Monetary Policy
Tunisia struggling to regain stability
'Sharp regression' in mining and tourism leads executive board to call for 'ongoing follow-up of the economic situation' in the country
China focus remains on inflation fight
Prudent monetary policy to continue, says central bank; fighting inflation is still top priority
Asymmetry of monetary policy in new EU member states tested: Czech National Bank
A working paper from the Czech National Bank investigates asymmetry of monetary policy in new EU member states
Obama acknowledges AAA credit rating at risk
Obama says result of downgrade would be “like a tax on everyone” with higher interest rates; remains hopeful that there are “plenty of ways out of this mess”
Asian Development Bank encourages regional policy cooperation
The Asian Development Bank wants to see increased regional policy cooperation to ensure more balanced and sustained growth in emerging East Asia
Evolving UK and US macroeconomic dynamics investigated: Bank paper
Bank of England working paper uses model of deterministic structural change to chart the changing UK and US macroeconomic dynamics
IMF paper observes heterogeneous interest rate pass-through
Fund study identifies factors that both facilitate and impede monetary policy pass-through to economy and financial markets
Hungary holds as inflation moves closer to target: minutes
National Bank of Hungary minutes shows decline in inflation suggested return to 3% target would not necessitate a monetary tightening
Robert Mundell: How to save the euro
Nobel laureate Robert Mundell says eurozone can be saved with three-pronged policy solution, ‘for the short run, intermediate run and long run’
Hawkish RBI in ‘surprise’ rate hike
Reserve Bank of India shocks markets with 50-basis point rate hike in a bid to curb rising inflationary pressures; further rate hikes expected this year
South Korea monetary policy talks between government and central bank
Finance ministry official meets with central bank deputy governor to discuss macroeconomic policy; fears central bank may be losing independence
BoE paper identifies drivers of energy price volatility
Bank of England study says risk premium and productivity shocks operated in inverse directions on inflation in the UK
Philippines introduces new financial reporting rules
Central Bank of Philippines revises guidelines on financial reporting to improve stability of financial institutions; new rules bring Philippines into line with international standards
Azerbaijan releases new strategic plan
Document sets out response to changing economic climate; highlights nine targets for supporting macroeconomic stability and growth in the country
Bank of Canada – Monetary Policy Report (July 2011)
Bank of Canada July 2011 Monetary Policy Report shows economy set to continue expansion despite slowdown in demand
Global outlook has deteriorated: Sarb’s Marcus
South African Reserve Bank governor Gill Marcus pins gloomy global economic outlook on events in Europe and United States
Singapore announces large loss
Monetary Authority of Singapore reveals annual net loss of S$10.94 billion ($9 billion); strong local currency to blame
QE2 reduced deflation threat: NY Fed’s Sack
New York Federal Reserve executive vice-president Brian Sack says the risk of deflation in the US diminished significantly following the Fed’s second quantitative easing programme
Greece crisis dominates RBA minutes
Reserve Bank of Australia minutes shows policy board left interest rates on hold amid continued uncertainty over Greece
Sri Lanka ponders 'fit and proper' tests for non-bank lenders
Bill is pending that would introduce ‘fit and proper’ tests for senior executives of non-bank lenders
European Commission unleashes region-wide capital requirement proposal
Commission sets out plans to 'change the behaviour of the 8,000 banks that operate in Europe'; rules limit member states’ right to legislate on capital requirements
BoJ’s Yamaguchi on the battle against deflation
Bank of Japan deputy governor Hirohide Yamaguchi says deflation trend in Japan must be overcome by strong long-term growth
BoE minutes revise upward inflation peak
Bank of England Monetary Policy Committee minutes show inflation could peak higher and sooner than originally expected
Renminbi will not be ready to join SDR in 2015: CentralBanking.com panel
Panellists tell Robert Pringle they believe 2015 will be an important year in the internationalisation of the renminbi; currency will not be included in reweighting of SDR