Fiscal policy
IMF: $44bn loan deal to Argentina fell short of expectations
Monetary policy’s effects limited as central bank suffered heavy cashflow losses, evaluation finds
Colombia surprises markets and slows easing cycle
Quarter point cut a “strong message” of independence by central bank, analysts say
CNB’s Aleš Michl on tackling inflation, Friedman’s legacy and ditching DSGE
The Czech governor speaks about policy mistakes, targeting M2, diversifying into equities and gold, building new models and ending interest payments on minimum reserves
Federal Reserve cuts rates by 25bp
Powell says effects of Trump’s proposed policies, including tariffs, remain unclear
Brazil raises rates again amid fiscal woes
Central bank tightens policy by 100bp in unanimous decision as inflation continues to overshoot
BIS highlights market ‘uneasiness’ over bond issuance
Claudio Borio says fiscal outlook worldwide is “acutely worrying”
China shifts to ‘moderately loose’ monetary policy stance
Officials also vow to pursue “more proactive” fiscal stance next year
Inheritance tax avoidance has fiscal impact – Bank of Spain study
Paper says loopholes led to effective reduction in tax rate of 1.3 percentage points in Catalonia
South Korea pledges ‘unlimited liquidity’ to stabilise markets
Authorities ready to support stock, bond, short-term funding and FX markets amid political turmoil
OECD highlights ‘resilient’ economies beset by risks
Geopolitics, high public debt and possible repricing in private credit markets threaten outlook
Savings, not debt, can finance EU growth – Villeroy de Galhau
Governments need “strategic pivot” to meet structural challenges, says BdF governor
Fifth review: done. How Ukraine set a record in passed IMF reviews
NBU governor Andriy Pyshnyy says unlocking funding has become a matter of survival for his country
Tombini warns of false sense of stability in markets
BIS official says participants need to price in significant uncertainty over economic policy
Policy-makers lament uncertainty following US election
Speakers at Central Banking Autumn Meetings say policies will be marked by unpredictability
Minneapolis Fed chief shares concerns about tit-for-tat tariffs
Kashkari points to heightened risk of inflation but insists US economy is “strong”
Ruling party loyalist to become new BoT chair
Appointment of Kittiratt Na-Ranong will increase concerns about erosion of bank’s independence
Covid stimulus did not trigger US inflation surge – NBER study
Working paper says QE and fiscal stimulus had minimal impact on price rises
Bank of England cuts policy rate to 4.75%
Policy committee votes by 8–1 to reduce bank rate by 25bp
Thailand delays selection of central bank chair
Decision follows warning against political interference from four former governors
Colombia cuts rates by 50bp in split decision
Recent constitutional reform bill could hurt fiscal sustainability, says central bank
Bill aims to remove Tunisian central bank’s independence
Proposed law would also allow direct monetary financing of Treasury