Monetary Policy
Bank of Colombia rate-setters air inflation concerns
Board of directors unanimously left policy rate unchanged but discussion over inflationary pressures as revealed by minutes shows split over severity of threat
Aussie demand surges following recent RBA rate cut
The Reserve Bank of Australia’s decision to cut interest rates on May 1 led to a sharp fall in the Australian dollar, but has also caused an uptick in demand for the currency, according to FX traders and strategists in the region
Bank of Israel paper evaluates past monetary policy decisions
Discussion paper from the Bank of Israel investigates patterns in monetary policy decisions and their outcomes in the country
IMF paper looks at alternative monetary policy rules for India
International Monetary Fund researchers show forward-looking rules for monetary policy formulation provide better results in India
Robert Pringle’s Viewpoint: Under pressure from Hollande and Obama
François Hollande, the new president of France, takes up residence in the Elysée Palace at a time when significant economic adjustment is taking place in the eurozone, albeit at high cost. His victory looks set to add to pressure on central bankers – and…
BoE holds fire on rates and quantitative easing
Benchmark rate and asset purchase programme unchanged; market looks to inflation figures next week for hints on MPC thought pattern
Central Bank of Brazil blasts report of lost autonomy
Brazilian governor Alexandre Tombini defends central bank in the face of a newspaper article claiming the institution has lost its autonomy
IMF report backs 'appropriate' Swiss currency floor
IMF supports Swiss National Bank currency floor policy; says floor is “appropriate" and discusses relative success to date
New deputy governor notes increasing Swedish economic dependency
Kerstin af Jochnick describes points of importance relating to monetary policy and financial stability; highlights growing dependency of Sweden on events abroad
BIS paper examines potential substitute monetary policy tools
Bank for International Settlements working paper discusses potential for interest rate and capital adequacy requirement tools to contribute to financial stability
Sarb paper examines inflation annoucement influence on currency market
South African Reserve Bank working paper examines link between inflation announcements and short-term currency fluctuations in South Africa
Canada's Murray dispels 'popular misconceptions' about monetary policy
Bank of Canada deputy governor discusses ‘popular misconceptions’ concerning monetary policy formation
Research calls for reduction in trade barriers between Asia and Latin America
Joint research by Asian Development Bank and Inter-American Development Bank calls for barriers to trade to be reduced between regions
Banque de France research examines links between inflation and monetary policy
Banque de France working paper examines link between inflation expectations, monetary policy and the eventual rate of actual inflation in the US economy
Asian central banks urged to keep interest rates on hold
Chief economist of the Asian Development Bank urges caution from policy-makers regarding interest rates; says impact of eurozone bank deleveraging already incorporated into ADB’s growth forecasts
RBA fears downturn in Asia due to euro area contagion
Reserve Bank of Australia expresses fears about potential contagion from Europe hitting export markets in Asia
Bank of Korea minutes highlight inflation fears
Latest Bank of Korea financial council meeting minutes indicate inflation viewed as a concern while growth remains at 'sound' levels
Draghi calls for growth to top the agenda for eurozone
ECB president Mario Draghi calls for 'growth compact' to complement fiscal compact in eurozone; says individual countries need to meet responsibilities on fiscal consolidation
Riksbank minutes show MPC split on rate hold
Swedish central bank minutes reveal two members of monetary policy committee wanted a rate cut; low growth forecast and high unemployment cited as reasons
IMF’s Shinohara sees three ‘brakes’ on global growth
IMF deputy managing director tells ADB annual meeting that fiscal consolidation, bank deleveraging and foreclosures in the US pose substantial risks to global growth
RBA cites weaker economy in decision to cut policy rate
Reserve Bank of Australia cuts cash rate by 50 basis points; highlights weaker economic growth and lower-than-expected inflation for the move
BoJ’s Morimoto says productivity improvements needed to promote growth
Bank of Japan policy board member highlights the importance of productivity in the Japanese labour market to ensure future economic growth
IMF working paper discusses competitiveness and labour costs
International Monetary Fund working paper examines measures of external competitiveness; uses Slovakia as sample for research
MAS to use currency appreciation to keep inflation in check
Monetary Authority of Singapore says ‘gradual’ easing of exchange band will ‘anchor’ inflation; Asian demand to underpin economy despite ageing population and economic problems in the West