Growth
BoJ projects inflation will climb to 1% by mid-2022
Haruhiko Kuroda says BoJ must continue “powerful” monetary easing with QQE and yield curve control
Bank of Mexico proceeds with gradual tightening process
Central bank increases interest rate by 25 basis points to 5% on higher inflation
Lane makes case that inflation surge is transitory
ECB chief economist stresses weak mid-term inflation dynamics in the eurozone
German tabloids ramp up personal attacks on Lagarde
ECB board member Isabel Schnabel says “inciting hatred” is “unacceptable”
BoE surprises with rate hold as inflation forecasts reach 5%
Market-implied path for interest rates rises to 1% by end-2022
Fed pulls trigger on taper
Fed begins phasing out QE at initial rate of $15 billion per month
Bank of Canada ends QE
Inflation proving “stronger and more persistent than expected”
BSP governor sides with ‘team transitory’ as inflation stays high
Philippine inflation averaged 4.5% during the first nine months this year, well above target
PBoC suffers headaches from growth, energy and Evergrande
Yi Gang mulls property sector risks, as China’s growth hits one-year low
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
Covid-19, crypto and climate weigh on global economy – GFSR
Central banks face difficult “intertemporal trade-offs”; poorer nations unlikely to regain pre-Covid growth levels for “many, many years”, says IMF’s financial counsellor Tobias Adrian
Some ECB rate-setters concerned over inflation
Minutes show certain governing council members called for sharper cut in asset purchases
Evergrande tests China’s commitment to deleveraging
Chinese officials are having to choose between near-term growth and long-term economic health
RBNZ begins monetary tightening with 25bp hike
Central bank is confident inflation will return to target, but says growth will be “volatile”
Czech central bank raises rates despite government pressure
Board votes to increase repo rate 75bp as inflation rises above 4% for first time since 2008
Bailey puzzles over UK labour market signals
A lot of people are still out of the labour market, but unemployment remains low
Zambia reinstates Kalyalya as central bank governor
Former World Bank official takes over following resignation of previous president’s central bank pick
Wide range of financial stability arrangements among central banks
Boards are prime financial stability decision-making body at many participants
UK looks to boost long-term investing
Working group says action needed to encourage illiquid investing without risking instability
BoE cuts UK growth forecast
Inflation likely to stay above 4% for first half of 2022 amid supply constraints and energy squeeze – MPC
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
Foreign vulnerabilities can affect domestic growth – BoE paper
Study of ‘GDP-at-risk’ shows financial factors overseas can lead to worse outcomes locally
Paraguay’s central bank raises rates to 1.5%
MPC says monetary policy normalisation should continue in wake of rising inflation