Monetary policy
Fed paper argues capitalism killed the Phillips curve
Shift in the balance of power between capital and labour likely to hold down inflation, authors find
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
Swiss central bank defends board structure
Think-tank suggested governing board was “susceptible to group think” in April report
What is the right size for a central bank board?
There is greater consensus for smaller boards in theory than in practice
Rates round-up: Canada adds 50bp to main rate
Kenya orders first rate increase since 2015; Dominican Republic hikes 100bp; and more
Three-quarters of central banks exploring CBDCs for retail payments
Though research is common, only a few have moved to pilot or roll out the technology
Fed’s Waller believes US economy can handle several more rate hikes
Governor acknowledges uncertainties remain high amid Russian invasion of Ukraine
NGFS moving from climate ‘awareness to action’ – MAS’s Menon
Net-zero transition has been “tepid” despite the limited time remaining, MAS chief says
Riksbank was right to use negative rates, say former central bankers
As ECB loosened policy, Swedish central bank lacked any credible alternative, Flug and Honohan conclude
Is this the end for ECB QE?
High inflation makes it increasingly difficult for the central bank to justify asset purchases across the eurozone, despite rising fragmentation risks
Turkish central bank holds rates despite 70% inflation
Turkish lira reaches record low as central bank promises inflation will fall to 5%
Malawi devalues currency amid FX crisis
Reports say central bank has devalued kwacha by 25% as country’s exports slump
Guatemala orders first rate rise in nine years
Board cites concerns about expectations but inflation remains within target range
Bank of Russia cuts rates again
Central bank says inflationary pressures are falling but economy faces considerable constraints
Philippines president-elect plans to move governor to finance ministry
Marcos nominates board member Felipe Medalla as next governor
Esther George to step down as Kansas City Fed president
George will retire in January on reaching retirement age, after 11-year tenure
Bank of Korea raises policy rate again
Policy-makers expect high inflation for rest of year
Paper explains why ‘Fed put’ is not as reliable as investors might like
Disagreement between Fed and market can create perception central bank is “behind the curve”
RBNZ tightening policy ‘by more and sooner’
Central bank orders second 50bp hike, the fifth increase since last October
Rates round-up: Israel surprises with larger hike
Central banks in Pakistan, Nigeria, Ghana, Paraguay and Jamaica also tighten policy
BoE’s Bailey hits back at monetary policy critics
Facts “simply do not support” argument that central bank was too slow, governor says
Lagarde says ECB likely to abandon negative rates in September
Central bank would need to confirm end to asset purchases in June, and hike in July and September
Japan’s inflation breaches 2% target
High import prices a key driver as flat wages drag demand
Communications Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the ongoing shift to social media and the impact of Covid-19