Yield curve
Is the ECB’s strategy review enough?
The reformed framework may allow greater stimulus to tackle weak inflation expectations, but the Governing Council is already divided on what to do next
Negative yields decline in Dutch bond markets
Sovereign bonds account for majority of securities yielding negative returns
Surveillance and suptech innovation in central banks
Tony Sio, Nasdaq’s head of marketplace regulatory technology, explains the role market surveillance tools play in central banks’ suptech portfolios.
RBA adjusts yield curve control as economy recovers
Australia “no longer looking over a cliff”, says governor Philip Lowe
The RBI’s next big question: how to normalise monetary policy?
India’s central bank needs to plan an exit from its efforts to manage the ‘impossible trinity’
Inflation, Fed policy and emerging markets: the good, the bad and the ugly
Steve Kamin explores the global implications of rising inflation and interest rates in the US
Charles Goodhart on inflation targets, financial stability and the role of money
The LSE professor says inflation targets should have been 0%, the Fed’s move to AIT is a mistake, independence is under threat from inflation, big balance sheets support liquidity, AI can help supervisors and climate stress tests are unconvincing
IMF sees scope for unconventional monetary policy in Thailand
Yield curve control with forward guidance might be the best option for BoT, fund says
RBI doubles size of quantitative easing programme
Central bank readies additional 1.2 trillion rupee purchase programme as virus “dents” demand
ECB rate-setters ‘broadly agree’ with loose policy
Governing council members warned financing conditions were still tighter than in December 2020
RBI set to launch second round of asset purchases
Indian central bank seeks to curb borrowing costs amid severe Covid-19 outbreak
Israeli reserves reach new record high
Foreign currency purchases to offset shekel’s strength boost portfolio to $194 billion
Central banks remained net gold buyers in Q1
Rate of gold buying down on first quarter of 2020, as Hungary leads purchases
Fed must clarify future of QE, IMF says
IMF warns that rising longer-term Treasury yields could have major impact
ECB watchers say divisions on council could hamper decision-making
Analysts say central bank’s strategy of lower purchases could be tested later in 2021
Is the ECB implementing yield curve control?
The eurozone has adopted a hybrid system – lying somewhere between the Fed’s QE and the BoJ’s yield curve control – that targets wider financing conditions
BoJ adjusts easing measures amid market distortion fears
Central bank announces lending incentives and more flexibility in yield curve control and ETF buys
Asset manager: BNP Paribas Asset Management
The European asset manager has leveraged its focus on official institutions, expertise in MBS, training, reporting and ESG compliance to grow its business with central banks
Expectations play key role in policy transmission – BoE paper
Authors use high-frequency data to assess importance of term premia and expectations
Lagarde expected to clarify ECB bond-buying plans
ECB has lowered purchases as yields have risen and spreads have increased
Yield curve control not ECB’s ‘easiest way forward’ – Centeno
ECB board member Fabio Panetta calls for decisive action to reduce higher bond yields
RBA boosts bond-buying to defend yield curve target
Governor says the central bank can increase purchases further if needed
The Bank of Japan must adjust its monetary policy
Sayuri Shirai says the central bank needs to make its policy more sustainable. The BoJ is running out of ways to generate further monetary stimulus
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target and has no need for yield curve control. Centeno believes NextGenerationEU fund could serve as template for a future…