Monetary policy
Economics Benchmarks 2021 report – making sense of the modern economy
Covid-19 coloured central banks’ views on the governance of their economics function in the past year, from research topics to forecasting, data, publications and more
Fed doubles pace of quantitative easing taper
FOMC says recent inflation figures and labour market strength drove the decision
Chilean central bank continues sharp policy tightening
Second consecutive 125 basis point increase takes policy rate to 4%
Hungary continues campaign of rate hikes
MNB ends asset purchase programme, as inflation rises above 7%
Podcast: Oliver Wünsch on a solution to eurozone fragmentation risks
A common fiscal authority could offer stability, but would require sharing more sovereignty
Inflation challenges ECB’s normalisation plans
Central bank expected to confirm end of PEPP purchases on December 16
Pakistan confronts inflation with 100bp hike
Third consecutive increase may be last for a while, MPC says
IMF urges UK to withdraw ‘exceptional’ monetary policy
Fund says signals would dampen inflation expectations while leaving policy supportive
Bank of Canada renews monetary policy framework
Central bank conducts first “systematic” study of other frameworks since it adopted inflation targeting
Masaaki Shirakawa on lessons from crisis and how to reform central banks
The former governor reflects on a turbulent 40 years at the Bank of Japan, and considers how central banks might face up to the challenges of the future
US inflation reaches new peak
CPI figure hits 6.8%, the highest rate in nearly four decades
The matter of minutes: Why open up private deliberations?
Many central banks publish records of MPC meetings, but far fewer publish vote tallies. Where should public scrutiny stop?
Polish central bank hikes rates again
NBP says it will continue to act to push inflation back to target
Peruvian central bank orders fifth consecutive rate hike
Board says it may not implement further hikes and above-target inflation is “transitory”
Guinea junta replaces central bank leadership
Military president removes governor chosen by his civilian predecessor
BoJ does not need to tighten policy – deputy governor
Masayoshi Amamiya says Japan is facing a unique inflation situation
Brazilian MPC tightens rates again despite sluggish growth
MPC “foresees another adjustment of the same magnitude” at next meeting
Cash: important for a fairer economy
One interesting economic story over the past year has been the growth in grassroots support for cash payments. Against the backdrop of the Covid‑19 pandemic and now debunked rumours that coins and banknotes could be significant transmission vectors for…
Georgia central bank orders 50bp hike
Central bank raises policy rate to 10.5% as inflation continues rising
PBoC cuts reserve requirements
But easing measure partially offset by withdrawal of other liquidity support
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
BEAC raises interest rates
Central African states’ shared central bank imposes first hike in three years
Podcast: Waking up to net zero
BNP’s Jane Ambachtsheer says central banks should not be held solely responsible for achieving net zero, but they have a significant role to play
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another