The Bank of England hikes into an energy shock as Schnabel argues for reversible tools
Within one week the BoE raised rates pre-emptively, an ECB board member listed lessons on commitments and the Riksbank moved to shrink its own currency risk.
Analysis
Currencies and central banks, read from the decision itself
Riksbank and BoJ raise rates on imported inflation that the core does not show yet
Stockholm moved on 4 November with underlying inflation at 1.6%; Tokyo's minutes show two dissenters making exactly that objection in September.
Energy shock, three readings: ECB waits on wages, Turkey's monthly CPI jumps, US runs on capex
Statements from Helsinki, Ankara and Washington this week show the same oil and gas shock landing on economies in very different states.
T+1 in October 2027, tokenised settlement next: how the ECB and UK wire up digital securities
Piero Cipollone set out the Eurosystem's path from T+1 to Pontes and Appia; days later the UK approved a link between two digital depositories for its first digital gilt.
Lane: AI added about 10% to euro area firms' capital spending plans this year
Philip R. Lane's 30 October speech puts digital investment at 3.3% of GDP and AI-exposed goods at 3.4% of the HICP, limiting the inflation effect of the AI boom.
Forecasters lift euro area inflation to 3.0% for 2026, keep long-term at 2%
The ECB's fourth-quarter Survey of Professional Forecasters raised 2027 inflation by 0.4 points to 2.6% and growth for 2026 to 1.0%; longer-term expectations stayed anchored at 2.0%.
Two holds and a strong US quarter: 48 hours of central bank news
The ECB held at 2.50% citing the energy shock, the BoJ held at 1.25% over a dissent for a hike, and US GDP grew 3.4% while PCE price growth slowed to 2.1%.
One oil shock, four answers: the Fed holds, Canada hikes, New Zealand holds, Türkiye cuts
Within a week four central banks faced the same energy-price pressure and chose differently; what separates them is where core inflation and domestic demand already stand.
Euro area firms and banks describe the same credit squeeze from opposite sides
In the ECB's SAFE survey a net 46% of firms reported higher loan rates and availability fell; in the lending survey banks tightened for firms and saw demand drop.
When a central banker opens a biodiversity summit, nature has become a balance-sheet risk
Frank Elderson's COP17 keynote frames nature loss as a matter of economic resilience, which from an ECB supervisor is a prudential statement, not an environmental one.