Monetary policy
Kazakhstan continues monetary tightening
National Bank orders third 25bp increase in a row, in line with Russia
Bank of Russia raises rates and inflation forecasts
Nabiullina warns central bank will tighten policy further if above-target inflation persists
Chilean president grants Marcel new term as governor
Central bank leader faces continued challenges from pandemic and rapid political change
Podcast: Paul Fisher on the future of balance sheet policy
Central banks must think about the composition of their balance sheets, the former BoE official says
Fed announces strict new trading rules for senior officials
Regulations would ban individual investments, increase disclosure and restrict transactions
Paraguay’s MPC hikes rates by 125 basis points
Country follows Chile with unexpectedly large tightening as inflation continues to rise
Fed ethics officials warned against trades
March 2020 advice cautioned against stock transactions in following months
Turkish central bank cuts rates again as currency falls
Lira hits new low days after president dismissed senior officials
Weidmann to step down as Bundesbank president
After over 10 years leading the German central bank, Weidmann will leave for “personal reasons”
ECB paper examines ‘euroised’ economies
European countries’ informal adoption of euro places limits on central banks, says working paper
Fed’s Bullard believes a ‘five-year window’ for AIT is ‘realistic’
St Louis Fed president says “big tent language” was a reason overshoot details were not specified; “precise numerical implementations” can “get you into trouble”
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
Mexican inflation rising rapidly, warns deputy governor
Heath says prices increasing at “really phenomenal” rate but expects full pandemic recovery by 2023
Turkish president fires deputy governors
Move appears to be Erdoğan’s latest bid to impose low interest rates despite rising inflation
Chilean MPC speeds up tightening, citing higher inflation risks
Central bank board surprises markets, increasing interest rates by 125 basis points to 2.75%
Clarida: ‘Stagflation is not my baseline case’
Fed vice-chair says inflation situation not akin to 1970s
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Summers fears for Fed’s ability to remove ‘punchbowl’
Central banks may not be able to counter inflation threat amid possible return to 1960s economics, says former US Treasury secretary
Peru central bank raises rates for third time in two months
BCRP forecasts inflation will return to target, but expresses concern over expectations
Peru’s president re-nominates long-standing governor
Economy minister says Julio Velarde is an “excellent professional”
BIS paper outlines model of managed floats
Framework captures financial frictions while being simpler than other models, authors say