Monetary policy
IMF’s Adrian on the systemic threat posed by a ‘weak tail’ of financial institutions
The IMF’s financial counsellor speaks to Christopher Jeffery about bank runs and emergency interventions, market and oversight failings, and the need for action on run rate assumptions, interest rate risk, deposit insurance, crypto regulation and a ‘weak…
Advanced economies face slowdown and stubborn inflation
Jagjit Chadha analyses the shifting outlook for the world economy, with more hard work ahead for central banks
Eurozone interest rates should increase further, says Nagel
Bundesbank president stresses ECB will start reducing balance sheet at a faster pace from July
Brazil’s president selects ally for central bank board
Lula has repeatedly attacked central bank independence as well as the governor
Riksbank makes mistake publishing policy minutes
Swedish central bank says it takes the incident seriously and will strengthen procedures and controls
Colombia hikes rates in split decision
Meeting was last for finance minister Ocampo, who lost job in reshuffle
Norges Bank increases rates by 25bp
Norwegian central bank says weaker exchange rate may require higher rates than expected
ECB slows down tightening with 25bp rate increase
Lagarde insists the governing council is “not pausing” its tightening cycle
Brazilian MPC holds key rate again
Central bank warns of “lingering uncertainty” over future fiscal policy
Russian governor Nabiullina warns of future hikes
Bank will raise rates if structural deficit rises, while labour market is “complicated”, governor says
Book notes: The rise of central banks, by Leon Wansleben
The books is at its best when the author focusses on sociological angles related to central bank economics
Fed raises rates by 25bp as it chases lower core inflation
Policy-makers still need to “take away the punch bowl”, economist says
Fed inspector says FOMC should look at extending trading rules
Internal watchdog also finds shortcomings in enforcement and review
What economists learned from Covid-19
A rush of work on ‘epi-macro’ yielded breakthroughs and then faded. Will there be lasting benefits?
Eurozone inflation rises to 7% in April
Core inflation declined to 5.6%, but energy prices grew again
BoG’s Addison: Ghana agrees to end monetary financing
Governor says MoU with finance ministry “has been finalised”, and the IMF deal will come by the end of May
Central bank negative equity: a risk governance perspective
Janet Cosier explains how risk planning, recapitalisation and transparency are key as central banks incur financial losses
ECB says Hungary has infringed central bank autonomy
Frankfurt says restrictions on bond buying interfere with monetary policy
New BoJ governor announces monetary policy review
Bank of Japan keeps ultra-loose policy unchanged at Ueda’s first policy meeting
Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
BSP governor warns against cutting rates faster than the Fed
Medalla’s comment follows central bank’s recent move to support the peso
Climate change and the role for central banks
Gavin Bingham, Andrew Large and Paul Fisher explain how climate change affects central banks and the competing tensions it raises in relation to policy responses
UAE launches ‘t-sukuk’ to support monetary policy
Central bank continues to implement its new dirham monetary framework