Monetary Policy
Q&A: Central Bank of Colombia governor José Darío Uribe
The governor of the Central Bank of Colombia talks to Christopher Jeffery about the challenges the bank faced during the global financial crisis and its objectives for the future in a changing regulatory environment
Balance sheet lessons from the Bank of Japan
The Bank of Japan has expanded its balance sheet in more ways than any of its developed world peers. Hisashi Harui reviews the unconventional approaches it has used to ensure financial stability
China cuts reserve ratio again
People’s Bank of China knocks 50bp off the reserve requirement for the country’s largest banks; policy to remain “prudent” says central bank
Central Bank of Chile paper questions efficiency of forecasts
Research paper finds taking weighted averages of two competing forecasts can introduce inefficiencies
BIS deputy general manager highlights pressure on monetary policy
Hervé Hannoun, deputy general manager of the Bank for International Settlements, says monetary policy frameworks are under “enormous pressure”
Indonesia’s Nasution discusses global and domestic pressures
Governor of Bank Indonesia explains impact of global downturn and laments slow progress in resolving ongoing issues with Indonesian financial system
Bank of Korea announces new policy board members: reports
Reports say Park Won-shik, a deputy governor at the Bank of Korea, is the first new member of the monetary policy board; several more to come
NY Fed paper discusses budget deficit impact on output
Federal Reserve Bank of New York staff paper finds running budget deficits can be either expansionary or contractionary for output, depending on how deficits interact with expectations about the long run
Bank of Canada sees 'significant risks' to inflation outlook
Bank of Canada’s Monetary Policy Report for January 2012 sets out “significant risks” that threaten the inflation outlook
Shirakawa compares Bank of Japan’s inflation goal to Fed's
Masaaki Shirakawa says Federal Reserve and Bank of Japan new inflation goals are "basically the same"
FOMC minutes show split on bond purchases
Minutes from latest Federal Open Market Committee meeting shows board members disagreed over introducing another bond-buying programme to boost the economy
RBA’s Lowe offers views on economic path for 2012
Reserve Bank of Australia deputy governor sets out thoughts on the country's economic position in 2012
Fed official reports on success of dollar swap lines
Steven Kamin, director of the Division of International Finance at the Fed, tells Senate committee currency swap lines have helped ease dollar funding market; stresses agreements are risk-free
BoE sees strong possibility of inflation undershooting its target
Bank of England February Inflation Report shows inflation in UK is more likely to be below than above its 2% inflation target over the next three years
Lockhart admits Fed timescale for raising rates could change
Federal Reserve Bank of Atlanta president Dennis Lockhart says FOMC statement anticipating low federal funds rate levels until at least late 2014 was conditional on economic conditions
Parliamentary committee calls for Kenyan governor to resign
Parliamentary Select Committee finds governor's "conduct and behaviour incompatible with the holder of the office of governor of the Central Bank of Kenya"; calls for resignation
Fed’s Plosser warns against ‘accelerationist’ policy
President of the Federal Reserve Bank of Philadelphia says approach that calls for monetary policy to do more to get to objectives faster must be avoided
BoE’s King explains continuing high inflation
Mervyn King writes to chancellor of the exchequer explaining why inflation remains above target; despite 0.6% drop in rate since December, governor must offer reasons for missed target
Japan 'clarifies' monetary policy stance amid criticism
Bank of Japan again increases size of asset purchase programme and sets an inflation target; follows political pressure that Japan is sending the message deflation is acceptable
Riksbank submits proposal to transfer allocation of profit to Treasury
Swedish central bank plans to transfer Skr7.5 billion to Treasury; full plan to be revealed at end of March
Japanese public offers opinions on economic conditions
Bank of Japan publishes results from most recent public opinion survey; many expect to see economic conditions worsen in next 12 months
SF Fed’s Williams supports buying-up mortgage-backed securities
Federal Reserve Bank of San Francisco president John Williams says restarting the Fed’s programme of purchasing mortgage-backed securities is the best way to boost the US economy
ECB approves collateral eligibility criteria of seven Eurosystem central banks
European Central Bank leaves interest rates unchanged but confirms plans to relax collateral criteria for credit claims at seven Eurosystem central banks, including Banque de France
BoE boosts QE by £50 billion
Bank of England increases the size of its Asset Purchase Programme to £325 billion as forecasts show inflation in the UK is likely to undershoot its target in the medium term