Details matter: How loan pricing affects monetary policy transmission in the euro area
Classifying loans as fixed-rate or floating-rate fails to fully capture their distinct sensitivity to changes in ECB policy rates. This column analyses the maturity of
Bank specialization and the transmission of euro area monetary policy
Bank lending is a key channel through which monetary policy affects the real economy. This column explores how the effects of monetary policy on credit
U.S. China trade tensions send Aussie sliding 1%, boost safe havens
Aussie slides as investors flock to safe-havens, yen strenghtens. The Australian dollar tumbled on Tuesday, while the safe-haven Swiss franc and Japanese yen strengthened as
Gold leaps above $4,100 on Fed rate cut hopes, US-China trade tension
Fed Chair Powell to address NABE annual meeting on Tuesday. Gold prices jumped to a record high above $4,100 on Tuesday, supported by rising expectations
Yen and euro struggle as Japan and France’s political dramas heat up
French political quagmire leaves euro at two-month lows. The yen stabilised on Friday but was still headed for its steepest weekly drop in a year
Egypt’s annual inflation slows to 11.7% in September
Annual inflation has plunged from a record high of 38% in September 2023. Egypt’s annual urban consumer price inflation slowed to 11.7% in September from
Communicating monetary policy by a committee: Echoes that move markets
Central banks rarely speak with one voice. At the Federal Reserve, for instance, each official brings a distinct perspective, and markets parse every speech for
25% inflation, 50 years on
UK CPI inflation in 1975 reached 25%, a period now known as the ‘Great Inflation’. This column uses a range of empirical and narrative evidence
The return of inflation: Why ‘look through’ can backfire under incomplete information
Central banks facing post-pandemic inflation often considered ‘looking through’ supply shocks. Using a New Keynesian framework in which agents gradually learn whether a cost-push shock
Dollar choppy after Fed decision; pound steady after BoE keeps rates steady
The pound initially edged up after the BoE’s decision, but pared those gains to trade slightly lower on the day at $1.3622. The U.S. dollar
