Monetary Policy
Draghi: structural reforms are too important to leave to member states
Mario Draghi calls for new European rules that would compel eurozone member states to reform their economies; Benoît Cœuré describes it as ‘convergence process 2.0’
Malawi cuts policy rate in line with falling inflation
Less pressure on prices and a more stable exchange rate meant an even bigger cut was on the cards, but the MPC preferred to wait and see what the budget brings
Noyer backs ECB minutes to shed light on ‘complex’ monetary policy
Banque de France governor Christian Noyer explains why the ECB should start publishing accounts of its monetary policy discussions, but stresses need to preserve ‘collegiality’ on the council
Kenyan central bank launches new interest rate
Kenyan banks are required to use a new base rate when pricing loans; central bank thinks it will boost the supply of credit to the private sector but observers are sceptical
FOMC members offer conflicting takes on US inflation path
Jeffery Lacker says inflation is moving closer to the Fed's 2% target, while Narayana Kocherlakota warns reaching it may take another four years
Colombian monetary policy-makers ignore World Cup effect
Decision to raise interest rates attributed to rising inflation expectations - which were not put down to the country's footballing success
OECD warns taper hits developing-world growth prospects
Paris-based club of advanced economies warns taper will combine with declining commodity cycle and anaemic eurozone growth to hurt the growth prospects of developing countries
Nakaso backs BoJ to exit QQE smoothly
Bank of Japan the only central bank with experience in exiting QE; Hiroshi Nakaso says it has an ‘extensive’ range of instruments at its disposal
Lautenschläger sees TLTROs impacting real economy from next year
Executive board member warns targeted lending programme will ‘take longer’ than other policies to work through economy; markets question whether banks will demand the estimated €1 trillion
Luxembourg paper busts myth of money ‘parked’ with central banks
Researcher at the Central Bank of Luxembourg argues the increase in central bank deposits in the Eurosystem is not a reflection of banks’ lending habits
Thai governor stresses value of independence
Prasarn Trairatvorakul calls on the new Thai government to ‘protect’ the central bank’s independence, which he describes as ‘the very source’ of its credibility
Lagarde highlights threat of renewed EM volatility
IMF director lauds ECB assault on low interest rates and highlights importance of central bank communication as Federal Reserve continues to taper
Central bankers insist rates are staying put as BIS faces ‘loss of credibility'
Haldane says risk 'migration' could create a more robust financial system; Yellen, Draghi and Cunliffe believe monetary tightening would be the wrong way to turn
Mario Draghi can ‘use the force' in central banking ‘confidence trick'
Market participants say ECB president Mario Draghi is the ‘Yoda' of central banking for his adept use of ‘Jedi mind tricks'
ECB's Cœuré says German lowflation threatens to trigger eurozone ‘race to the bottom'
Executive board member argues bank's June measures were necessary as Germany plays a 'benchmark role for peripheral countries in correcting their imbalances'
ECB cuts frequency of monetary policy meetings
The governing council will set policy once every six weeks from January 2015; when combined with new rotation system national central bank governors will only vote six or seven times each year
Solomon Islands paper investigates monetary policy transmission mechanism
Second paper in a new series from the Central Bank of the Solomon Islands examines role of M1 and exchange rate on inflation and output in the Pacific archipelago
Ingves outvoted as Riksbank cuts 50bp
Swedish central bank hits zero lower bound for first time since 2010 as inflation plummets; outvoted Ingves says his standing is not weakened, calls housing situation ‘acute'
Glenn Stevens lifts veil on RBA comms strategy
Reserve Bank of Australia governor Glenn Stevens says guidance on the future path of interest rates has ‘served its purpose’ and tells markets what to look for next
Dutch paper: Fed guidance pushed up equity prices abroad
Working paper published by The Netherlands Bank attempts to quantify impact of Fed’s forward guidance on international equity markets
Italian socialist tipped to lead ECB-watching Econ Committee
Roberto Gualtieri likely to be elected as chair of the Econ Committee next week in the European Parliament, making him the chief point of contact with the European Central Bank
Tombini says inability to instil confidence ‘central explanation' for weak recovery
Central Bank of Brazil governor says ‘longer period of normalisation of monetary policy' a possibility; domestic inflation 'under control' and likely to remain ‘well behaved'
BIS's Caruana warns low interest rates are ‘self-validating'
Persistent low interest rates can become self-validating, BIS general manager Jaime Caruana warns, in annual speech in which he called for greater international co-ordination
Plosser: Fed should be stripped of dual mandate
Charles Plosser says the Federal Reserve should ‘focus solely’ on price stability, as monetary policy has ‘very limited ability’ to influence employment