Interest rates
Optimal US reserve regime is between scarcity and abundance – research
Former NY Fed official Simon Potter and co-authors map post-crisis demand curve for reserves
Bank Negara Malaysia surprises market with ‘pre-emptive’ rate cut
Analyst believes move signals end to “brief easing cycle”
Paper takes ‘Hank’ approach to eurozone policy transmission
Authors identify three key dimensions of household heterogeneity
Fed slims down repo market interventions
Relative to year-end, the Fed will cut $250 billion of the cash offered to banks
ECB willing to provide further stimulus – minutes
Governing council stresses inflation remains below its medium-term goal
South Africa surprises markets with rate cut
Sarb reduces interest rates by 25 basis points to 6.25%
Turkish central bank makes fourth rate cut in six months
Central bank has reduced rates by 850 basis points since president dismissed last governor
BoE officials hint at willingness to cut rates
Carney, Saunders and Vlieghe all signal cut may be needed, as UK growth and inflation disappoint
People: Modi’s government appoints new RBI deputy governor
Michael Patra takes position left by Viral Acharya in June 2019; EBA names new executive director; UK Payment Systems Regulator appoints a new head of policy
Liquidity operations squeezed Fed’s net income last year
Repurchase agreements cost the Fed $6 billion in 2019, preliminary results show
ECB paper looks at role of uncertainty in central bank comms
Researchers use machine learning to study market reactions to BoE inflation reports
Trump’s criticism undermining confidence in Fed – Yellen
Political pressures could hurt central bank independence, says former Fed chair
Argentina reduces key rate floor again
New governor thinks ultra-tight financial conditions failed to tackle high inflation
Riksbank minutes show disagreements over December rate hike
Dissenting board members cite looser international policy, weak growth and below-target inflation
New York Fed launches longer-term liquidity fix
Markets desk tells overseas central banks that foreign repo pool rate will be revised
Ageing populations will keep interest rates low – BdF paper
Housing availability can attenuate decline in rates, authors find
Fed governors are losing influence, financial historian argues
Peter Conti-Brown examines the eroding influence of the democratically accountable members of the FOMC
Higher oil prices dampened impact of Fed spillovers in Gulf – IMF paper
Changes in Fed rates likely to have minimal impact on GCC growth with current oil prices, researchers say
Lagarde awards Schnabel key policy role in renewed ECB board
Panetta leads market infrastructure and payments, banknotes and international relations
Crises are non-linear, beware high debt levels – research
IMF paper warns against complacency on high debt levels
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”
Fed avoids year-end cash crunch
Repo market shows barely a ripple over New Year’s Eve after Fed injects a quarter of a trillion dollars
Markets surge as PBoC cuts RRR
Cut designed to support the flagging economy; PBoC insists it is retaining “sound” policy
Macroeconomics is not broken
The discipline has moved beyond the neoclassical synthesis. Critics should too