Interest rates
NY Fed paper investigates decline in adjustable-rate mortgage
New York Federal Reserve says supply-side factors explain decline in market share of adjustable-rate mortgages in recent years
Research underestimates probability of reaching zero bound: San Francisco Fed
San Francisco Federal Reserve paper says probability of hitting the zero lower bound of interest rate is often underestimated in economic research
Canada’s Côté on households' role in recovery
Bank of Canada deputy governor Agathe Côté discusses balance of risks in household spending and impact on economic recovery
Shekel gains leave Bank of Israel cautious over rate hike
Bank of Israel minutes show members of the central bank’s narrow forum feared interest rate hikes would lead to further gains in the shekel
Government delay holds up launch of Bank of Israel’s new rate-setting body
Bank of Israel awaits government’s selection of three external members to new Monetary Committee seven months after passage of law for new interest rate-setting measures
RBA minutes: rates on hold as global downside risks rise
Minutes of Reserve Bank of Australia rate-setting meeting relay concern over deteriorating situation in Europe; more positive on US, China
Monetary policy and the Australian-Kiwi exchange rate: RBNZ paper
Reserve Bank of New Zealand research finds Australian dollar-New Zealand dollar exchange rate incompatible with uncovered interest rate parity after official cash rate adoption
Riksbank’s Nyberg challenges Svensson over monetary policy framework
Riksbank deputy governor Lars Nyberg says monetary policy must support macroprudential policy; comments contrast with Svensson’s calls for monetary policy to focus on price stability
Central Bank of Turkey – Inflation Report (Q4 2010)
Central Bank of Turkey’s fourth quarter Inflation Report says despite strong domestic demand, weak external demand forced the central bank to keep rates low
BoE paper: capital inflows primary cause of US housing bubble
Bank of England study shows large capital inflows had a greater effect than monetary policy in generating housing bubble in United States
Fed’s Yellen: QE2 could help emerging markets
Federal Reserve vice chair Janet Yellen makes case for currency appreciation in emerging markets; remarks come on the heels of emerging market criticism of QE2
IMF: inflation targeting reduces dollarisation
Fund study says inflation targeting framework strengthens monetary policy channel in countries with high levels of dollarisation
Taylor calls on Fed to focus on price stability, not employment
Economist John Taylor likens Federal Reserve’s quantitative easing programme to fiscal policy; says central bank should focus on single price stability mandate
State Bank of Pakistan blames government for rate hike
Pakistani central bank says 50 basis point interest rate hike made necessary by government’s excessive borrowing
Shirakawa draws parallels with QE in Japan, US
Bank of Japan governor Masaaki Shirakawa says same aims underlie Japan's monetary easing scheme and Federal Reserve's asset purchase programme
Shirakawa: currency appreciation not panacea for inflows
Bank of Japan governor Masaaki Shirakawa says textbook solution to capital inflows does not apply to emerging economies in low interest rate environment
Meirelles to step down at the end of the year
Central Bank of Brazil governor Henrique Meirelles will leave central bank at end of year as President-elect Dilma Rousseff seeks change at central bank
Plosser: focus on real, not nominal, rates
Philadelphia Federal Reserve president Charles Plosser suggests targeting interest rates to lean against strong asset-price growth
Bank’s MPC split three ways
Bank of England Monetary Policy Committee minutes show rate-setters remain divided over future outlook of economy
Weaker growth led Israel to hold rates
Bank of Israel report shows poor terms of trade led to weaker growth outlook ahead of rate setting meeting
RBI reopens second liquidity line to prevent credit squeeze
Reserve Bank of India introduces second liquidity adjustment facility after growth in government savings absorbs liquidity in money markets
RBA flags sharp rise in commodity prices
Reserve Bank of Australia Monetary Policy statement says high commodity prices could lead to further rate hikes
IMF: post-Volcker monetary policy effective
Fund study find monetary policy has had just as much impact on output in the United States post-Volcker
RBI looks at crisis impact on central banks’ balance sheets
Reserve Bank of India study shows financial crisis led to dramatic change in composition of central bank balance sheets