Quantitative easing
QE may be partly to blame for global market correlations – SNB’s Maechler
Andréa Maechler says quantitative easing may cause some bond and equity prices to move simultaneously, but there are likely other factors at play as well
BoJ economists seek best escape route from liquidity traps
Some policies are more effective than others, but a combination can generate stronger effects, researchers find
Praet calls for further consolidation of eurozone banking
The ECB's chief economist says falling bank profits are not a concern for monetary policy and sector must improve business models while the central bank gives “regulatory clarity”
Riksbank’s Flodén warns QE dividends may not continue
Quantitative easing has generated profits so far, but the central bank is likely to incur losses in future, deputy governor warns; purchases amount to maturity transformation and therefore carry risk
Cœuré sets out sovereign debt reform ideas as Weidmann strengthens call to end QE
Two senior eurozone central bankers set out different visions for radical change to the handling of European sovereign debt
Carney: I will stay ‘as long as I can’
Carney says the decision to stay or go will be “entirely personal”; Bank of England governor says central bank will not “slavishly rely” on QE
Draghi postpones decision on extension of QE
ECB president is aiming to build governing council support for further asset purchases, one analyst argues
No change to monetary policy, UK finance minister says
Hammond clarifies comments made by PM, emphasising the government will not be altering BoE mandate; finance minister says it is the government that needs to offset monetary policy impacts
QE is not hurting pension funds, says Broadbent
‘Material constraints’ not seen yet, says BoE deputy governor, who believes problems are being driven by more fundamental causes
What else can central banks do?
Geneva Report’s plea for central banks to use more negative rates, additional QE and helicopter drops appears misguided
BoE corporate bond purchases off to rapid start
Barely more than two weeks into the 18-month programme, the BoE has already filled more than 10% of its quota; gilt purchases continuing at steady rate
Yield curve control risks are manageable – Kuroda
BoJ governor says he shares concerns raised by Ben Bernanke, but believes the central bank will be able to cope with them
UK PM says she will deliver ‘change’ to monetary policy
Theresa May criticises monetary policy for punishing savers and those without assets, promising to deliver change
Better swap lines could support global co-operation – BIS’s da Silva
Improving the global network of swaps, particularly between advanced and emerging economies, could create a more stable system, deputy general manager says
BoJ targets inflation overshoot with revamped policy approach
Shift to “yield curve control” could give the central bank more room for manoeuvre on asset purchases, as it promises to keep easing until inflation exceeds the target
Target2 balance surge not a sign of eurozone ‘stress’ – ECB’s Praet
European Central Bank’s chief economist says €400 billion increase in outstanding euro real-time gross settlement claims is largely due to ECB’s asset purchases, rather than eurozone weakness
ECB’s QE policies have significant spillovers into CESEE economies, paper argues
Researchers examine effects on investment of quantitative easing by the European Central Bank
ECB paper finds ‘sizeable’ impact from QE
Authors find empirical evidence of various channels through which asset purchases affect the eurozone economy, before testing them in a general equilibrium model
IMF’s Singh urges central banks to beware of collateral impact of policy
Senior economist says asset purchase programmes have drained quality collateral from the system, damaging the economy’s “financial plumbing”
ECB delays decision on policy redesign
Mario Draghi says committees will investigate “smooth implementation” of asset purchases, but offers no new policies today; highlights signs of greater willingness for government action
Jackson Hole: economists flag costs and benefits of bloated balance sheets
Economists including Christopher Sims, Ricardo Reis and Jeremy Stein unpack the economics of central bank balance sheets, identifying both dangers and potential benefits
Yellen: future policy-makers may need new tools to tackle recessions
Fed chair says equilibrium rates may not be high enough for rate cuts to deal with all eventualities, so US policy-makers may need to think more laterally about their options
Mervyn King on Brexit, crisis supervision, economic rebalancing and reforming the IMF
The former Bank of England governor discusses Brexit, radical regulatory reform, the difficulties rebalancing the European and global economies and an overhaul of the International Monetary Fund
Unconventional monetary policy does not rob the poor, Italian researchers argue
Studying the effects of the ECB’s quantitative easing programme on the wealth and incomes of 8,000 Italian households shows that the policies benefit the poorest, Bank of Italy paper argues