Quantitative easing
Riksbank goes negative and launches QE
Swedish central bank announces unprecedented measures to ‘safeguard' inflation expectations; rates ‘far from lower bound' says Ingves
Japan at a turning point but liquidity risks loom, say panellists
Panel at Japan Securities Summit including BoJ’s Takehiro Sato believes Japan’s ‘certain, coordinated and creative’ policy mix will deliver the first turnaround in 20 years
BoJ nominee Harada: monetary stimulus, fiscal discipline
A review of Yutaka Harada’s published papers and articles reveals the Bank of Japan Policy Board nominee is likely to favour more stimulus from the central bank and less from the government
Boston Fed’s Rosengren flags key elements of successful QE
Eric Rosengren sets out the most successful design features from the Fed’s experience of quantitative easing and hints ‘other parts of the globe’ may have acted too late
Meltzer accuses Fed of three ‘major’ errors
Writing in the Central Banking Journal, Allan Meltzer argues the Fed continued QE for too long, while relying too heavily on ‘noisy’ data and too little on monetary and credit aggregates
BoJ’s Iwata says QQE is a break with history
Deputy governor says latest asset purchases programme a sign of dramatic ‘regime change’ and consumers will have to respond – it is just a question of when
Constâncio: ECB ‘encouraged’ by reaction to QE
ECB vice-president points to rise in price of equities and bonds and drop in the exchange rate, but warns against reading too much into financial and real variables
Denmark suspends bond sales to stem FX inflows
The move, intended to lower longer-term yields and thereby discourage upwards pressure on the krone, ‘effectively works as QE' says analyst
Linde says ECB’s stimulus package is ‘ambitious’
Luis Linde, governor of the Bank of Spain, estimates the European Central Bank will buy €100 billion of Spanish government debt under its new asset purchase programme
Eichengreen says central banks should worry more about deflation than 'profits and losses'
The Berkeley professor on what last week's SNB move says about big central banks 'wrong-footing' markets and the Fed's problematic response to financial crisis
Carney says eurozone QE 'absolutely necessary'
Bank of England governor says it will ‘create some of the necessary conditions’ for returning prosperity to the eurozone; discusses distributional consequences of monetary policy
ECB launches quantitative easing
Mario Draghi unveils additional asset purchase programme that will see the ECB buy sovereign and agency debt; a ‘large majority’ of governing council backed decision
Danish central bank cuts rates for second time this week
National Bank of Denmark lowers deposit rate for second time in four days following ECB action; central bank will defend euro peg ‘vehemently', says analyst
Great expectations: ECB set for QE showdown
Markets expect the ECB to announce a programme for buying €500 billion of sovereign bonds tomorrow, but the central bank retains the capacity to surprise
Summers takes Germany to task over attitude towards debt
Speaking in London, former US treasury secretary says there is need to move beyond 'Calvinist idea' that debt is bad; questions impact of QE, macro-prudential policies
King says further easing unlikely to work
Former Bank of England governor warns monetary policy is reaching the limit of its ability to stimulate, with the global economy trapped in ‘quite serious disequilibria’
Legal opinion opens door for ECB bond-buying programme
Adviser to ECJ deems OMTs ‘compatible’ with European law in a move described as an ‘overwhelming success’ for ECB; could nonetheless restrict central bank's role in Troika
Carney: ECB has ‘tools and clarity of mandate' to hit inflation target
BoE governor says there is ‘every reason' to expect the ECB to take the ‘measures necessary' to tackle low inflation as he weighs in on several international issues in parliamentary hearing
Fed earns $116bn on QE assets in 2014
Regional Fed banks transfer just under $100bn in earnings to US Treasury, a 27% increase on the previous year; operating expenses totalled $3.6bn
Eurozone inflation goes negative with QE looming
Annual HICP inflation falls to -0.2% in December due largely to plummeting oil prices; expectations rising for ECB to expand asset purchases on January 22
Weak TLTRO demand increases pressure on ECB
Banks borrow €129.8 through ECB's second operation; pressure increases on governing council to launch new measures in January or March 2015
Fisher: Fed should let security holdings 'roll off' at maturity
Dallas Fed president plans to urge FOMC colleagues to ‘think more outside the box' during final four months in office
BoJ’s Sato explains QE dissent
Board member who voted against expansion of QE in October says he already sees a ‘virtuous circle’, meaning more asset purchases bring high risks will little reward
Lautenschläger against QE for now
Executive board member says the costs outweigh the benefits ‘at this current time’ and raises a host of questions to consider before the ECB can start buying government bonds