Monetary Policy
Communications Benchmarks 2021 report – executive summary
Insights into staffing and salaries, channels, social media, new technology and strategies
Bank of Russia increases policy rate 100bp
Central bank announces fourth rate hike of year amid rising inflation expectations
ECB bond holdings exposed to nature-related financial risks – paper
Study warns corporate bond holdings rely on ‘ecosystem services’ and contribute to biodiversity loss
Weidmann: inflation heading ‘in the direction of 5%’
But the Bundesbank president defends the ECB’s new policy framework
BIS paper warns against ‘timid’ QE and ‘debt-averse’ fiscal policy
Policy mistakes at zero lower bound can worsen economic problems, authors say
Powerful companies are diluting monetary policy effectiveness – IMF
Competition policies are needed to ensure central banks can use monetary policy effectively
ECB reinforces commitment to monetary stimulus
Central bank expects inflation to reach 2% “durably”, midway through its projection horizon
ECB set to adapt forward guidance in July meeting
Analysts expect ECB to adjust policy to meet goals of recent strategy review
Incoming BoE policy-maker says inflation ‘momentum’ is easing
Catherine Mann says price rises appear to be starting to taper off
The ‘golden age’ of central banking has passed
Central banks face multi-faceted challenges and weakened autonomy amid highly polarised inflation expectations
Belarus raises interest rates 75 basis points
National Bank orders second hike of the year to combat inflation
BoJ to offer zero-interest loans for climate projects
Central bank highlights five areas of focus in new climate strategy
UK politicians criticise BoE over handling of QE
Critical report comes as BoE MPC member suggests asset purchases may need to be halted early
The ECB’s monetary policy strategy review
The ECB’s founding monetary policy architect, Otmar Issing, offers some initial perspectives on the ECB’s strategy review
Chile’s central bank starts tightening cycle
Board votes to increase rates by 25bp amid rapid recovery and above-target inflation
Senior Fed officials differ on taper
Powell stands firm, but two regional presidents suggest a sooner-than-later approach
Bank of Canada continues taper
Central bank reduces QE by one-third to $2 billion weekly, but keeps interest rates stable
Paper analyses eurozone consumers’ inflation expectations
Short-term views, trust and Covid-19 shaped medium-term expectations – Bank of Finland paper
RBNZ calls halt to quantitative easing
Central bank has bought considerably less than its NZ$100 billion limit
ECB’s new target not expected to influence Denmark’s policy
Danish central bank agrees with ECB that climate change may impact price and financial stability
New inflation target set to bind ECB to ‘lower for longer’ strategy
Symmetric 2% target should allow council to boost APP purchases as Pepp is phased out, say analysts
FOMC minutes show some disagreement on inflation
Some participants think US inflation pressures may continue into 2022
ECB adopts 2% symmetric inflation target
Central bank chooses not to follow Federal Reserve’s lead on average inflation targeting
BdF paper analyses inflation tolerance ranges
Ranges “should not be zones of inaction” and may have unfavourable trade-offs, researchers say