Monetary Policy
Published rate path has similar effect to other communication – BIS study
Communication is important, but the “exact form” less so, according to research
IMF paper proposes cash-based solution to zero lower bound
“Decoupling” cash from electronic money could be an alternative to QE or a higher inflation target, the authors say
Powell warns not all US problems can be solved by Fed
Fed chair implicitly defends monetary policy in face of Trump’s attacks
Fiji’s central bank holds rates amid trade uncertainty
Tax and energy rises are boosting inflationary pressures, central bank board says
Senior Fed officials split over the state of US job market
Regional presidents and FOMC members see US under, approaching or beyond full employment
Monetary policies spill over to currencies, BIS paper says
Paper examines impact of multiple monetary policies on cross-border bank lending
Financial stability mandate could ‘undermine’ monetary policy – Weidmann
Bundesbank governor says putting financial stability on par with price stability would be a mistake
ECB policy changes foreign-denominated lending – Bank of Spain paper
Tighter ECB policy usually leads to increased lending abroad, researcher finds
Trump says Federal Reserve should give him ‘some help’
US President says central bank should hold policy rates while he negotiates trade deals
Australian central bank holds rates, but governor warns of future rises
Board members confident about effects of tighter Fed policy and possible trade disputes
Chile’s central bank says recovery is strengthening
GDP grows 5.3% year-on-year as central bank holds policy rates for 15 months
Bank of Mexico board unsure about new government’s fiscal policies
Board members said uncertain policies of incoming government may alter domestic demand
Fed may have to speed up rate rises, Australian governor warns
Philip Lowe says fiscal stimulus could lead to US inflation growing faster than expected
Brian Wynter on Jamaica’s inflation-targeting transition
Jamaican governor says the end of fiscal dominance plus the creation of a two-way forex market and an effective interest rate policy mechanism essential for “full-fledged” inflation target
BdF paper looks at ‘hawks, doves and swingers’
Education and economic conditions at birth shape the views of FOMC members, argues the paper
Norges Bank holds rates as inflation stays below target
Norwegian governor said in March he expected next rate hike to come “after summer”
Foreign monetary policy affects French and Italian lending – researchers
US policy especially significant, Banque de France paper finds
Policies must change to stop emerging markets crisis, analysts say
Tariffs, Fed policy and renminbi devaluation are stressing weaker currencies, say observers
Indonesian central bank hikes rates as global volatility hits rupiah
Forex interventions cut reserves by 11% between January and July 2018
Turkish central bank raises overnight rates in bid to stop lira’s fall
Move comes despite president Erdoğan’s hostility to rate hikes; banking authority also acts
Negative policy rates increases risk-taking by high-deposit banks - ECB paper
Eurozone banks with high deposit levels have changed lending patterns since 2014, say researchers
James Bullard on 2% rates, tariffs and Fed leadership
The president of the Federal Reserve Bank of St Louis speaks about the impact of US trade policies, the disruption to the banking industry from Silicon Valley, shrinking the Fed balance sheet and the potential for agent-based modelling
Uganda keeps rates on hold despite rising core inflation
Policy necessary to ensure “sustainable growth”, governor says