Monetary Policy
Danish central bank publishes essays on risk in interest rates and inflation modelling
National Bank of Denmark publishes essay series on risk inherent in interest rate and inflation modelling
QE3 prospects diminish slightly after FOMC minutes release
FOMC minutes provoke fresh questions as to likelihood of further QE; Fed board members cautious on growth prospects
Draghi explains why more LTRO draw-down information is not released
ECB president says it is not possible to release details of LTRO draw downs by individual banks and country usage figures as it could be misleading
Business confidence remains low in Japan
Latest Bank of Japan Tankan survey of Japanese companies shows confidence has not improved in last quarter
RBA governor posits positive outlook as rates remain unchanged
Domestic demand in 2011 was highest rate for four years, says Glenn Stevens; inflation and borrowing also at trend as Reserve Bank of Australia holds rates
Fed’s Plosser cautions against aggressive monetary policy loosening
Philadelphia Fed chairman warns of threat to economic stability from inflation in the medium term; hints rates may have to be raised before 2014
Interbank market ‘almost dead’ in Europe, says Banque de France’s Mongars
ECB operations are critical for European bank funding as the interbank market is all but broken, says NALM panellist
BoE’s Posen says credit failures are hampering UK recovery
UK MPC member Adam Posen highlights lack of non-bank credit options as being among reasons for the slower pace of recovery in the UK relative to the US
King sets out loose monetary policy exit plan
Governor of the Bank of England explains how the UK will unwind from the loose monetary policy measures brought in to support the flailing economy
Bundesbank president cautions against central bank shift into politics
Deutsche Bundesbank president Jens Weidmann confirms central bank’s policy advocating tighter eurozone rules while acknowledging long-term growth is needed to help peripheral countries out of debt
Norway's Olsen discusses factors that shape interest rate policy
Norges Bank governor advocates interest rate policy that considers more than just the inflation target; says impact on output also relevant when setting rates
Markets start to price in QE3 following Bernanke speech
Equity prices rise and dollar eases as markets interpret Federal Reserve chairman’s comments as signalling increased likelihood of further quantitative easing
Richmond Fed paper highlights benefit of debt ceiling
Fed research finds governments can see improvements in fiscal positions when utilising debt ceiling targets
Draghi applauds team effort on euro turnaround
ECB president says every institution in the eurozone contributed to turnaround witnessed since November; warns there is more to be done
Central bankers debate loose monetary policy impacts and exit plans
Masaaki Shirakawa, Christian Noyer, Jean-Claude Trichet and John Gieve highlight the challenges of super-loose monetary policy; Cœuré says ECB has LTRO exit plan
Finnish research finds Chinese growth is restricted by capital constraints
Bank of Finland research finds that despite reforms, borrowing restrictions continue to dampen growth prospects for Chinese corporations
Bernanke pays homage to predecessors
Chairman of the Federal Reserve remembers achievements of Paul Volcker and Alan Greenspan as he delivers second lecture to students
SNB official claims minimum exchange rate improves quality of market
Policy of pegging value of Swiss franc relative to the euro has seen the exchange rate market improve substantially says central banker
IMF working paper suggests financial sector reform key to rebalancing Chinese economy
Reforms that lead to real interest rates rising and appreciate the real effective exchange rate would contribute to rebalancing growth in China toward private consumption, finds IMF research
UK chancellor unhappy about past gold sales
George Osborne issues thinly veiled attack on Gordon Brown over gold sales a decade ago; minutes from latest BoE meeting reveal two votes for more QE
Netherlands Bank research links financial development to net foreign asset composition
Working paper concludes that as a country’s financial position improves, net foreign asset composition likely to decline
IMF paper finds macro-economy dominates behaviour of bond yield curve
Study of Czech bond market asserts that analysis of misalignments in markets can aid forecasting of future yield movements
Bernanke delivers first student lecture
Fed chairman recounts origins of central banks and stresses their importance in first lecture to US students; lecture series takes place at key time as fierce Fed critic Ron Paul runs for president
BoE chief economist highlights UK supply-side challenges
Broad and deep supply-side restructuring of UK economy required to achieve rebalancing, says Spencer Dale