Monetary Policy
Brazil nears end of easing cycle as rates hit fresh low
Committee signals there will likely be a pause in rate cuts soon, as inflation evolves “more benignly than expected”
Mongolian central bank opposes interest rate cap
Mongolia has some of the world’s highest interest rates, but the central bank warns caps are not the right solution
Powell strikes cautiously upbeat note in first policy press conference
Federal Open Market Committee shifts economic forecasts up marginally
Tajikistan cuts policy rate as inflation stabilises
Central bank says inflation is more stable and falling, creating room for cuts
Fed’s unconventional policies similar to measures in 1920s, says research
Market operations early in the 20th century more than tripled Fed’s Treasury portfolio
Kenyan central bank condemns interest rate cap legislation
Rules introduced in 2016 have restricted access to credit for small firms and impaired the central bank’s ability to conduct monetary policy
Sarb launches its first app-based quarterly bulletin
User feedback reveals current format is cumbersome and “static”; central bank partners with external firm to create new app
Re-pricing of assets could dampen global recovery, RBA deputy warns
Debelle says equities may be mispriced and says interest rates show “puzzling” features
SNB struggles to end ultra-loose policy regime
The Swiss central bank’s hopes of normalising policy are being held back by weak expectations, a strong currency and policy actions abroad
Norges Bank board strikes more bullish tone on outlook
Stronger signs from the economy prompt the central bank to bring forward plans for first hike; new inflation target will have limited effect on policy, central bank says
UAE deposits $1.4bn with Sudan’s central bank as currency pressure continues
The country has “unsustainable” debt levels and US sanctions hurt debt relief – IMF
Ukraine’s MPC concerned over inflationary pressures – minutes
First published minutes show currency worries as deadlock blocks vote on governor
Algerian monetary financing may stoke inflation, warns IMF
In September 2017, Algiers resorted to central bank financing of budget deficits
BoJ policymakers eye hopeful signs for inflation
Policy remains on hold as inflation shows some signs of greater strength; one member calls for further easing measures
Protectionism may have ‘serious consequences’ – Canada’s Lane
US tax reforms may affect Canada’s capacity to attract investment, warns deputy governor
Paper warns emerging markets of pitfalls of credit easing
While the effects of credit easing are benign for advanced economies, developing and emerging countries may experience macroeconomic repercussions
ECB removes promise to increase bond purchases if needed
Stronger economic growth confirms previous confidence of rate-setters, Draghi says; ECB president criticises threatened tariffs
Poland delays first hike by one year
Central bank reduces its inflation forecasts for 2018 and 2019, and the zloty falls
RBNZ paper investigates weaker pass-through since 2008
Banks’ use of more stable funding sources seems to have weakened the effect of policy rate changes since 2008