Interest rates
Germany needs tighter fiscal policy, Nagel says
EU Stability and Growth Pact should have stricter fiscal rules, Bundesbank president argues
Mexico and Guatemala continue to hold rates
Inflation is still falling, but Banxico expects rates will stay high for some time
Monetary policy tops US CFOs’ concerns
Survey finds high rates curtailing spending in 40% of firms
Fewer central banks added new reserve assets in 2023
Overall, 10.3% of institutions diversified their asset allocation, down from 18.6% last year
Milei picks professor to be (last) central bank governor
Argentinian candidate picks dollarisation advocate for BCRA
BoT unexpectedly raises policy rate by 25bp
Central bank cut inflation and growth forecasts for 2023, but raises next year’s projections
Joachim Nagel on the ECB’s terminal rate, fiscal policy, model relevance and the digital euro
The Deutsche Bundesbank president speaks about compromise on the Governing Council, rolling back PEPP, the need to implement Basel III and the chances of a revised Stability and Growth Pact
BoJ leaders divided on wage growth and timing of tightening
July minutes show disagreement over when firms will raise wages
Ghanaian MPC holds rates while Guinea opts for 50bp rise
Addison says Ghana’s growth will outstrip IMF forecast but reserves remain extremely low
South Africa and Egypt both hold policy rates
Sarb governor says job of fighting inflation “is not yet done”
Stress-testing the banking system: what lies ahead?
Pedro Duarte Neves says stress tests must evolve to capture systemic, liquidity and cyber risks
Colombian policy-makers clash over rates
Finance minister wants “very small” rate cut, but central bank board member disagrees
OECD says interest rates should stay high ‘until well into 2024’
Report says monetary policy needs to stay tight until underlying inflationary pressures are lowered
IMF members will meet SDR interest payments, says paper
Fund publication notes interest rates on SDR rose sharply in last two years
BoJ keeps negative rates unchanged
Ueda says more time is needed to assess whether rising wages are supporting inflation
Riksbank and Norges Bank continue increasing rates
Swedish central bank hikes rates to 4%, Norwegian to 4.25%
Latin America roundup: Brazil makes second 50bp rate cut
Paraguay eases rates down, while Costa Rica holds as negative inflation continues
Bank of England pauses for first time since December 2021
MPC votes 5–4 to halt cycle amid slowing inflation and a sluggish economy
SNB surprises markets by holding rates at 1.75%
Swiss central bank to allow all banks to use mortgages as collateral to access liquidity
Asian central banks hold rates
Philippines, Indonesia, Taiwan and Hong Kong stay put
Canadian official says mortgage rates not big cause of inflation
Kozicki says taking home loans out would make only small dent in core reading
Inflation battles often last more than five years, IMF paper says
Disinflations usually do not need prolonged falls in output, employment or wages
Peru’s central bank makes first rate cut since pandemic
Central bank joins Brazil and Chile in easing policy as inflation falls
Basel Committee will look at interest rate risk and liquidity reforms
Pablo Hernández de Cos says more analysis needed on minimum capital for interest rate risk