Monetary Policy
Riksbank deputy leads defence against Svensson critique
Vice-governor one of several heavyweights, including former governor and Nobel Foundation head Lars Heikensten, to take on Lars Svensson, who blames the bank for causing unemployment
Buba's Dombret says ECB agrees there are limited risks of deflation
Low inflation in the eurozone should not become deflation, Andreas Dombret says in a speech at the Dallas Fed, as current low inflation reflects unique factors
Fed paper challenges New Keynesian orthodoxy
Working paper argues sticky prices, which underpin most central banks’ New Keynesian models, can produce implausible results at the zero lower bound, with major implications for policy
Rosengren calls on FOMC to update forward guidance
Boston Fed president Eric Rosengren – who is not on the FOMC this year – calls for guidance to be increasingly linked to achieving the dual mandate
Ukraine hikes rates as fears grow of spiralling inflation
Ukraine is implementing economic reforms in order to win the favour of international donors, but the weakening currency risks sending inflation out of control
Israel to announce rate decisions while trading floor is open
Move will bring Israeli central bank in line with its international peers but unlikely to make much practical difference, observers say
Empirical study informed Friedman's shift to monetarism
Divergence in views of Milton Friedman and Henry Simons was due to different emphasis on data construction and analysis, argues George Tavlas
Foreign banks acted as 'buffer' on Korean monetary policy during the crisis
Bank of Korea working paper examines the impact of foreign banks on the central bank’s monetary policy transmission mechanism during the recent crisis
Top central bankers meet at IMF to discuss way forward in the 'new normal'
IMF's Christine Lagarde hosts day-long conference taking on the challenges set to face the world's central bankers in the medium term
Central bank communication key to herding behaviour, BoJ paper finds
‘Two layer’ model of investor information highlights crucial role for central bank communications in causing – and containing – herding behaviour in markets
PNG governor says central bank braced for LNG revenues
Bank of Papua New Guinea governor cautious in face of liquefied natural gas production coming online later this year, which could boost growth but may result in a decline in the manufacturing sector
Bank of England and ECB in joint call to put ABS back in play
European Central Bank and Bank of England promise more thorough treatment of how to reverse asset-backed securities market decline - which could allow ECB to undertake QE
Bernanke and Rajan cross swords over policy spillovers
Former Fed chairman challenges RBI governor’s analysis of monetary policy spillovers, after Rajan calls for greater co-operation between central banks
FOMC minutes reveal disagreement on forward guidance
Members emphasised ‘uncertainty associated with using thresholds, triggers, or floors' as part of forward guidance in March video conference
Norges Bank governor says clear 'reaction pattern' lessens attention on forward guidance
Øystein Olsen tells Columbia University audience the better central banks become at communicating their reaction pattern, the less attention their forward guidance will receive
Effect of a monetary policy shock is volatile over time
Research using 100 years of US economic data finds the sensitivity of the economy to monetary policy shocks has changed ‘dramatically'
Weidmann would consider 'outsourcing’ SSM from ECB
Jens Weidmann tells Klaas Knot the ECB should consider ‘outsourcing’ the single supervisory mechanism once it is established
Turkey's Başçı reiterates rate cut is unlikely
Central Bank of Republic of Turkey governor Erdem Başçı says lower interest rates unlikely following PMs call for a cut on Friday
BoE adds ECA-backed loans as acceptable collateral
Loans guaranteed by UK export credit agency UKEF will be accepted under the Bank of England's Sterling Monetary Framework, with a haircut
ECB says forward guidance a success
European Central bank annual report for 2013 finds forward guidance helped to stabilise money market conditions and anchor market expectations
Yves Mersch urges ABS regulation rethink
European Central Bank executive board member calls for global framework that distinguishes between securitisation instruments of different qualities
Monetary policy's 'new normal' will challenge central bank independence, say IMF staff
The ‘new normal' for monetary policy, including taking account of macro-prudential concerns and cross-border spillovers, will also complicate accountability and challenge central bank independence
Turkish PM calls on central bank to cut rates
Turkey's prime minister Recep Tayyip Erdogan calls on central bank to ‘convene extraordinary meeting' to cut interest rates day after governor sends ‘hawkish' signals in London
FOMC member says 3% growth would prompt fed funds rate 'lift-off'
Atlanta Fed president Dennis Lockhart advocates a 'dashboard' approach to forward guidance and says quantitative easing is tapering 'predictably'