Negative rates
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”; Germany's Weidmann also critical
ECB cuts rates to new record low and re-starts QE
Deposit rate decreased to –0.5% and open-ended asset purchases launched at €20 billion a month
ECB expected to cut rates and restart QE to boost inflation
But Draghi’s ambitious stimulus package faces growing opposition from governors in surplus countries
Fed ‘boneheads’ wasting opportunity of a lifetime, Trump claims
Trump calls for negative rates and a longer balance sheet term structure
Eurozone inflation to remain at 1% in August – official data
Below-target inflation may support loosening announcement by ECB on September 12
Israeli central bank faces hard choices, analysts say
MPC says Israeli currency’s strength is helping to keep inflation below target
Negative rates could lower inflation expectations – San Fran Fed paper
Japanese inflation expectations fell after BoJ introduced negative rates, researchers find
RBA open to unconventional policy measures – deputy governor Debelle
Quantitative easing may be on the cards if central bank cuts rates to 0.5%
Central banks face loss of independence – Central Banking survey
A new survey of Central Banking’s Editorial Advisory Board points to central banks facing existential challenges with little change in their frameworks or toolkits
Germany issues first ever zero coupon 30-year bond
Move raises questions over how ECB will respond to tough conditions, analysts say
The roots of the new gold fever
The end of the Central Bank Gold Agreement could herald the return of gold as a key reserve asset
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail and use of CCyBs, highlights challenges of an asymmetric monetary system, hits out at cumbersome payments and warns Facebook’s libra cannot ‘learn as…
Fed paper looks at negative rates’ impact on eurozone banks
Effects of policy rate cuts on equity change past the zero lower bound, researchers say
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
The IMF’s financial counsellor speaks about risks from big tech’s move into fintech, the fund’s efforts to craft well-targeted policy guidance and why the current international monetary ‘non-system’ works
Riksbank’s rate-setters disagree on future rate moves – minutes
Some executive board members stress trade tensions, while others point to local economic strength
IMF backs ECB’s looser stance
Directors concerned about banks’ low profitability, and call for common deposit insurance scheme
Purists lament as most cheer Lagarde as next ECB chief
Lagarde expected to adopt similar philosophy to Draghi at ECB, making the central bank the ‘only game in town’ – at least for a while
BoJ moves quietly away from negative rate
Bank of Japan reduces number of current account balances charged a negative interest rate in bid to ease pressure on bank profits
Weakened international co-operation could hinder crisis response – Bernanke
Christina Romer ‘loses sleep at night’ about internationals' readiness to fight a future crisis
Weidmann warns trade war likely to hurt US more than Germany
Bundesbank president says policy normalisation should continue
IMF researchers present guide to enabling negative interest rates
Exchange rate between cash and bank reserves is the “best approach”, researchers say
ECB’s negative rates increased eurozone credit supply – IMF paper
Cuts above zero lower bound did not have same effects on banks, researchers find