Central Banks latest publications
No surprises came out of last Thursday's ECB meeting, with the expected announcement of a reduction in asset buybacks under its pandemic emergency purchase program (PEPP). The big decisions on monetary policy measures will have to wait until its meets on December 16.
The Board of the Central Bank decided to increase the monetary policy rate from 0,50% to 1,00% in September. The Bank maintains an expansive policy stance but no longer mentions that it is considered appropriate.
As expected, the ECB announced a moderate slower pace of net asset purchases under the PEPP for next quarter, as compared to that in the previous two quarters. The decision was taken by unanimity by the Governing council on the back of favourable financing conditions and slightly better inflation outlook
Inflation in August had a monthly variation of 0.45% and stood at 4.44% in annual terms. Foodstuffs continue to be the protagonists in recent increases, although price increases in other goods and services that are highly dependent on the exchange rate.
The Consumer Price Index of the city of Lima (CPI) increased in August by 0.98% MoM. The pass-through of the higher exchange rate to prices and the high international prices of imported inputs such as food and fuels continue to explain much of the rapid increase in prices.
This week will be of great interest to the global financial markets. As of today begins the annual meeting of Jackson Hole -organized by the Federal Reserve of Kansas City- that brings together financial and monetary authorities of the world
August 20, 2021
China | Understanding the recent hot topics on Chinese economy and financial markets
The report is trying to help to understand the recent important hot topics on Chinese economy and financial markets, including the ongoing regulatory storms, the crucial transformation of China’s industrial policy, the monetary policy independency and the ultimate goal of China’s financial liberalization reform.
August 13, 2021
Peru | BCRP hikes monetary policy rate given the deterioration of the inflation panorama
The Board of the Central Bank decided to increase the monetary policy rate by 0,25% to 0,50% in August. The Bank maintains an expansive stance but will pay special attention to inflation expectations to consider modifications to the policy stance.