Wilkinson*
Israeli reserves increase on higher equity prices
Portfolio increases by over $4 billion in July to $197.8 billion
Romania continues tightening cycle with 75bp rise
Eighth consecutive increase comes as headline inflation passes 15%
ECB uses bond reinvestments to support Italy and Spain
Central bank rebalanced its bond holdings in June and July away from France, Germany and the Netherlands
Czech central bank halts tightening
Many had expected new governor and board to take dovish turn
Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
Madagascar raises rates 90bp
Central bank expects economy to grow but speaks of troubling global conditions
Armenia orders 25bp interest rate hike
High inflation prompts central bank to continue postwar tightening cycle
ECB paper examines unanchored inflation expectations
Public reacts more strongly to larger and downward inflation surprises, researcher finds
IMF stresses inflation risks may rise further
In such a case, central banks will need to be more resolute in securing price stability
RBA raises interest rate by another 50bp
Governor Philip Lowe says RBA aims to keep the economy on an even keel while bringing inflation back to target
PBoC vows to provide more support for faltering economy
The central bank has not commented on a reported large-scale bail-out plan for developers
Turkish business chief criticises central bank as lira falls further
Governor says central bank is working to make Turkish firms use more lira-denominated assets
East African states clash over location of regional central bank
‘Verification exercise’ gave Tanzania the highest score, prompting Uganda and Kenya to object
Rates round-up: Latin American central banks battle persistent inflation
Colombian, Dominican and Nicaraguan central banks hike rates as inflation stays high
Monetary Policy Benchmarks 2022 report – executive summary
Benchmarking data sheds light on some of the key aspects of central bank operating frameworks