Interest rates
Prudential rules ease procyclicality of bank lending: IMF paper
Fund study says rules to lower capital adequacy ratios offer relief to banks and distressed borrowers facing shocks
Interest rate less volatile with more transparency: NY Fed paper
New York Federal Reserve study says greater central bank transparency reduces interest rate volatility
Vote to inject further QE defeated: BoJ minutes
Bank of Japan minutes show measure to raise asset purchases by ¥5 trillion was voted down by majority
ECB’s Bini Smaghi warns of maturity mismatch from low interest rate environment
European Central Bank executive board member Lorenzo Bini Smaghi says low short-term interest rates risk are leading to over-leveraging in shadow banking
Bankruptcy does not exclude consumers from credit markets: Fed paper
Federal Reserve study finds evidence that bankruptcy filers are not excluded from unsecured credit markets but usually pay a higher premium for finance
Fed minutes reveal split over exit strategy
Minutes from Federal Open Market Committee meeting show division among ranks over monetary policy exit strategy
Interest rates can only dampen systemic risk: Norway’s Olsen
Norges Bank governor Øystein Olsen says interest rate rise could have dampening effect on build-up of systemic risks but price stability remains primary objective
Namibia introduces interbank lending rates
Bank of Nambia launches the country’s first-ever official short-term interbank lending rates; gives full endorsement and encourages further developments
Israel acts to avoid housing crisis
Israel introduces rules limiting amount of mortgage that can be linked to variable rate
Iceland minutes shows dissent from MPC member
Central Bank of Iceland Monetary Policy Committee minutes says one dissenter voted to raise rates by 25 basis points amid growing inflationary pressures
Trichet signals no change in June as ECB holds
Rates likely to remain on hold until third quarter
Bank of England keep rates at record low
Bank holds for fourteenth month in a row
Bank of Thailand Inflation Report – (April 2011)
Bank of Thailand’s April 2011 Inflation Report says Monetary Policy Committee raised rates to curb build up in commodity price pressures
Turkey’s Yilmaz explains motivation behind policy strategy
Central Bank of Turkey governor Durmuş Yilmaz says combination of liquidity management facilities, reserve requirements and policy rates will help achieve price and financial stability in Turkey
Bank minutes outlines downside risks to economy
Minutes of Bank of England monetary policy meeting highlights evidence of continued weakness in UK economy
RBA paper reviews unconventional monetary policy measures
Reserve Bank of Australia study says use of long-term interest rates and communication about future short-term interest rate path has merit
Bank of Israel narrow forum backs rate hike
Bank of Israel minutes show narrow forum supported decision to raise interest rates by 50 basis points in April
Bank of Finland on modelling rational expectations
Bank of Finland study discusses modelling rational expectations in monetary policy framework
QE solution at zero bound: NY Fed paper
New York Federal Reserve paper co-authored by Brian Sack shows quantitative easing successfully eased monetary policy at the zero bound
Riksbank’s Ekholm explains dissent against rate hike
Riksbank deputy governor Karolina Ekholm says interest rate rise could dampen growth prospects via stronger krona
Israel’s Fischer outlines ten lessons to remember in a crisis
Bank of Israel governor Stanley Fischer delivers advice to policymakers on how to approach a crisis
RBNZ paper on global bond yields
Reserve Bank of New Zealand study finds close correlation between domestic and global bond yields
BoJ paper on Fed’s communication strategy
Bank of Japan study says change in Federal Reserve’s communication strategy in 1990s helped it better manage expectations
Geopolitical factors won’t stop ECB rate hike, say analysts
Analysts expect the European Central Bank to raise interest rates at the upcoming monetary policy meeting, despite fears events in Japan and the Middle East may offset the global recovery