Monetary Policy
Major central banks ready to respond to coronavirus
Fed, ECB and Bank of Japan say they are willing to act; central bank events disrupted
Ghana’s Addison on banking reform, innovation and the future of the eco
The Bank of Ghana governor speaks about the next steps in banking reform and why West Africa may need more time to start using a common currency
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy, writes Sayuri Shirai
Did the Riksbank abandon negative rates too soon?
In January, a key inflation measure dropped sharply. Policy-makers face difficult choices if inflation does not recover
Do low rates spur investment?
Many believe low interest rates spur investment, but there appears to be little hard evidence to support such claims, writes former IMF head Jacques de Larosière
PBoC ready to ease further as Xi calls for more stimulus
PBoC deputy governor vows to safeguard economy from virus shock as president says monetary easing should be “more flexible”
Kyrgyz Republic hikes rates for first time since 2015
Inflation still well below target but climbing fast due to external pressures
Why Bulgaria needs to deepen its currency board
The BNB’s currency board rules should be extended to transaction deposits at commercial banks, which could in turn issue digital currencies, even in the event of euro adoption
ECB unveils plan for its strategy review
Eurosystem will host “listening” events with general public, academia and civil society organisations
Fed’s Brainard backs ‘flexible inflation averaging’
Governor hints at possible outcome of Fed’s policy framework review
PBoC cuts rates in bid to buffer impact of virus
Indonesian central bank also lowers rates in bid to limit effects of coronavirus
Weak eurozone banks hindered monetary policy – Bundesbank paper
“High-risk” banks failed to increase loan spreads despite ECB liquidity injection, researchers say
FOMC discusses communication ‘escape clauses’
Fed might need “leeway” to deal with financial instability, some FOMC members say
Economist joins Bank of Japan’s rate-setters
BoJ board member in favour of continued QE but has expressed doubts on negative rates
Turkish central bank keeps cutting rates despite higher inflation
Cut brings Turkish real rates into negative territory as currency renews slide against dollar
NY Fed speeds up repo withdrawal
US banks’ demand for cash remains high as NY Fed’s first term repo is oversubscribed
ECB’s TLTRO2 eased Italian credit conditions – BoI paper
QE measure lowered loan interest rates while increasing credit quantities, researchers find
Should the ECB add owner-occupied housing costs to its inflation measure?
Yves Mersch argues broader measure of housing costs would give more realistic inflation picture
Bank of Mexico eases again to combat ‘stagnant’ economy
Central bank makes first rate cut since moving to new communications regime
Advanced economies’ inflation more synchronised – Bank of Spain paper
Headline inflation rates are more highly correlated than core inflation, authors find
Bank of Mexico revamps policy communication
Board members allowed to express individual opinions and voting included in policy statements
BIS’s Pereira says green QE could distort market
Central banks should focus on financial stability mandate not green QE, says deputy general manager
Schnabel takes on Germany’s ‘false narratives’ on ECB policy
Criticism based on “half-truths” imperils trust in single monetary policy and “undermines European cohesion”
Bulgaria: long live the currency board
Bulgaria should reject the euro and extend its currency board to cover bank deposits