Quantitative easing
ECB maintains stance but Lagarde hints at hawkish policy turn
Lagarde's press conference remarks seem to differ from policy statement, analysts say
BoE hikes main rate and begins shrinking balance sheet
UK Treasury unveils parallel measures to cushion impact of surging energy prices
Record-high eurozone inflation raises pressure on ECB
HICP increased by 5.1%, well above consensus expectation of 4.4%, as energy prices drive up reading
RBA halts asset purchases
Australian central bank maintains interest rates at 0.1%
Wunsch calls for gradual ECB policy tightening
Belgian governor stresses risks posed by prolonged negative rates and QE
Pierre Wunsch on inflation, forward guidance and policy tightening
The National Bank of Belgium governor speaks about over-reliance on central bank models and forward guidance, the impact of energy costs and inflation expectations, and the need to unwind unconventional monetary policies
Fed signals time will be right for rate hike ‘soon’
QE set to end in March, with balance sheet to start shrinking after rates rise
‘Flood’ of reserves may not boost liquidity, say Acharya and Rajan
Central bank balance sheet expansion could harm liquidity in some cases, former RBI officials find
Fed keeps investors guessing on speed and endpoint of tightening
Investors generally agree the Fed will tighten policy, but how much and when are unclear
Nagel warns high inflation could last longer than expected
New Bundesbank president says monetary policy should monitor climate change risks
Fed’s Clarida resigns after latest trading revelations
Vice-chair departs 17 days early after new disclosures about equities sales
Fed’s Clarida reveals large pre-pandemic equities trades
Departing vice-chair files amended disclosure forms, reigniting criticism of Fed leaders
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
Fed’s Waller says federal funds rate should rise soon after QE ends
Fed governor hints at tighter policy and offers lessons from the pandemic
BoJ ends some emergency measures
Central bank offers more funding for loans to small businesses, but halts some asset purchases
ECB to halt PEPP purchases but expand APP
Lagarde says rising inflation will be temporary, but says ECB needs flexible monetary policy
Bank of England raises policy rate
Tightening comes amid inflation surge and just after BoE completes asset purchases
Fed doubles pace of quantitative easing taper
FOMC says recent inflation figures and labour market strength drove the decision
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
Eurozone QE helped increase R&D spending, paper finds
Firms that had bonds bought by the ECB increased R&D spending by 9% on average
Eurozone inflation hits record high of 4.9%
ECB expected to clarify the future of its stimulus programme on December 16
Swedish central bank announces end to net asset purchases
Sveriges Riksbank forecasts it will not raise rates until 2024, saying inflation rise is temporary