Quantitative easing
US interbank market may not recover from QE – Fed paper
Authors warn shrinking the Fed balance sheet might not be enough to revive the market
Causes of liquidity traps are ‘crucial’ to policy response – BdF paper
Liquidity traps caused by investor deleveraging may not respond to QE, researchers say
Yield curve inversions may become more frequent, researchers say
Richmond Fed study examines relationship between term premium and yield curve inversion
Draghi warns of downside risks as ECB ends net asset purchases
ECB will continue buying sovereign bonds with yields below deposit rate
ECB secondary bond purchases are legal, European Court of Justice says
European Union’s highest court rejects German activists’ claim that PSPP breached constitution
Fed weighs future policy transmission framework
Implementing technical adjustments might be necessary, Powell says
Non-bank lending could replace interbank market – Atlanta Fed paper
Basel III capital requirements and Fed’s QE are reducing US interbank lending, researchers say
QE has persistent impact on foreign exchange, researchers find
European Central Bank QE caused euro to fall 12% against dollar - Dallas Fed paper
ECB paper examines banks’ responses to unconventional policy
Weaker banks’ sheets reduce credit supply in response to conventional policy shocks, paper finds
ECB unveils richer eurozone forecasting model
“NAWM II” models financial sector’s role in originating and propagating economic shocks
Weidmann calls for dropping QE tools in normal conditions
Long-term ultra-loose policy may have shifted natural rate of unemployment – Bundesbank head
BoJ’s monetary easing criticised as balance sheet passes 100% of GDP
Central bank’s QQE has had limited impact but a wind-down poses significant risks, Sayuri Shirai warns
Japan does not need more large-scale stimulus to avoid deflation – Kuroda
Below-target inflation still requires ultra-low interest rates and asset purchases
Bank of Japan on hold as inflation slips
The central bank keeps negative rates despite warning about the policy’s risks
Draghi confident Italy and European Commission will reach deal
ECB president says momentum is slowing but points to higher negotiated wage growth
ECB’s normalisation could spell trouble for Italy’s bond market
Rome’s budget row with Brussels escalates just as QE is about to halt
Fed’s QE programme changed US corporate financing – BdF paper
Conventional monetary policy and QE have very different transmission mechanisms – researchers
Volatility in equities may soon influence Fed policy, says Moody’s economist
US equity sell-off may be due to Fed policy, says John Lonski
Italy’s expansionary budget increases pressure on debt
Draghi warns government plans have tightened financial conditions for households and businesses
Future balance sheet size hard to judge – BoE’s Ramsden
Reserves demand likely to become more important as QE winds down, but how large the balance sheet will be is an “open and difficult question”, deputy says
EBA warns on funding stresses from QE exit
‘Mediterranean’ banks’ reliance on repo funding could be tested by withdrawal of stimulus
BoE’s Vlieghe: QE unwind need not impact yield curve
Yield curve has flattened since BoE’s independence and is likely to stay that way- MPC member
BoJ sticks to upbeat message despite dissent
Policy remains on hold as inflation continues to disappoint; Kataoka questions positive message
Hungary prepares to normalise its array of policy instruments
Central bank reshuffles its wide range of unconventional instruments and launches lending facility