Monetary Policy
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
Fed economists tackle question of optimal balance sheet size
Cutting balance sheet would significantly reduce interest rate risk, economists find, as Fed acknowledges lower profits due to interest payments
Riksbank closer to tightening policy, governor Ingves says
Minutes show disagreements over future policy among policymakers
Argentina cuts rates, but keeps focus on inflation
Analysts express concerns over the decision, as inflation remains high
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
First Romanian policy hike in a decade
Central bank hikes policy rate for the first time since 2008, as inflation exceeds forecasts
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
New US tax plan promising for growth – Fed minutes
FOMC members revise the growth outlook upwards for next 12 months, as tax cuts promise to provide “some boost” to consumer spending
ECB corporate bond purchases fall to lowest level in December
CSPP is expected to rebound in January, while the ECB reduces QE to €30 billion a month
Argentina lifts target as inflation persists
IMF recommended keeping tighter monetary stance in latest report in December; Argentina’s move could impact central bank credibility
Rwandan central bank cuts rates to historical low
Inflation falls from 6.4% to 2.2% in 12 months; growth supported by higher commodity prices and improved agricultural performance
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
Bank of Japan keeps policy setting on hold
BoJ keeps policy on hold as inflation target remains elusive; Goshi Kataoka dissents again
Riksbank moves towards normalisation; interest rate on hold
Executive board votes to keep the interest rate at –0.5%; says it will end QE programme in December 2017
FOMC will lose two dissenting doves in 2018
Kashkari and Evans were the only members who voted against the last rate rise on December 13
Bank of Mexico hikes rates as inflation rises
Central bank resumes tightening path as Mexican economy faces trade and currency challenges
SNB keeps accommodative policy unchanged
Central bank acknowledges Swiss franc’s depreciation, but still considers the development “fragile”
Draghi says ECB’s asset purchases should stay ‘open-ended’
ECB president rejects calls for September end to purchases as inflation forecasts rise slightly
BoE expects UK inflation slowdown
Bank of England keeps rates on hold at 0.5%; disinflationary base effects likely to outweigh tightening labour market in near term