Monetary policy
US politicians urge Fed to lower interest rates
Democratic senators and congress members say CPI likely to be “grossly overstating” inflation
How the Czech National Bank brought inflation down from 18% to 2% in two years
Governor Aleš Michl on the road to 2% inflation and future profitability
How to cut the interest cost of bank reserves – and how not to do it
William Allen says setting required reserves is not a straightforward decision for the Bank of England
Bank of Thailand holds rate again
Policy-makers agree to hold rate despite government pressure to cut
BoJ hawkishness due to weak yen belies wage inflation concerns
The contrast in Japan-US economic, price and wage performance and their implications for monetary policies
Pakistan cuts interest rates for first time in five years
Central bank says growth of exports and remittances bolsters foreign exchange reserves
Most central banks resistant to crypto in retail payments
Just six central banks are open to retail payments being facilitated by digital assets like bitcoin
ECB cuts policy rate by 25 basis points
Strong eurozone wage growth rules out commitment to further cuts, says governing council
Bank of Canada reduces rates by 25bp
Macklem says runway for a soft landing is in sight and policy is working
Lessons from the banking turmoil of 2023
Guardrails on capital, liquidity, deposit insurance, resolution, digitalisation and disintermediation need a rethink
How Argentina’s financial tango could become a dance of death
Central bank and government’s unholy alliance is storing up further trouble for economy
Lkhagvasuren Byadran on geopolitics, gold and 100 years of central banking on the steppe
Bank of Mongolia governor Lkhagvasuren Byadran speaks about monetary and financial reform, embracing AI and fintech, and Mongolia’s new SWF
Are low-level inflation targets still fit for purpose?
Geostrategic shifts make the case for a narrow price target less compelling
Book notes: Balance of power: central banks and the fate of democracies, by Éric Monnet and translated by Steven Rendall
This short book offers partial insights, but ultimately underwhelms
BSP policy-makers’ staff resign over absence allegations
Philippine central bank says an internal probe identified six staff and disciplinary proceedings are ongoing
ECB is ready to cut rates, chief economist says
Next steps in ECB’s easing cycle will be “bumpy” and “gradual”, says Philip Lane
Risks facing central banks: action and inaction
Unlike Fed policy in the 1990s, central bank actions this century do not appear overly accommodative, given poor policy decisions elsewhere, writes Andrew Smithers
ECB paper recommends central fiscal instrument
Governments’ ability to delay fiscal consolidation should be limited, researchers argue
Egypt holds policy rates
Central bank says improved external financing after IMF loan will help price stability
FOMC members concerned over US inflation, minutes show
Some committee members sought to maintain pace of Fed’s balance sheet selloff
Can US policy choices explain economic divergence?
NIESR’s Ahmet Kaya finds US fiscal stimulus may have masked standard economic relationships, but economic gravity may soon reassert itself
IMF says Iceland’s path is clear to easing rates
Housing and bank supervision remain a concern and central bank independence needs safeguards
Bailey predicts ‘significant increase’ in BoE repo operations
Banks have started demanding reserves through short-term repo facility as balance sheet shrinks
Nigerian central bank raises rates for third consecutive time
MPC says tight policy is starting to work but calls for more action on food security