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Chris Giles on Central Banks

‘Chris Giles on Central Banks’ is the latest weekly newsletter (sign up here) from the Financial Times. Written by economics commentator and former economics editor Chris Giles, it is an essential guide to money, interest rates, inflation and what central banks are thinking.

The newsletter dissects the current trends, discussing the latest thinking on economics relevant to central banking. It provides in depth commentary on the big themes, generating engagement with readers, as well as linking to other central banking stories on FT.com and elsewhere.

  • Tuesday, 16 April, 2024
    Global inflation
    Three errors in inflation control Premium content

    Inconsequential reforms suggested for the Bank of England, misjudged US inflation and markets, and extrapolating too much

    Former US Federal Reserve chair Ben Bernanke gestures as he speaks to reporters in London
  • Tuesday, 9 April, 2024
    Central banks
    Central banks lower the bar for rate cuts Premium content

    That is, as long as the data does not deliver a nasty surprise

    Montage including photos of Jay Powell, Christine Lagarde and Andrew Bailey
  • Tuesday, 12 March, 2024
    Central banks
    Can rate cuts and quantitative tightening mix?

    The current thinking is that they can, but there will be limits to asset sales

    Christine Lagarde
  • Tuesday, 5 March, 2024
    Central banks
    Does quantitative easing deserve to come out of the sin bin? Premium content

    The international success of quantitative tightening strengthens the case for money printing

    Storm clouds over the US Federal Reserve building in Washington
  • Tuesday, 27 February, 2024
    Central banks
    Scenarios won’t transform economic forecasts Premium content

    Central bankers will still have to make policy in the world as they find it

    A cup of tea with tea leaves visible
  • Tuesday, 20 February, 2024
    US inflation
    What caused the great inflation? Premium content

    An international comparison unmasks the culprits and has a sting in the tail

    Vladimir Putin examines some tomatoes on the vine
  • Tuesday, 13 February, 2024
    Central banks
    Will wage growth keep inflation too high? Premium content

    There is little sign of a wage price spiral in the US or eurozone, but the UK is on the edge

    Workers take part in a strike in Mainz, Germany
  • Tuesday, 6 February, 2024
    Central banks
    Dhingra urges BoE not to take a risk with the UK economy Premium content

    Dovish rate setter says inflation has been tamed and now is the time to cut interest rates

    Swati Dhingra
  • Tuesday, 30 January, 2024
    Central banks
    The Fed’s battle against inflation is almost complete

    Disinflation is evident, however you look at the price statistics

    The Fed building
  • Tuesday, 23 January, 2024
    Central banks
    2024 is still the year for rate cuts Premium content

    It is time to take stock as the first big monetary policy meetings of the year take place

    Photo of a gopher tortoise
  • Tuesday, 16 January, 2024
    Central banks
    Central banks look likely to be late in cutting rates Premium content

    It’s hard to be nimble when you exaggerate uncertainties

    People walk on the beach as a container ship passes before entering the Suez Canal
  • Tuesday, 9 January, 2024
    Central banks
    A jittery Fed meets serene markets

    Cutting rates too little too late is the likely consequence of policymakers unsure about everything

    A Wall Street sign hangs in front of the New York Stock Exchange
  • Tuesday, 2 January, 2024
    US interest rates
    If Fed calls time on rate rises, how far will it go? Premium content

    Markets expect steeper cuts in 2024 than officials, but there are clues to what the bank will do

    Federal Reserve chair Jay Powell
  • Tuesday, 19 December, 2023
    Central banks
    Central banks struggle with changing facts Premium content

    Whether they changed their minds or stuck firm, markets did not believe them

    A menu at a grilled sausage and steak vendor at a Christmas market in Berlin, Germany
  • Tuesday, 12 December, 2023
    Central banks
    Is the last mile really the hardest?

    When it comes to reducing inflation, central bankers think it is

  • Tuesday, 5 December, 2023
    Central banks
    The public are clueless about inflation

    That means interest rates are likely to stay high for too long

    A sign reading ‘Anti-inflation challenge, third price cut on more than 500 new products’ is seen as customers shop at a Carrefour supermarket near Paris
  • Tuesday, 28 November, 2023
    Central banks
    Do we still need to talk about inflation? Premium content

    Stephen D King on why his book is still relevant

    Stephen D King
  • Tuesday, 21 November, 2023
    Central banks
    Emerging market central banks may be trumping the Fed and ECB

    Policymakers in advanced markets have lessons to learn from Latin America and Asia, though caveats should be noted

    The Central Bank of Brazil in Brasilia
  • Tuesday, 14 November, 2023
    Japanese economy
    Japan’s elusive wage-price spiral

    The central bank rightly still worries inflation will be too low

    Bank of Japan governor Kazuo Ueda speaks to the media
  • Tuesday, 7 November, 2023
    Central banks
    Should we believe what central bankers are saying? Premium content

    There has been a lot of talk in recent weeks — not all of it was informative

    ECB president Christine Lagarde speaks to reporters after the governing council’s monetary policy meeting in Athens last month
  • Tuesday, 31 October, 2023
    Central banks
    Central banks hold interest rates at a scary time Premium content

    The Bank of Canada and European Central Bank’s thinking diverges on economic shocks

    ECB president Christine Lagarde pictured in Athens last week
  • Tuesday, 24 October, 2023
    Central banks
    Chris Giles on inflation crimes and misdemeanours

    The end of price stability has unleashed an epidemic of rigid or sloppy thinking

    Jay Powell
  • Tuesday, 17 October, 2023
    Central banks
    Chris Giles on how to solve the Bank of England’s forecasting problem

    In my first newsletter: advice for Ben Bernanke, former head of the US Federal Reserve

    Ben Bernanke
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