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The Latest Breaking News from Monetary Policy

Monetary policy isn’t enough to control inflation

A surprise production cut by OPEC and its mates in Russia proves once again the futility of using monetary policy to counter the inflationary impact of a rise in oil and energy prices.

Crikey

Egypt’s Central Bank Faces Multiple Crises, Limited Options

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) will hold a periodic meeting on Thursday when options to contain successive shocks to the Egyptian economy remain limited before growing local and global crises. CBE will likely raise interest rates at today’s meeting to curb inflation, which…

Asharq Al-Awsat

Stubborn inflation, tight labor market quite challenging, Miami Fed exec says

Inflation needs to be brought under better control before the Federal Reserve starts reversing its monetary policy of boosting interest rates, a Miami-based regional executive with the Federal Reserve Bank of Atlanta said Tuesday, during a regional economic summit at Key Biscayne.

Miami Herald

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3 of the Strongest Stocks to Buy Right Now

Rekindled recession worries amid upheaval in the banking sector and the Fed’s further tightening of monetary policy could keep the stock market volatile in the near term. Given this backdrop, we think the strong growth prospects of UnitedHealth Group (UNH), Danaher Corp. (DHR), and ServiceNow (NOW) make these stocks solid…

StockNews.com

Brazil's monetary policy director leaves office amid government uncertainty over replacement

Brazil's central bank monetary policy director Bruno Serra has left his position at his request, according to the official gazette on Monday, backdated to March 23, while the new administration of President Luiz Inacio Lula da Silva has yet to announce a replacement candidate.

Reuters

OPINION - We can’t let saving the banks distract from the vital war on inflation

The Bank of England is faced with the sort of choice that central bankers prefer not to confront. Inflation is far too perky, which warrants higher interest rates. The global financial system, however, is in an unexpected state of stress: the financial “central heating” is on the blink. Past financial…

Evening Standard

Official: Foundation of China's Economic Recovery not Solid Enough

The foundation of China's economic recovery is not solid enough, a senior Communist Party official said on Saturday, warning of possible spillover effects from global economic problems. Some countries have to play a balancing act as they try to stabilize their economies, prices and financial markets, said Han Wenxiu, deputy…

Asharq Al-Awsat

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Volcker slayed inflation. Bernanke saved the banks. Can Powell do both?

History remembers Paul Volcker as the slayer of inflation, and Ben Bernanke as the crisis firefighter. Jerome Powell is in danger of having to play both roles at once — or, what may be worse, to choose between them.

Tribune News Service

Bank of England lifts UK interest rates again but upgrades economic growth forecast

Monetary Policy Committee voted seven to two to increase rates

Birmingham Post

Bank of England hikes interest rates for 11th time running after leap in inflation

The Bank’s Monetary Policy Committee (MPC) decided to increase interest rates to 4.25% from 4%

The Independent UK

Bank of England raises UK interest rates by quarter-point to 4.25%

Monetary policy committee votes to increase base rate after February’s surprise rise in inflation

The Guardian - UK

Interest rates hiked to 4.25% in more misery for borrowers - what it means for your money

The latest interest rates decision was decided today by the Monetary Policy Committee (MPC) and comes off the back of inflation unexpectedly jumping to 10.4%

Daily Mirror

Gold Prices Drift Lower as Investors Focus on US Fed Meet

Gold prices edged lower on Tuesday, ahead of the Federal Reserve policy meeting as expectations grew that the US central bank would slow its monetary policy tightening given the upheaval in the banking sector. Spot gold was down 0.2% at $1,975.71 per ounce, as of 0722 GMT.

Asharq Al-Awsat

Interest rate expectations torn up across the City into Bank of England meeting

Odds on a 0.25% hike shorten after inflation shock complicates rate call after bank failures in Europe and the US

Evening Standard

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Asharq Al-Awsat

China's C.bank Warns SVB Failure Shows Impact of Rapid Global Rate Hikes

A senior official at the People's Bank of China said on Saturday the collapse of Silicon Valley Bank (SVB) showed how rapid monetary policy shifts were having spillover effects, state-owned newspaper Shanghai Securities News reported.

Miami Herald

The Week Ahead: The Federal Reserve’s dual mandate balancing act with its other big responsibility

The Federal Reserve’s dual mandate for monetary policy says nothing explicit about stabilizing the banking system or shoring up Americans’ confidence in their financial institutions. The central bank has two goals when setting interest rates: maximum employment and stable prices.

Chicago Tribune

Commentary: Independence of a nation’s central bank is the basis for price stability, especially in Ukraine

Over the past decade, the world’s central banks have become increasingly independent, which has a positive effect on their nations’ economies. It is well known that the less subordinate a central bank is to the government, the more moderate the rates of inflation are. Usually, a tight monetary policy is…

StockNews.com

Don't Let These 2 Stocks Pass You by in 2023

With inflation remaining elevated, the Fed is expected to stay restrictive with its monetary policy. This is expected to keep the stock market volatile. Amid this backdrop, it could be wise for investors to buy fundamentally strong stocks AstraZeneca PLC (AZN) and General Motors Company (GM). Keep reading.

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Crikey

Rate rises may be dead, but contractionary monetary policy is still alive

If the pundits are right and the RBA doesn’t lift interest rates next month, it will be a big turning point for the economy.

Fortune

How Fed shrapnel killed Silicon Valley Bank

Continuing to tighten monetary policy in this environment of bank blowups and declining consumer and business confidence is a surefire recipe for disaster.

Bangkok Post

Bank of Japan keeps low rates

Japan's central bank left its ultra-easy monetary policy unchanged in its last meeting before Governor Haruhiko Kuroda steps down and is replaced by economics professor Kazuo Ueda.

AFP

Bank of Japan leaves policy unchanged as Kuroda bows out

Tokyo (AFP) - Japan's central bank left its ultra-easy monetary policy unchanged on Friday in its last meeting before Governor Haruhiko Kuroda steps down and is replaced by economics professor Kazuo Ueda.

AFP

Canada central bank pauses rate hikes, holds at 4.5%

Ottawa (AFP) - The Bank of Canada on Wednesday became the first major central bank to pause its aggressive monetary policy in recent months, holding its key lending rate at 4.5 percent as inflation eased, after eight consecutive rate increases.

The Guardian - US

US has ‘long way to go’ to reduce inflation, Fed chair tells Congress

‘Ultimate level’ of interest rates likely higher than anticipated, Jerome Powell says in Fed’s monetary policy report to Senate panel

The Independent UK

Watch live: Federal Reserve chair Jerome Powell testifies before Senate committee

Watch live as the Federal Reserve chair delivers the semiannual monetary policy testimony before the Senate Banking Committee.

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