Monetary policy
Book notes: The money minders, by Jagjit S Chadha
This book acts as an invaluable primer on money-credit-fiscal theory and practice
Gontareva on Ukraine’s funding, NBU policy and reconstruction
Former NBU governor Valeria Gontareva speaks about donor funding shortfalls, NBU policy and financial stability challenges, Nabuillina and the seizing of Russian assets, and post-conflict rebuilding and modernisation
Korean MPC tightens policy again and raises inflation forecast
Governor says central bank likely to continue with 25bp hikes as core inflation rises
Bank of Israel raises rates by largest amount since 2002
MPC says short-term inflation expectations have fallen, but warns of faster increases in house prices
Bank Indonesia raises interest rates for first time in three years
Governor says decision is “pre-emptive” after inflation reaches a seven-year high
PBoC cuts key lending rates
Move follows unscheduled cut to two other rates after official data showed growing slowdown
Taking a cue from the top: governor turnover and independence
Central bank governors tend to have long tenures, but what that means can vary. High turnover remains a worrisome signal
Pakistan names new governor
Jameel Ahmad succeeds Reza Baqir after three-month delay
Bank of Jamaica hints rate rises may be ending
MPC increases policy rate 50bp and says 6% may be “appropriate”
Glapiński accuses Germany of wanting to redraw land borders
Polish governor warns on plans for EU super-state as German foreign office calls claims “absurd”
Egyptian president appoints acting governor
Hassan Abdallah replaces Tarek Amer, who resigned abruptly on August 17
Uruguay continues policy tightening
Policy-makers say inflation and expectations are stubbornly high
Turkish central bank shocks with 100bp rate cut
Rogoff describes move as “nuts”, as official inflation neared 80% in July
Ghana emergency MPC meeting ends with 300bp increase
Country in renewed IMF talks as inflation spirals and currency falters
Norges Bank ups rates by 50bp and signals faster tightening
Inflation is “considerably higher” than projected by the central bank, and well above its 2% target
RBA sets up new panel of private-sector economists
Expert panel will meet at least twice a year; move follows “embarrassing” forecasting issues
Is money growth really the main inflation culprit?
Jakob de Haan and Jan-Egbert Sturm take a closer look at inflation in the eurozone and Switzerland
Netherlands not facing wage-price spiral – DNB
Central bank says there is space to increase negotiated wages in the Dutch economy
Central Bank of Egypt governor resigns
Amer joins presidential staff amid inflation and currency crises
Central banks should ‘overestimate’ inflation persistence, says economist
Academic argues central banks should act as if exogenous shocks are likely to be persistent
The PBoC, real estate debt and financial stability in China
Central bank policy-makers are restricted in terms of capacity and space by their efforts to manage the nation’s property bubble amid declining growth
ECB rate hikes could damage climate change policies, paper finds
Researchers claim tighter financing conditions will hamper transition to capital-intensive green technologies
Rates round-up: Argentina adds 950bp to main rate
Central banks in Argentina, Peru, Rwanda, Serbia and Uganda tighten policy
China cuts key interest rates as growth weakens
Analysts lower China’s annual GDP growth estimate to around 4%