Operating framework
Bank lawsuit pushes Fed to rethink monetary system
The Narrow Bank has the potential to alter how the Fed conducts monetary policy
Future balance sheet size hard to judge – BoE’s Ramsden
Reserves demand likely to become more important as QE winds down, but how large the balance sheet will be is an “open and difficult question”, deputy says
Argentina adopts floating exchange rate regime to tackle peso crisis
IMF extends running standby arrangement to $57.1 billion
Boston Fed economists call for monetary policy evaluations
Effective lower bound and reduced ability to stabilise the economy warrant a rethink of the monetary policy framework, economists say
Zimbabwe may axe bond note scheme – finance minister
Incoming finance minister says priority will be currency reform
New Zealand to open next phase of RBNZ act review
Labour government to review case for separating prudential supervision from the central bank
IMF paper proposes cash-based solution to zero lower bound
“Decoupling” cash from electronic money could be an alternative to QE or a higher inflation target, the authors say
Brian Wynter on Jamaica’s inflation-targeting transition
Jamaican governor says the end of fiscal dominance plus the creation of a two-way forex market and an effective interest rate policy mechanism essential for “full-fledged” inflation target
Trump and Erdoğan: cut from the same populist cloth
Barry Eichengreen compares the respective strongmen of the US and Turkey, as the latter country spirals towards crisis
NY Fed’s Potter: technical tweak helped avoid breaching target range
Effective federal funds rate has been rising in the target range, but head of markets says he does not see much evidence of rates becoming more sensitive to reserves balances
BoE mulls post-QE balance sheet policy
Central bank is “minded” to retain its floor system for setting rates, but demand for reserves is an unknown quantity
SNB chairman dismisses calls for revised inflation targets
Jordan says raising targets would 'harm credibility' built up over decades; sees room for more negative rates
IMF demands reinforced inflation targeting in Argentina
A new central bank charter should reinforce independence, fund says
IMF aims at major reforms of Malawi’s central bank
Aid aims to help central bank move to interest-rate-based framework and inflation targeting
Argentina tweaks monetary policy framework
Committee will now meet once a month and publish members’ votes
Danish governor reflects on central bank’s legacy at 200th anniversary
Fixed exchange rate adopted in 1982 was a turning point, Rohde says
New Jamaican law could end Caribbean’s ‘colonial era’
Granting the Bank of Jamaica operational independence to pursue an inflation target could transform central banking in the Caribbean
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target
PBoC cuts RRR amid growing instability
The move will release $108 billion amid concerns on the slowing economy and trade disputes
Argentina falters at ‘historic’ moment for BCRA
Replacing Federico Sturzenegger with a finance minister with close ties to the president sends a confused signal about central bank independence
SNB should clearly assign policy tools, IMF report says
SNB can avoid impression of exchange-rate targeting through better communication, says IMF
Experts warn Mexico’s peso defence could be costly
Risks on the horizon prompt concerns around the Bank of Mexico’s approach to forex volatility
Sarb should adopt mid-point in inflation target band – IMF
Inflation expectations could be lowered with the explicit adoption of a mid-point at an “opportune time”, fund says