Growth
Rates have been falling for eight centuries – BoE research
Study casts doubt on major theories, including secular stagnation; author warns rates could “soon enter permanently negative territory”
Monetary easing can boost birth rate, BoE paper finds
People had more children after rates were slashed post-crisis, researchers find
Markets surge as PBoC cuts RRR
Cut designed to support the flagging economy; PBoC insists it is retaining “sound” policy
Schnabel and Panetta appointed ECB executive board members
The final distribution of responsibilities in January will determine the new members’ portfolios
Argentina lowers key rate floor
New governor aims to abandon ultra-tight financial conditions
Bank of Mexico cuts again as growth remains sluggish
Board says economic weakness is likely to persist
Riksbank abandons negative rates
Swedish central bank increases repo rate by 25 basis points, but two board members dissent
Australian dollar falls as RBA keeps rate cut on agenda
Central bank willing to provide more stimulus after economic reassessment due in February 2020
Turkish central bank slashes rates for fourth time straight
Move was larger than many had expected, and comes as inflation re-enters double digits
Brazil lowers rates to record-low 4.5%
Weak growth requires interest rates “below the structural level”, says the central bank
FOMC calls halt to cutting cycle
Unanimous decision keeps rates on hold; Powell signals no move likely for some time
Brazil likely to end easing cycle with 50bp rate cut
Record-low rates will suffice to boost growth in 2020; inflation up on weaker real
BIS paper examines economic impact of macro-pru
Shocks are similar to monetary policy but transmission differs, researchers say
Paul Volcker, 1927–2019
The Fed chair made his name battling inflation, and left his mark on independence and post-crisis financial regulations
Paper looks at pro-cyclical consumption in Spain
Households reacted strongly to fears of job losses during economic crisis, Bank of Spain says
Argentinian president appoints new governor
Miguel Angel Pesce rejects high interest rates as means of reducing inflation and backs price controls
Eurozone banks sharply increase voluntary TLTRO II repayments
Firms appear to be preparing for second series of TLTRO III later in December, analysts say
RBI on hold despite weak growth and inflation
Committee votes unanimously to wait for more data despite seeing “space for future action”
Chilean MPC abandons easing plans amid political unrest
Currency fell sharply in November following prolonged street protests
Global climate cycles create varied growth challenges – paper
Changing climate has different impact on growth depending on country’s normal climate, researchers find
PBoC governor vows to stay away from QE and negative rates
Beijing should maintain “normal” monetary policy, as ultra-low rates in developed markets proved ineffective, says governor
Canada’s fiscal stimulus worth 100bp of rate cuts – Poloz
Infrastructure investment has also helped to reduce financial vulnerabilities
Powell calls on lawmakers to help sustain record-long expansion
The right policies can help build on economic gains, Powell said
Kenya cuts rates on anchored inflation and tight fiscal outlook
Central bank reduces bank rate by 50 basis points to 8.5%