Monetary policy
Markets likely to test ECB’s anti-fragmentation tool
ECB could struggle to avoid political disputes over TPI instrument, some observers warn
Papua New Guinea raises rates for first time since 2011
Rising inflation prompts first move in more than two years
Uzbekistan lowers key rate by 100bp
Central Asian country follows Russia in reversing rate increases from start of invasion of Ukraine
Indonesia keeps benchmark rate unchanged
Strong export growth and stable rupiah gives Indonesia room to hold rates, analysts say
ECB surprises markets with a 50bp rate hike
Central bank unveils new instrument to prevent sharp increases in sovereign bond spreads
US inflation: it’s mainly global
Steve Kamin analyses the pre-existing conditions that impacted inflation in the US and elsewhere
Poland law would fund coal benefit with central bank’s profit
National Bank of Poland remitted 95% of profits to government in 2020
Bank of Japan holds rates and increases inflation forecast
MPC predicts inflation will reach 2.3% this fiscal year but then fall back below target
Monetary Policy Benchmarks 2022 report – a pandemic legacy
Benchmarks data offers insights into how Covid has impacted policy frameworks, plus governance, market operations and policy transparency
Nigeria raises policy rate by 100bp
MPC cites external tightening and conflict as sources of rising inflation
China holds key lending rates
PBoC continues to diverge from counterparts overseas as it sticks with easy policy
Australian government to review RBA mandate and governance
Review will look into the board structure and performance, after RBA suffers criticism over policy choices
ECB readies first hike since 2011 as it faces policy ‘trilemma’
Central bank may be forced to choose two options among price stability, fragmentation risk and market functioning
Bailey says bigger hikes and faster QT ‘on the table’
BoE governor says MPC is willing to act “forcefully” to prevent inflation persisting
Australians can bear rising borrowing costs – RBA deputy
But Michele Bullock warns of greater financial burden for recent homebuyers
Bank of Ghana denies rationing FX
Bloomberg made claim in June article citing swelling fuel import bills
Labour supply key to understanding inflation, Shin tells G20
Understanding labour market is critical task for policy-makers, BIS head of research says
Chilean central bank pledges to sell up to $25 billion to defend peso
Currency plummets by 4% to new record low against US dollar following 75bp rate hike
US Senate confirms Barr as Fed vice-chair
Democrat appointees now form majority of board of governors
Chilean central bank makes surprise 75bp rate hike
Board takes interest rates to highest level since 1998
Singapore and Philippines make unscheduled policy decisions
Central banks tighten policy as inflation continues to rise and US releases inflation data
BoI’s Yaron stresses flexibility offered by inflation target range
Bank of Israel has been studying the possibility of modifying its inflation target
Bank of Korea lifts key rate by half a point to fight inflation
Central bank also warns of high downside risks to the economy