Operating framework
Chinese policy-makers warm to PBoC bond trading
PBoC’s trading of government bonds will be different from QE, central bank official says
Former NY Fed chief calls for overhaul of discount window
Dudley’s proposed changes include prepositioning collateral, cutting costs of secondary credit facility
Argentina adopts new policy rate
BCRA will use overnight reverse repo rate after halting auctions of Leliq bonds
Cambodia’s Serey calls for greater use of local currency
Governor says demand for the riel has improved over the years
Corridor, floor, other: are operating frameworks fit for the future?
Central banks are becoming uncomfortably aware that monetary operations have ramifications well beyond setting short-term rates
BoE’s Hauser makes case against ultra-lean balance sheets
Even with central bank backstops, markets are not reliable liquidity managers, official says
SNB cuts interest payments amid losses
Swiss central bank lost over Sfr12 billion in Q3
RBA’s Bullock rules out setting an employment target
Governor says full employment cannot be reduced to a single measurement
Riksbank to offer counterparties new liquidity and deposit facilities
Measure aims to prevent volatility in overnight market rates as central bank reduces liquidity
Hungary continues loosening as inflation falls towards 10%
MNB cuts base rate by 75 basis points
Buy side reflects on BoE’s gilt liquidity lifeline
Lending facility could prevent repeat of last year’s LDI crisis if properly designed, pension and insurance experts say
Bangladesh Bank reforms MPC
Move is part of IMF-promoted reforms as Bangladesh adopts interest-rate targeting
UK researchers propose 3% inflation target and negative rates
Inflation stalls at 6.7% in September, the same figure as in August
Opponents of dual mandate win New Zealand elections
National Party promises to abolish RBNZ commitment to ‘maximum sustainable employment’
PEPP to become ECB’s weapon of choice
Facing high but falling inflation, the governing council is expected to hold rates
BoE publishes terms of reference for Bernanke review
Former Fed chair to provide insights into how to forecast in “significant uncertainty”
Momentum builds to end RBNZ dual mandate
Think-tank calls for abolishing deposit insurance and creating new prudential regulator
IMF paper offers ‘complete set of tools’ to model reserves demand
Authors say theirs is the first complete modelling framework for reserves demand
Jackson Hole in the wake of policy rules
Symposium heralds a shift to relying on incoming data and judgement, rather than rules or even formal models, to hit inflation targets, writes Barry Eichengreen
ECB: from a supply to a demand-driven floor?
Eurozone’s central bank expected formally to abandon corridor in forthcoming operational framework review
Kenya revives interest rate corridor
Controversial 2016 law capping rates undermined earlier attempt at corridor