Contributing writer
Writes about the distance between what a central bank says and what it is understood to have said.
South Africa hiked into a contraction, Switzerland held at zero with inflation under 1%, and Egypt held at 19% while inflation fell. Each statement explains the choice in terms of what the shock does to that economy.
Minutes of the 24 September Market Participants Group record agreement that MPC communication fits expectations of a higher Bank Rate, a debate over technical factors in global yields, and support for the gilt-sales plan.
A Bank of Japan Review finds narrowing spreads, fewer covenants and more after-the-fact payment-in-kind loans in private credit, and asks Japanese lenders and investors to watch their links to the funds.
Gross issuance was £57.2bn against a £76.3bn six-month average, and net £3.0bn. Year to date gross is £586.0bn - £69.9bn above last year and far above the four-year average.
The Committee judged a somewhat tighter stance is needed and is prepared to go further. Governor Wolden Bache expects the rate to stay elevated for a time.
Eight scheduled announcements in 2026, Thursdays at 13:00 CST, minutes two weeks later - and an explicit reservation to change stance outside those dates if extraordinary events arise.
Locational and consolidated banking statistics for Japan go to the BIS for aggregation into the global series that measure cross-border claims, the main lens on dollar funding outside the United States.
A BoE speech names the conditional, an ECB blog measures how much speeches move markets, the BoJ lists its five core measures, and the RBI runs two operations facing opposite ways.
The 25 September press releases show the Reserve Bank absorbing liquidity through the LAF while underwriting a government security sale, with the previous day's overnight VRRR result alongside.
An Economic Bulletin box reads the run-up through a dividend discount model and notes S&P 500 earnings growth again outperforming expectations in this year's earnings seasons.