Inflation
Book notes: The crisis of democratic capitalism, by Martin Wolf
A sincere attempt to explain and fix the failing of capitalism in liberal democracies
Brazil makes first rate cut in cycle
Board divides 5–4 over size of reduction, with majority backing larger 50bp option
BoE raises rate 25bp as ‘mixed’ data clouds outlook
“I don’t think it is time to declare it is all over,” Bailey says
AI can forecast inflation more accurately than professionals – St Louis Fed
Large language models may be powerful tools but have some drawbacks, researchers say
Colombian central bank holds rates for second meeting
Board stresses inflation remains higher than in advanced economies and Latin American neighbours
Malawi raises rates as inflation continues climbing
Russia-Ukraine war and adverse weather events exacerbating food inflation
RBA holds policy rate as inflation eases
Lowe says inflation is falling but remains too high
Currency round-up: Uganda considers dropping smallest note
Suriname banker calls for larger denominations, while Chilean ex-governor opposes them
Argentina reaches provisional agreement with IMF
Fund may continue loan despite non-compliance and ease reserve targets
Chilean central bank starts easing cycle with 100bp rate cut
Board says inflation is falling faster than expected and signals further reductions
Myanmar to release new top-denomination banknote
Note will commemorate white elephant, as opposition accuses government of monetary financing
Bernanke to lead BoE review of inflation forecasting
Former Federal Reserve chair will work with Bank of England officials
ECB raises rates again but Lagarde says pause is possible
Eurozone banks to receive zero interest on minimum reserves
Costa Rica cuts rates again as inflation turns negative
Strong currency and base effects contribute to unusual readings, central bank board says
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
‘Supercore inflation’ is a key indicator, Fed paper argues
Non-housing core service prices behaved very differently in 2019 and 2021, researchers say
ECB approaching end of tightening cycle, analysts say
Divisions on governing council are creating communications challenge
Canada opposition leader repeats promise to fire governor
Poilievre accuses government of interfering in central bank
Russian central bank raises rates and warns of more to come
Nabiullina says inflationary pressures are rising and warns of effects of bigger fiscal deficit
Sarb pauses rate rises in split decision
MPC votes 3–2 to hold rates at 8.25% after inflation falls within target range
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
Nagel calls on German government to tighten fiscal stance
Public spending needs to fall to lower inflation, says Bundesbank president
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
ECB needs to maintain tight policy, says IMF
Policy rates, rather than quantitative tightening, should be main tool, IMF directors say