Interest rates
Indonesia cuts rates for the third time in three months
Bank Indonesia has cut a total of 75bp this year after tightening 175bp in 2018
Fed cuts rates and makes further ‘technical adjustment’
Fed doesn’t see funding pressure episode having implications for its ability to control rates
Brazil expected to cut rates to new record low
Below-target inflation gives central bank space to boost weak growth, analysts say
BoE paper: ‘tails’ matter when studying global financial cycle
Authors look to the tails of the distribution to understand exchange rate risk in the global cycle
Global growth will strengthen in 2020, says strategist
Central banks should be cautious about responding to manufacturing slowdown, Kevin Gardiner says; Fed likely to cut again in September 18 decision
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Zimbabwean rates hit 70% as inflation remains in triple digits
Central bank attributes rapid price rises to restructuring of the economy; rates will now be set by monetary policy committee
Central banks are ‘riders on the storm’, say Jordà and Taylor
Central banks control less than half the overall variation in interest rates, authors find
Overseeing China’s payments revolution
The PBoC has tried to strike a balance between facilitating bigtech innovation and reining in risks, amid an explosive growth in mobile payments
Peruvian central bank on hold as outlook improves
The central bank cut rates in July amid weaker growth and global volatility
Fed policy is reinforcing overvalued equities, Shiller warns
Robert Shiller talks to Central Banking about his latest research, “Narrative Economics”
Denmark cuts main rate, mirroring ECB’s move
Scandinavian central bank has pegged the krone to the euro since the single currency’s launch
Singapore looks to establish term RFR by 2020
Swaps linked to overnight rate will help create term structure, says industry committee member
Turkey launches second major rate cut
Central bank slashes further 325 basis points off main rate
‘Non-salient fees’ matter for mortgage pricing – BoE paper
Many borrowers appear to be less sensitive to fees than to interest rates, and firms exploit this
Poland keeps rates unchanged on lower global growth
Solid growth and strong demand push inflation slightly over target
Fed ‘boneheads’ wasting opportunity of a lifetime, Trump claims
Trump calls for negative rates and a longer balance sheet term structure
BIS paper tracks new channel for funding ‘dry-ups’
A squeeze in one market can spill over to institutions with no direct exposure, authors find
BoE paper models exchange rates with private money creation
Uncovered interest parity does a poor job of explaining exchange rates on its own, authors say
Riksbank maintains tightening plans despite lower rates globally
Sweden’s central bank adds it will increase rates at a slower pace than it planned earlier in 2019
BIS authors offer advice on escaping low inflation trap
Luiz Pereira da Silva and co-authors say “snapback” unlikely, given changing labour markets
Households respond more forcefully to rate cuts than QE – Dallas Fed
Fed should improve communications for QE and forward guidance, researchers say
RBI makes fresh bid to boost transmission mechanism
Banks mandated to link floating-rate loans to an external benchmark
Chile cuts rates again on lower inflation forecasts
Central bank reduces policy rate by 50 basis points to 2%; signals more stimulus may be needed