Monetary policy
Costa Rica increases pace of monetary tightening
Central bank hikes rates by 150bp as core and headline inflation continue to rise
Riksbank tightens policy for first time since pandemic's onset
Swedish central bank surprised analysts by raising rates and reducing asset reinvestments
Wide variation in comms staff numbers
Smallest communications team has just two members, and the largest over 100
How high can the ECB take interest rates?
Despite rising inflation, eurozone central bank is seen as unlikely to take rates over 1.5% in coming years
HKMA advances e-HKD exploration
Authority notes risks around cyber security and removing intermediary banks
Maintaining trust is top focus of comms teams
Benchmarking data sheds light on how central banks measure the effectiveness of communications
Kazakhstan raises policy rate by 50 basis points
Inflation hit 12% in March and expectations are “not anchored”
Turkish central bank tightens reserve regime for lenders
Central bank will also penalise lenders with high levels of foreign-denominated accounts
Andrew Bailey acknowledges risk of ‘over-tightening’
Senior economists discuss how to avoid stagflation during a fragile moment for the global economy
RBI extends Sri Lanka swap line
Island nation defaulted amid debt, currency and balance of payment crises
New Zealand’s inflation hits 30-year high
Labour shortages also affecting many businesses
People: Chicago Fed’s Evans to retire
Bulgarian parliament rejects governor pick; political heat on Cook still high as vote nears; and more
PBoC focusing on grain and energy to stem inflation
Price stability in grain production and energy supply key to growth, says governor
UK faces possible inflation ‘ratchet’ – BoE’s Mann
MPC member says shocks to UK economy have “piled on top of each other”
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
NBU plots path out of war economy
Ukrainian central bank turns to monetary financing as government struggles to pay for war
BCB union suspends strike for two weeks
Brazil central bank workers reject 5% pay offer and will continue some labour protests
Fed’s Evans says current inflation ‘very different’ to past episodes
Inflation is following a “whale curve” and the Fed should target the body, president says
Global spillovers not unique to US monetary policy – BoE paper
Fed and ECB both create spillovers through macroeconomic and financial channels
IMF raises red flags for global growth
Fund warns of global fragmentation as it cuts growth forecast and predicts higher inflation
ECB sticks to plan of gradual policy normalisation
Lagarde says net asset purchases should finish in the third quarter of the year
South Korea and Singapore tighten monetary policy
Central banks revise inflation forecasts up and GDP down
SNB has weak transparency and governance practices – report
Board risks “group-think”, as its monetary policy communication is shallow, experts argue
ECB expected to pause amid uncertain impact of war
Governing council could discuss QE backstop to prevent wider sovereign bond spreads