Monetary Policy
San Francisco Fed paper identifies strong QE signalling channel
San Francisco Federal Reserve study finds strong signalling effect from Federal Reserve’s quantitative easing programme
RBA holds rates as global uncertainty continues
Reserve Bank of Australia minutes shows policy board left rates on hold as international outlook became even more cloudy
Riksbank was ‘wrong’ to raise rates: Svensson
Riksbank deputy governor Lars Svensson says Riksbank miscalculated repo rate path and should have followed Federal Reserve with accommodative stance
Mauritius to investigate interest rate ranking
Mauritius plans to challenge World Economic Forum report on interest rate spread ranking
BoE has 'space' to opt for more quantitative easing: deputy prime minister
Bank of England must independently decide on whether to introduce more quantitative easing, says deputy prime minister Nick Clegg; issues stark global economy warning
Turkey’s Basçı outlines strategy to overcome commodity price volatility
Central Bank of Turkey governor Erdem Basçı says setting targets and forecasts for inflation offers firmer commitment from central bank
BoJ prepared to react to strengthening yen, says Miyao
Bank of Japan policy board member Ryuzo Miyao says central bank stands ready to stem deflationary pressures resulting from rising yen
Fed policy must be state contingent: Bullard
St Louis Federal Reserve president James Bullard calls for FOMC to discard fixed dates for setting policy
BoC paper experiments with price-level targeting
Bank of Canada study finds evidence in support of well-anchored inflation expectations in a price-level targeting regime
HKMA’s Chan happy with pace of renminbi internationalisation
Norman Chan accepting of need to test the offshore market with step by step internationalisation of renminbi; urges banks to get ready for trade using Chinese currency
Posen calls for UK version of Fannie Mae
Bank of England MPC external member Adam Posen says establishment of government-sponsored entities would make up for credit short fall in lending markets; calls for immediate quantitative easing
UK ring fence poses legislative challenges
ICB stops short of asking for complete separation of retail arm from investment operations; how the government will legislate on the proposals is still unclear
Early monetary exit risks return to recession: KC fed paper
Kansas City Federal Reserve study shows an early monetary policy exit can lead to a double-dip recession
Bank of Israel narrow forum backs rate hold
Bank of Israel minutes show narrow forum monetary policy members were unanimous over decision to hold rates due to domestic and global outlook
BoJ minutes outline central bank's QE strategy
Bank of Japan minutes show boost in asset purchase programme aimed to influence longer end of yield curve; confirms intervention in yen foreign exchange markets
Lagarde adds to pressure on G-7 meet
Lagarde calls for global action; Canada set to raise dissatisfaction with Swiss franc exchange rate limit at G-7 gathering in France
Bernanke stays tight lipped on further stimulus
Ben Bernanke disappoints once again with bland speech; offers no hint of future stimulus
Carstens content with Mexican position
Governor of Mexican central bank says country is in a strong policy position; ready to act if global economy worsens
Trichet reacts angrily to criticism
European Central Bank president Jean-Claude Trichet rejects attack by German politician on bond-buying programme; ECB and Bank of England both hold interest rates as global outlook worsens
The future of central banking: CB.com panel
Robert Pringle moderates a panel assessing the future of central banking in a post-financial crisis world
OECD asks central banks to hold rates
OECD asks for rates hold and revises growth forecasts downwards; chief economist says further QE in the US "could be appropriate”
Case for QE3 mounts as US economy weakens
Federal Reserve presidents Charles Evans and John Williams make case for further quantitative easing, as latest Beige Book report reaffirms slowdown in US economic activity
Clear central bank communication facilitates greater policy flexibility: IMF paper
Fund study shows clear central bank communication can reduce inflation and interest rate volatility
Riksbank postpones rate hike on weaker global outlook
Riksbank votes to hold rates at 2% amid concerns over public finances abroad and deterioration in global growth; central bank revises downward repo path