Monetary policy
European Central Bank makes 25bp cut
Lagarde “confident” EU central banks will not add crypto to their reserves
Bank of Canada cuts rates and ends quantitative tightening
Macklem says monetary policy cannot offset negative effects of tariffs
Medium is the message, say Bank of Spain researchers
Coverage of policy decisions has greater impact than central banks’ own comms, study finds
Trump’s rate cuts ‘demand’ spells trouble for Fed – economists
Comments will cause problems for central bank and threaten its independence, academics claim
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
Singapore eases monetary policy for first time since 2020
Central bank slows exchange rate appreciation as core inflation falls and trade concerns loom
BoJ raises policy rate to highest level since 2008
Policy-makers raise inflation forecasts and signal further rate rises
Turkey’s central bank cuts rates by another 250bp
Second consecutive reduction comes despite inflation remaining at 44%
Norges Bank says time is not yet right for easing
Central bank holds rates, but suggests cut is likely in March
Bank of Israel governor hints at rate cuts this year
Yaron suggests up to two cuts in second half of 2025 as inflation edges towards bank’s target
Bank Negara Malaysia holds policy rate
Central bank has left key rate unchanged for 20 months against backdrop of strong growth
PBoC holds key lending rates
Move comes after China hit 5% growth target for 2024, but analysts expect further easing this year
2025 capital market expectations: slowing but not sinking
Monetary policy is the governor of the relationship between growth and inflation
Tighter credit and monetary policy hurts the young – ECB study
Borrowing limits push up rents but do not affect house prices, research shows
Bank of Korea unexpectedly holds policy rate amid political turmoil
Central bank cites need to assess political developments and incoming US administration’s policies
Bank Indonesia delivers surprise rates cut
Central bank shifts focus from backing rupiah to supporting growth with 25bp easing
ECB presidents’ displays of emotion affect markets – study
Research says leaders’ facial expressions and tones of voice amplify effects of their policy statements
BoJ to discuss whether to raise rates, deputy governor says
Himino Ryozo says policy-makers need to monitor wage growth and future US policies
BoE study suggests policy can affect inflation expectations
However, many households still have theoretically “wrong” idea about effects of tightening
IMF: $44bn loan deal to Argentina fell short of expectations
Monetary policy’s effects limited as central bank suffered heavy cashflow losses, evaluation finds
Moldova makes surprise 200bp hike
Energy prices spur up Moldovan inflation prompting unscheduled meeting