Tariffs
Fed governors differ on best way to deal with Trump uncertainty
Waller says monetary policy can’t be “put on hold”, but Bowman calls for wait-and-see approach
Central bankers from Americas respond to Trump’s tariff shock
Canadian, Mexican, Colombian and Fed governors speak of post-Covid realities at BIS conference
Mexico accelerates easing with 50bp cut
Board members, unfazed by uncertainty in US, speed up loosening as inflation slows
Eurozone ‘not in a recession at all’ – Cipollone
ECB vice-president says there is “room to cut”, digital euro work continues and bitcoin is not gold
Colombia unexpectedly holds policy rate
Central bank pauses easing cycle as minimum wage hike complicates inflation dynamics
Fed holds rates amid pressure from White House
Powell says he has had no contact with Trump since president said he would “demand” easing of policy
Bank of Canada cuts rates and ends quantitative tightening
Macklem says monetary policy cannot offset negative effects of tariffs
Trump’s tariff threats fuel corporate FX hedging revamp
Treasurers mull options and longer-dated hedges in face of mixed signals on extent and timing of measures
BoJ raises policy rate to highest level since 2008
Policy-makers raise inflation forecasts and signal further rate rises
Norges Bank says time is not yet right for easing
Central bank holds rates, but suggests cut is likely in March
Banxico board uncertain on pace of easing, minutes reveal
Members had differing views on inflation dynamics and effects of tariffs in December meeting
PBoC to issue record amount of bills in Hong Kong
Central bank to auction 60 billion yuan of bills in territory amid weakening renminbi
Higher tariffs would hurt US allies as well as its foes – research
However, research says country would be largely shielded from impact of geopolitical fragmentation
ECB set for 100bp of rate cuts by autumn – Greek governor
France is ‘an issue’ and Trump presidency an ‘explosive mix’, says Stournaras
Sweden makes further cuts, but Norway continues to hold
Riksbank reduces rates by 25bp, but Norges Bank maintains more hawkish approach
Federal Reserve cuts rates by 25bp
Powell says effects of Trump’s proposed policies, including tariffs, remain unclear
ECB cuts rates by 25bp
Eurosystem disinflation “well on track” and council “did not discuss” TPI, says Lagarde
Bank of Canada opts for another 50bp cut
Governor says Trump tariffs would be “highly disruptive” if implemented as proposed
Trump says Powell would resign as Fed chair ‘if I told him to’
President-elect also claims tariffs would make US rich but cannot guarantee that prices will not rise
Central banking amid uncertainty and Trump 2.0
Deglobalisation set to challenge the central banking orthodoxy of the past 40 years
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Uncertainty is the only sure thing – BoE’s Lombardelli
Deputy governor says bank will use scenario planning to communicate uncertainty during volatility
Bank Indonesia holds rates as rupiah weakens
Bank says inflationary policies under Trump would boost dollar and lead to fewer Fed rate cuts