Monetary Policy
Emerging markets pass capital flows test
BIS report concludes inflows are broadly positive, as improved EM institutions make them more resilient
Policymakers should consider adjusting ECB’s target – BdF paper
Lower eurozone r* points to adjustment of monetary policy strategy, researchers find
Don’t dismiss inflation risks but don’t overreact, say central bankers
Sbordone, Smets and Vlieghe weigh up challenges for central banks in the “return towards normal”
BoE paper explores liquidity traps with ‘Hank’ model
Precautionary savings can send economy into deflationary spiral, authors find
The new era of money supply and its impact on policy
The empirical relationship between money and inflation has changed, writes Manmohan Singh, with Apoorv Bhargava and Peter Stella. To understand current policy challenges, we must first understand money creation
NY Fed updates Treasuries purchasing programme
New York Fed changes maturity ranges and sector weights of bond purchases
ECB rate-setters ‘broadly agree’ with loose policy
Governing council members warned financing conditions were still tighter than in December 2020
Bank of Mexico holds rates despite above-target inflation
Central bank keeps policy rate at 4% as inflation rose year on year by 6.1% in April
RBI set to launch second round of asset purchases
Indian central bank seeks to curb borrowing costs amid severe Covid-19 outbreak
Fed leaders hold dovish line as CPI surges
Board members and regional presidents say inflation and employment goals still far from met
Paycheck protection facility supported lending – Fed paper
Study finds liquidity facility helped banks lend more to small businesses during the Covid-19 crisis
Central banks have limited tools to tackle inequality – Carstens
Inequality is an issue for central bankers, but they cannot solve it on their own, says BIS chief
Turkish central bank again holds rates despite rising prices
CBRT says it will hold policy rate at 19% until it sees significant fall in inflationary pressures
Fed clarifies account access rules for fintech firms
Proposals address growing number of firms seeking access to the central bank’s balance sheet
BoE forecasts 7.25% UK growth in 2021
Bailey warns downside risks to the outlook remain
Brazilian central bank hikes rates as inflation rises
Board says it is likely to announce another rate hike in June but says inflationary shocks are temporary
Yellen unsettles markets with rate rise comments
Treasury secretary’s offhand comment about raising interest rates leads to stock selloff
Ukraine’s MPC minutes show worries over inflation and war
Some MPC members warn NBU may have to continue tightening rates as pressures mount
Armenia central bank raises policy rate 50bp
Inflation forces rate hike, matching moves by other former Soviet republics
RBI steps in with liquidity amid worsening Covid outbreak
Central bank “stands in battle readiness”, governor says, as virus death toll climbs
Dallas Fed chief wants to talk about tapers
Comments may indicate split at Fed, though FOMC remains committed to asset purchases
Colombia’s central bank revises up growth forecast
Board maintains rates at 1.75%, as IMF says delays in vaccination could hamper recovery
Fed plays down US economic rebound
Powell says economy still “a long way from our goals” as FOMC holds policy steady
Tajikistan central bank announces rate hike
Currency devaluation in 2020 has added to inflationary pressure