Interest rates
Bank of Mexico holds rates as board splits
Change to rate-setting board’s make-up may herald change in policy stance, say observers
Fed faces longer-term challenges under new policy strategy
Steve Kamin warns central bank may not have paid enough attention to why r* has fallen
IMF’s Adrian weighs balance between stimulus and stability
Central banks need to incorporate macro-financial stability in decision-making processes, he says
House price consideration could be added to mandate – RBNZ’s Orr
New Zealand’s governor argues house prices are not the remit of monetary policy
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
BoE’s Saunders mulls dual interest rates for UK
Funding banks at less than the policy rate could be a useful tool, MPC member says
Otmar Issing on the art of central bank communications
EMU architect speaks about Draghi’s “whatever it takes” intervention, forward guidance failures, the Fed’s average inflation target ‘miscommunication’, and why the ECB may be overreaching in its strategy review
Lane’s calls to investors stir controversy ahead of key ECB meeting
Chief economist’s private discussions with investors after policy meetings come under scrutiny
BoE prepares to launch sharia-compliant liquidity facility
Special-purpose vehicle will be structured as a ‘wakalah’ or fund-based liquidity facility
Early estimate says eurozone inflation staying put
Eurostat estimates for November show core inflation also remained stable at 0.2%
RBA board not expecting to raise rates for three years – Lowe
Australian central bank leaves rates unchanged as governor forecasts unemployment will fall slowly
Monetary-fiscal policy co-operation and the ‘slippery slope’
Barry Eichengreen assesses the risks central banks face from their closer links to fiscal policy
Lessons from the Riksbank’s negative rates experiment
Sweden is the only nation to have implemented negative rates and then returned them to ‘normal’ territory. What can central bankers learn from the Swedish experience?
Rehn says ECB should adopt average inflation targeting
Finnish governor says current target has “asymmetric downward bias”
Sveriges Riksbank announces big QE boost
Swedish central bank increases size, scope and duration of asset purchases
Olli Rehn on AIT, market neutrality and EU fiscal policies
The Bank of Finland governor talks about the ECB’s strategy review, market failure on climate change, lessons from the sovereign debt crisis, and the Draghi legacy effect on Covid-19 responses
US banks cede to SOFR lending as credit hopes fade
Critics of risk-free rate say dynamic spread will be too late for transition
Excess liquidity can weaken policy transmission – BoE paper
“Novel dataset” sheds light on possible unintended consequences of crisis-fighting measures
Ghana recovering faster than expected, says governor Addison
Growth has bounced back to double figures and inflation is expected to hit target by mid-2021
Is there a path between the Covid abyss and chasm of financial risk?
Macro-prudential policies are being used to prevent economies from falling into the Covid abyss while also ensuring that a correction in ever-higher asset prices do not crush the economy. Are both objectives achievable?
Philippines central bank makes unexpected rate cut
Inflationary pressures are low and cut will boost confidence, central bank says
Kganyago says Sarb needs support from fiscal and macro policy
Governor says monetary policy cannot improve South Africa’s growth alone