News/Monetary Policy
Bank of Japan maintains ultra-loose policy
Ueda says the chance of Japan achieving sustainable above-target inflation is increasing
Swedish inflation expectations remain anchored, research finds
Riksbank economists highlight central bank actions to tackle both low and high inflation
Bank of Russia raises rates again
Nabiullina warns of “pro-inflationary risks” from increased government spending on war
Brazilian MPC makes fourth consecutive 50bp cut
MPC unanimously anticipates cuts of the same magnitude in next meetings
Mexico holds rates again, while Peru cuts
Peruvian board says inflation is falling faster, while Banxico predicts more gradual disinflation
PBoC carries out record liquidity injection
Chinese authorities relax home-buying rules in Beijing and Shanghai
ECB holds rates as it lowers inflation expectations
Central bank intends to stop reinvesting maturing assets under PEPP in second half of 2024
BoE holds rates for third straight meeting
“There is still a long way to go,” says Bailey
Philippines and Hong Kong hold rates
BSP governor says monetary policy has to remain “sufficiently tight” to bring inflation back to target
SNB lowers inflation expectations as it keeps rates at 1.75%
Swiss central bank adopts a more dovish communication, analysts expect rate cuts early in 2024
FOMC holds rates again, ending year at 5.25–5.5%
“Committee is proceeding carefully” as inflation recedes, but slowly, says Powell
ECB paper attempts to measure spillovers from Fed policy
Authors use asset price data to estimate global effects of FOMC moves
New Zealand’s government returns central bank to single mandate
New coalition government says Labour’s shift to a dual mandate in 2018 was “a mistake”
Higher rates will push up firms’ debt costs gradually, says research
Authors warn that financial vulnerability could stem from higher for longer rates
Australian government and RBA agree dual mandate for central bank
RBA to begin publishing unattributed record of votes for its monetary policy decisions
Bank of Canada holds rates steady
Macklem says it’s clear the stance of policy is restricting inflationary pressures
Kenya increases policy rate by 200bp to strengthen shilling
Governor says equilibrium rate has been ‘overshot’
BoJ’s Himino highlights benefits of ending negative rates
Deputy governor says there has been ‘solid progress’ in firms’ price and wage-setting behaviour
ECB’s Schnabel does not rule out rate cut before mid-2024
Executive board member deems more rate hikes “rather unlikely”
Minutes: Riskbank united in policy hold
Board members stress having more policy meetings will give them flexibility in 2024
Vietnam government to probe central bank’s credit management
Credit growth is far below the SBV’s 14% annual target amid property sector downturn
Bank of Thailand pauses rate hikes after inflation turns negative
Central bank cuts GDP forecasts amid signs of tension with government over fiscal stimulus
Bank of Korea holds rates and raises inflation forecasts
Governor says interest rates could stay high for more than six months