Monetary Policy
Korean governor wants domestic demand boost
At the latest Bank of Korea financial council meeting, Kim Choongsoo calls for increase in long-run domestic demand; bank presidents raise concerns over SME business environment
Fed holds fire on further easing
Federal Open Market Committee votes to hold federal funds rate and maintain current scale of asset purchases; concerns persist over labour market conditions, raising possibility of further stimulus
BoE’s King highlights limitations of monetary policy
Bank of England governor says new asset purchase programme is still feasible, but indicates the use of monetary policy to bolster the economy is getting much harder
Draghi defends OMTs in front of German parliament
ECB president answers questions from Bundestag in a bid to address German fears over effect of outright monetary transactions
French deputy emphasises importance of non-financial sector data
Banque de France deputy governor says information on non-financial companies has vital uses on the micro and macro level, as it helps evaluate collateral and perform stress tests
RBA seeks more transparency in securitisation market
Reserve Bank of Australia assistant governor says new information requirements in the securitisation market will enable financial institutions and investors to better assess risk
SNB paper examines Swiss franc unsecured money market
SNB research considers banks' ability to access central bank money; finds it is a neglected area of policy
Remittance flows transmit global shocks, says IMF paper
Study by IMF says remittance flows act as a transmission channel of global shocks to emerging and developing countries; policy adjustment required
Poland minutes show further monetary policy division
Polish Monetary Policy Council split on decision to hold interest rate at 4.75%; third successive meeting where interest rate cuts are proposed but rejected
BoE’s Haldane outlines transparent future for the central bank
Executive director for financial stability says Bank of England has undergone a transformation of communications and transparency; outlines ‘radical’ shift in central bank’s operations
RBA assistant governor discusses impact of OTC repository licensing
Malcolm Edey considers how a licensing regime for trade repositories in OTC markets in Australia will impact the RBA; central banks to focus on market-monitoring, advisory and oversight
Stability the best foil for inequality, says ECB’s Cœuré
ECB executive board member considers the ability of monetary policy to tackle income inequality in Europe, saying stability is key to promote fairness
Papua New Guinea governor to tackle high liquidity
Loi Bakani discusses the state of Papua New Guinea’s economy; outlines the risks linked with high levels of fund inflows and how the central bank is addressing them
Further QE discussed in BoE minutes
UK central bank’s Monetary Policy Committee minutes show further quantitative easing debated even though members voted unanimously to keep asset purchasing at current level
Central Bank of Iceland minutes hint at future tightening
Interest rate hold narrowly passed by central bank’s monetary policy committee in October as Iceland appears to shift towards withdrawing accommodative policy in near future
Pakistan’s Muktadir lauds mobile payments transition
State Bank of Pakistan deputy governor says uptake of mobile phone and smart card banking is changing the finance landscape in Pakistan
Angolan governor praises inflation targeting
José de Lima Massano says the National Bank of Angola’s inflation targeting policy has brought inflation down to ‘single digit’; says policy helps prick speculative bubbles and encourages investment
Peruvian paper questions role of money in New-Keynesian models
Central Bank of Peru research considers the shortcomings of New-Keynesian models, saying the exclusion of real-money balances is counterintuitive
Bank of Israel optimistic on economic activity
A report on economic developments in Israel shows growth has continued at a moderate pace, increasing in the second quarter of the year, as other indicators paint a positive picture for future economic activity
Seychelles switches to new funds transfer system
Central Bank of Seychelles plans to introduce a new domestic electronic funds transfer system and will 'phase out' the existing Swift communication protocol; core banking system explained
Fed’s Dudley says FOMC policy actions were justified
New York Fed president William Dudley defends asset purchases from critics. But market response to QE remains muted
Bernanke plays down emerging market impact of QE
Fed chairman says negative impact of quantitative easing on emerging markets is offset by a stronger US economy. But countries such as Brazil have had to take action to protect their currencies
Lacker explains dissenting votes
Jeffrey Lacker, president of the Richmond Fed, explains his dissenting votes during past six FOMC meetings; warns of misinterpretation
Asian integration holds key for Malaysia’s Zeti
Bank Negara Malaysia governor says integration necessary if Asia is to continue to develop; funds need to be able to reach investment opportunities