Monetary Policy
Riksbank minutes reveal further rate cut rejected
Board members vote to hold interest rate at 1.25% despite two deputies' reservations
QE sliced unemployment by 1.5 points, says Fed’s Williams
San Francisco Fed president says Fed's forward guidance on rates has narrowed Treasury yields by 15-20 basis points, about the same amount as QE2; asset purchases have cut unemployment by 1.5 points
BoJ paper evaluates zero interest rates in 1990s
Bank of Japan study considers the impact of zero interest rates and quantitative easing during the 1990s; says it had expansionary effects
Macedonian governor says economy is stagnant
Dimitar Bogov lowers Macedonia’s growth forecast down from 1% to stagnation; expects gradual recovery in following years
National Bank of Denmark criticises independent economic report
Denmark’s central bank says Economic Council report on the Danish economy overestimates the economy’s growth potential
Zambia rate rise to suppress excess liquidity
Bank of Zambia monetary policy committee increases interest rate to combat a range of inflationary pressures
IMF study analyses Asian monetary policy channels
Research published by the IMF examines monetary policy transmission mechanisms in Asia; questions whether interest rates are determined by global factors
Stockton review finds Bank of England’s forecasting ability wanting
A study commissioned by the Court of the Bank of England finds biases in forecasting and a lack of allowance for lateral thinking at the UK central bank
BoJ expected to counter overseas monetary policy, minutes reveal
Bank of Japan minutes show senior Japanese government officials made demands of the Bank of Japan during its October policy meeting
Uganda cuts rates to 12.5% in bid to spur domestic economy
Bank of Uganda cuts benchmark rate to 12.5% in bid to boost domestic growth as inflation falls within medium-term target
IMF mission positive on Mozambique
International Monetary Fund inspectors cite significantly improved inflation levels and robust growth in GDP for latest favourable report on Mozambique
Norway paper finds emerging markets drive oil-price volatility
Norges Bank working paper finds that changes in emerging market demand for oil has more than doubled the impact on real oil prices and production compared with the developed world
BoE’s Bean sceptical of ‘helicopter money’; scotches calls to ‘cancel’ gilts
The Bank of England has received criticism for quantitative easing failing to normalise economic growth. But deputy governor Charlie Bean says some alternatives look even less attractive
Barbadian growth ‘stagnant’ as tourism falls
Central Bank of Barbados governor discusses economic review for first nine months of 2012 against a backdrop of falling growth and rising unemployment
Panic in Persia as hyperinflation hits Iran
Iran’s implied monthly inflation rate hit 69.6% in September, meaning the country appears to be entering the world's 58th hyperinflation episode
RBI pushes government to act on fiscal consolidation promises
Reserve Bank of India chief calls on government to make concrete progress on fiscal consolidation as central bank holds rates but cuts reserve requirements
BoJ mirrors BoE’s FLS and steps up easing
Bank of Japan launches scheme with similarities to Bank of England’s funding for lending and steps up the size of its asset purchase programme by $138 billion
Singapore review exposes plummeting growth rates
Biannual Monetary Authority of Singapore macroeconomic review details large drop in growth rates; inflation and unemployment steady
Draghi wants European veto over national budgets
ECB president Mario Draghi says he supports German proposal that would centralise European sovereignty; believes divide with Bundesbank president can be overcome
Albanian governor seeks EU support for Balkan countries
Ardian Fullani says European Union support would help provide the tools for greater co-operation among Balkan countries
Finland paper advocates partial commitment to inflation targeting
Bank of Finland study warns of dangers involved in ‘over-committing’ to interest rate adjustments in reaction to price changes; suggests short-term reactions may be appropriate
RBNZ’s new governor rejects QE and capital controls
Reserve Bank of New Zealand’s Graeme Wheeler sees no need to introduce a ‘desperate’ measure such as quantitative easing in the country; rules out use of capital controls to limit kiwi dollar appreciation
Thailand lowers growth and inflation forecasts
Bank of Thailand says export demand has softened in latest quarterly inflation report; inflationary pressures will decrease as a result
Fed’s QE2 will have ‘modest impact’, says San Francisco paper
Research by the Federal Reserve Bank of San Francisco estimates the second round of Fed quantitative easing will have only a small effect on GDP growth and inflation