Interest rates
BoE officials deny policy pass-through is their job
Michael Saunders says Bank of England lacks tools to force banks to change rates
Unconventional policy driving crypto bubble, BNPP economist argues
Cryptocurrencies have the potential to deliver “large, positive returns” in an environment stifled by negative real rates
Fed’s Williams proposes new tools to deal with future crisis
Structural factors beyond central banks’ control keep natural rate of interest lower
RBI’s Acharya: ‘fundamental reform’ to fix transmission
Despite several earlier attempts at reform, the central bank is still struggling to pass on its policy actions to the economy
Low productivity might not be weighing on real rates – research
Long-run correlations imply there is little reason to believe low productivity is associated with low rates, Cleveland Fed economist finds
Uncertainty can call for asymmetric action – Canada’s Wilkins
“Uncertainty is not a reason for paralysis,” says the Bank of Canada deputy
US economy requires neutral policy – Atlanta Fed president
Although the labour market is approaching full employment, inflation remains subdued
BoE’s Cunliffe defends dissenting vote
Deputy governor says uncertainty over Phillips curve implies policymakers should act cautiously
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
BoE to run Chaps payment system
UK central bank moves to “direct delivery model” to operate entire high-value payment system as it looks to implement RTGS overhaul
Fed’s Harker ‘pencils in’ rate hike for December
Philadelphia Fed governor expects rates to rise 25bps before 2018, adding balance sheet normalisation is likely to “take some time”
Norwegian policy normalisation is feasible – analysts
Uncommon combination of higher oil prices and weak currency offsets subdued consumer prices
Riksbank’s executive board divided over QE programme
Some members advocate ending stimulus in December, others fear that could reduce inflation
Trump nominates Jerome Powell as Fed chair
As a Fed governor, Powell has never issued votes of dissent against FOMC decisions
MAS bans individuals involved in 1MDB scandal
Six people involved in 1MDB-related breaches have been issued prohibition orders by MAS, with two more facing potential future bans
FOMC shrugs off hurricane damage
Rates on hold as committee judges economy to have weathered damage from two hurricanes
Paper examines EM response to global liquidity shocks
Emerging markets reduce rates and increase reserves in the face of positive liquidity shocks
Ukrainian governor raises rates and warns government over IMF funding
Rate rise prompted by increased risk of government not co-operating with IMF, Smolii says
Venezuela replaces governor after less than two months in office
Constituent assembly appoints MP as economy battles hyperinflation and economic collapse
Riksbank on hold despite above-target inflation
Central bank is cautious about moving too fast amid sluggish hikes elsewhere
ECB to reduce monthly asset purchases to €30 billion
Central bank extends QE by nine months until September 2018, and keeps rates unchanged
Brazil’s central bank slows pace of monetary easing
Central bank scales back cuts to 75bp with suggestion it will slow pace further moving forward; inflation continues to fall as forecast
BoE paper studies interest rates across eight centuries
In July 2016, the global risk-free rate hit its lowest level since at least 1273, according to a new extra-long-term dataset
Argentina raises interest rates in pursuit of lower inflation
Despite declining core inflation, higher fuel prices could pose a threat to the central bank’s 2018 target; central bank raises rates to 23.75%