Monetary Policy
Bank of Italy on post-Lehman credit conditions
Bank of Italy paper shows severe credit contraction and behaviour of zombie banks distorted lending following Lehman’s collapse
China lifts reserve ratio on fears over inflows, Australia hikes again
People’s Bank of China raises reserve requirement ratio by 0.5% as concern mounts on currency speculators; Reserve Bank of Australia tightens as data suggest growth will outstrip 2009
NBB: Macroeconomics not to blame for financial turmoil
Belgian central bank paper looks at the consequences the financial crisis on macroeconomics with a study of Keynes and Lucas.
Taiwan to scrutinise lending on hot money fears: reports
Official from Central Bank of the Republic of China (Taiwan) reportedly says lenders’ foreign currency loans will be inspected for signs of speculation on currency
NBB: research department’s role in central banks vital to policy
Belgium National Bank looks at role of research departments in the bridging gap between policymakers and academics
Japan to make 'new efforts' to boost growth
Bank of Japan introduces new pledge to help lay foundations for strong growth, says it will set up temporary facility to support lending to business
Central bankers split on raising inflation targets: poll
CentralBanking.com poll shows a slim majority think raising targets to 4% is a bad idea, while nearly 44% approve to some extent
Turkey sanguine on inflation
Turkey’s 2010-11 inflation report shows price pressures continued to rise during the first quarter of the year, but that these were cost-push rather than demand-driven pressures
Rate round-up: Brazil hikes, most hold, Russia cuts
Brazil raises policy rate to 9.5%, Russia cuts to 8.25%; United States, Poland and New Zealand hold
Eurozone credit standards tightened further in past three months
ECB s bank lending survey shows credit conditions remain fragile
Republicans propose end to Fed's quasi-fiscal activity
Senate Republicans leak alternative regulatory proposals calling for an end to Fed’s involvement in shoring up broad sectors, central bank cannot lend to firms with solvency problems under plans
Bank reports on impact of quantitative easing
Bank of England asset purchase report shows bank held gilts purchase steady in early 2010 despite marginal sale in corporate bonds
Hungary cuts as critical opposition sweep to power
National Bank of Hungary trims rates by 25 bps as opposition election victory puts central bank on collision course with incoming government; former governor expected to be named finance minister
China must choose either stable prices or currency: PBoC adviser
Newly-appointed Chinese central bank adviser Zhou Qiren says the central bank cannot have a dual mandate of price and exchange-rate stability
Israel welcomes new law, no sign of rate-setters yet
Bank of Israel law creating a six-member Monetary Committee officially passed and governor Stanley Fischer thanks those who contributed, government has not yet begun search for external members
Bank of Canada: Monetary Policy Report April 2009
Bank maintains its benchmark interest rate steady, but report signals plans to begin to lessen the degree of monetary stimulus as the need for extraordinary policy passes
Shirakawa slams inflation-targeting 'fixation'
Bank of Japan governor blames single-minded use of inflation targets for the growth of credit bubbles, says price levels alone do not show health of the economy
BOE policy on hold on downside risks in Europe
Bank of England minutes shows its Monetary Policy Committee left rates on hold amid continued economic uncertainty in Europe
Israel flags speedy recovery
Bank of Israel Annual Report shows GDP grew 0.7% in 2009; outpacing other advanced economies
BoJ's Nishimura: we can escape deflation
Deputy governor Kiyohiko Nishimura confident of dealing with chronic deflation
Don't raise rates too late, ECB's Bini Smaghi warns
ECB board member Bini Smaghi offers recommendations to policymakers on strategy towards tightening policy
IMF: local currency lending cushioned crisis blow
IMF study shows increased domestic currency lending led to relatively strong access to credit in American countries following credit crunch
Canada scraps commitment to hold rates; signals hike
Bank of Canada drops conditional commitment to hold overnight rate at 0.25%; pledge one of a number made by central banks to soothe markets’ nerves
India hikes again as food price inflation catches on
Reserve Bank of India raises both repo and reverse repo rates by 25 basis points as headline inflation stops just short of 10%, draws $1.25 trillion out of system