Monetary Policy
China joins Indian calls for better taper co-ordination
People's Bank of China says advanced economy coordination is ‘reasonable and inevitable course of action', joining calls from the Reserve Bank of India for international monetary policy solidarity
Governors and deputies address labour market conundrums at Jackson Hole
Brazil's Tombini, Japan's Kuroda and BoE deputy Ben Broadbent offer their takes on ‘new natural' unemployment rates, weak productivity growth and central bank remedies
Jamaican governor hails resilience to inflation shocks
Bryan Winter says the country’s reform program has enabled inflation to remain low despite sharp depreciation in currency; reveals new design of monetary policy report
EMs discuss monetary responses to policy spillovers in major BIS publication
BIS publishes result of wide-ranging emerging markets survey, finding that transmission channels have changed since the crisis and opinions differ on how to respond
BoE paper finds QE did boost bank lending - slightly
New data set shows effect of increased deposits did feed through to lending, though the effect was dampened by lower levels of capital during the crisis
Yellen says rate hike ‘could come sooner than currently expected'
Fed chair acknowledges ‘considerable uncertainty' about level of US slack on FOMC, prompted by labour market changes that 'have yet to be understood'
ECB faces ‘significant’ decline in inflation expectations
Mario Draghi raises prospect of ECB action in the face of a ‘significant decline’ in medium and long-term inflation expectations in the eurozone
Polish policy-makers sceptical over major central banks' monetary policy
Minutes from the latest meeting of the Polish monetary policy council reveal doubts that QE and ultra-low rates have had the desired effect
Monetarist view cannot explain eurozone inflation woes, Nobel laureate warns
Christopher Sims says lack of co-ordinated fiscal action dooms eurozone to prolonged lowflation, at German conference for economics Nobel prize winners
FOMC members ‘increasingly uncomfortable' with Fed's forward guidance
Members are interpreting recent economic upturn very differently, new minutes show; views differ on how to communicate labour market improvements to the public
Glenn Stevens calls on ‘animal spirits’ to drive Australian economy
Governor of the Reserve Bank of Australia calls on businesses large and small to invest in new areas outside of the mining sector, suggesting that monetary policy has done its bit for the economy
Bank of England MPC sees first dissent since 2011
McCafferty and Weale vote to raise interest rates, minutes show, as conflicting labour market developments split committee's view on UK spare capacity
Riksbank's Ingves and Flodén warn over risks of persistent low interest rates
Interest rates may need to stay low - creating dangerous levels of household debt, Riksbank governor and deputy tell parliamentary committee
RBA does not see inflation pick-up as threat to target
Minutes from latest board meeting show RBA staff expect inflation to remain ‘consistent’ with target despite annual CPI inflation hitting 3% in June
Unconventional monetary policy has heightened medium-term risks to banks, IMF paper finds
No evidence that unconventional monetary policies has ‘helped' banks, according to paper; finds deterioration of medium-term bank credit risk in US, UK, and the eurozone
Chile cuts interest rates to lowest level since February 2011
Central bank may resort to additional cuts in the months ahead as growth disappoints; Number of Latam economies have performed below expectations so far this year
Bank of Mexico trims growth forecast for 2014
‘Sharp slowdown' early in the year suggests little inflation over ‘horizon in which monetary policy has effect'; structural reforms hailed as ‘indispensable step in right direction'
Firm-level characteristics affect monetary policy transmission, Czechs find
Working paper finds firm-specific characteristics like size, age, collateral and profit, affect the way in which monetary policy changes are reflected in the external financing decisions of firms
Bank of Korea cuts interest rate to lowest level since 2010
Decision prompted by ‘much worse' business sentiment than expected, governor says; analysts expect limited boost to GDP as economic slowdown is ‘structural in nature'
Lesotho holds policy as inflation grows in line with neighbour South Africa
Minimum target for international reserves kept at $610 million, which Lesotho's MPC says is consistent with price stability and currency parity with the rand
Stagnant wages amid falling unemployment creates headache for BoE
Bank of England halves wage growth forecast for 2014 as unemployment seen falling below 6%; Mark Carney notes ‘wide range of views' on MPC about degree of slack
Paper examines optimal monetary policy for wages and hours worked
Firms tend to pay too little for too many hours, economists argue in ECB-published paper; monetary policy should not target inflation too strictly, they say
National Bank of Ukraine warns of FX trade restrictions
Ukraine's central bank has been forced to intervene to smooth currency volatility, and warns ‘administrative measures' may follow; rules on reserves have been relaxed, however
Norway governor sees greater role for central bank in new 'Nibor' framework
Øystein Olsen sees greater powers for Norges Bank over the interbank rate framework, which has 'obvious weaknesses' and should be overhauled 'as soon as possible'