Operating framework
New RBNZ mandate is evolution not revolution, says McDermott
Inflation-targeting framework has been tweaked several times already – assistant governor
China's policy transmission increasingly similar to advanced economies – BIS paper
Authors say monetary policy surprises have “sizeable” effects on interest rates in China
Money market revamp would help transmit policy in Iran – IMF
Central bank currently struggles to conduct open-market operations; new policy framework would aid transmission and deepen markets, fund says
Mongolian central bank opposes interest rate cap
Mongolia has some of the world’s highest interest rates, but the central bank warns caps are not the right solution
Philippines governor announces recovery from cancer
Espenilla reveals cancer treatment, and says recent policy reforms will not fuel rising inflation
Philippines advances with policy implementation revamp
The Central Bank of the Philippines is looking to cut its reliance on reserve requirements and move towards an interest rate corridor
Canada effecting a cautious normalisation – deputy governor
Uncertainties related to trade, high debt levels and slower growth may delay new rate hikes
IMF urges Indonesian authorities to focus on policy transmission
Interest rate caps and limited banking competition have left market interest rates “slow to adapt” to changes in monetary policy
IMF welcomes reform progress in Egypt
A flexible exchange rate and tighter policy have helped stabilise the economy
BoE commits to improving liquidity facilities
Report says central bank could do more to ensure smooth operations
BoJ’s cut to bond purchases not an exit strategy, say analysts
Move was unexpected, but analysts do not see it as a sign the BoJ may be preparing to exit its stimulus programmme
Bernanke says Fed likely to review policy framework
Former Fed chair says analysis on change to inflation targeting is likely; panel of experts presents wide range of views on what any change should be
Richmond Fed paper explores Fed’s monetary policy history
The author identifies a lack of consensus on the nature of the monetary regime as a policy weakness
Progress on policy offset by shocks from bad weather – CBSL governor
Sri Lanka suffered from both droughts and floods in 2017 but new policy measures are helping stabilise the economy, says Indrajit Coomaraswamy
Fed hikes have created ‘paradoxical’ easing – BIS
Review draws parallels between current episode and “Greenspan conundrum” of mid-2000s
Bank Indonesia expands reserves averaging mechanism
Bank Indonesia to extend the scope of its reserve requirement averaging mechanism to include foreign currency and Islamic banks
BoE officials deny policy pass-through is their job
Michael Saunders says Bank of England lacks tools to force banks to change rates
Sri Lanka on track to flexible targeting – deputy governor
The central bank has much of the infrastructure in place, but the pace needs to increase if 2020 deadline is to be met, says Weerasinghe
RBI’s Acharya: ‘fundamental reform’ to fix transmission
Despite several earlier attempts at reform, the central bank is still struggling to pass on its policy actions to the economy
Poloz: standard inflation theories still work
Old relationships “are as applicable today as they ever were”, says Bank of Canada governor
Tinkering with rates will not bolster New Zealand employment
The New Zealand government would do well to remember why a single price stability mandate was established in the first place
Sri Lanka working to introduce ‘proactive’ policy – governor
Central bank in the past tended to do “too little, too late”, leading to big swings in interest rates, says Coomaraswamy
RBNZ faces mandate review under new government
Coalition agreement retains Labour pledge to consider shake-up of Reserve Bank mandate
Goldfajn stresses current target remains ‘credible’
Central bank pushed back against calls for the target to be raised during 2016 debate