News/Monetary Policy
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
RBNZ’s Orr backs use of indigenous language
Governor defends services in Māori as new government vows to cut use of indigenous language
Bank of Israel keeps interest rates unchanged
Yaron warns government over fiscal policy as central bank cuts growth forecast
ECB willing to hike rates further, say minutes
Governing council stresses it needs to be persistent and vigilant to bring inflation to 2% target
Incoming New Zealand government pledges to return to single price stability goal
New coalition government agrees to amend central bank laws to remove RBNZ’s dual mandate
Turkish central bank raises rates above market expectations
MPC hints it may be near end of tightening cycle despite continuing high inflation
Riksbank keeps policy rate at 4%
Most analysts think the Swedish central bank has reached peak rate
Nigerian central bank again postpones policy meeting
CBN has not held policy meeting since May despite 10 months of rising inflation
Albania, Armenia and North Macedonia make policy decisions
North Macedonia pauses tightening as Albania’s continues, while Armenia faces 0% inflation
Moldova cuts rates steeply while Romania holds
IMF says Moldovan central bank has largely neutralised second-round effects
PBoC increases liquidity as China acts on local debt
Central bank may cut lenders’ reserve requirement ratio soon, analysts say