Monetary Policy
RBA: economy at greater capacity than expected
Minutes of the Reserve Bank of Australia’s November meeting show rate-setters’ optimism and explain their decision to implement second rate hike
Sri Lanka cuts rates
Central Bank of Sri Lanka cuts benchmark borrowing cost to 7.5%, narrows rate corridor
IIF’s Abed: financial stability a central bank task
Institute of International Finance’s George Abed says the crisis casts the role of central banks in a new light
Exit easy for India: Mohanty
Reserve Bank of India’s Deepak Mohanty says the central bank should not be troubled by exit from monetary easing
SARB’s mandate up for review
Pretoria to mull Reserve Bank’s inflation-targeting framework; central bank holds rates
Fed’s Kohn rejects bubble claims
Fed deputy acknowledges carry trade but dismisses fears low rates are stoking asset-price bubbles
Shirakawa cautions on carry trade
Bank of Japan’s governor becomes latest official to warn on dangers of low rates in advanced economies; notes balance-sheet adjustments will impact efficacy of monetary policy
US policy threatens emerging markets: China’s top regulator
Chairman of China’s regulator says weak dollar and low rates are dangerous to the global economy; echoes recent comments from top Japan, HK officials
NY Fed’s Dudley on improving tri-party repos
New York Federal Reserve’s William Dudley says Fed wants to make tri-party repo system more stable
Monetary policy impacts effect of fiscal aid
Kansas City Federal Reserve studies the interactions between monetary and fiscal policy
Gold standard did Scandinavia good
Norges Bank examines monetary policy and inflation dynamic of the Scandinavian Currency Union
Woodford unveils new model for transmission mechanism
New York Federal Reserve paper co-authored by Michael Woodford introduces a new model for monetary policy which considers the effects of unconventional policy
China to keep policy “moderately loose”; hint at yuan appreciation
People’s Bank of China to maintain accommodative policy stance, suggests renminbi appreciation could be possible
Korea holds rates for ninth month
Bank of Korea keeps its base rate unchanged, citing resurgence in domestic economic activity
European Central Bank – November Monthly Bulletin
ECB’s monthly report suggests eurozone inflation rates will inch back into positive territory towards the end of the year
QE working, but growth levels to remain anaemic: Bank
Bank of England confident quantitative easing having some impact; more bullish on growth but stresses slack is set to stay until beyond forecast period
Bank of Israel – Third Quarter Inflation Report 2009
Report shows inflation slowed as a result of rate hike
Czechs set fixed time for policy announcements
The Czech National Bank will announce monetary policy decisions at 1 p.m. starting next February
King says credit easing not for central banks
Bank of England governor counters calls to target specific markets and industries through quantitative easing, says this is the responsibility of governments
Norways’s Qvigstad on the art of communication
Norges Bank’s Jan Qvigstad outlines criteria for good central bank communication
Price volatility lower in inflation-targeting countries
Reserve Bank of Australia compares inflation volatility in inflation-targeting and non-inflation-targeting countries
Fed presidents focus on commercial property fears
Atlanta and San Francisco Federal Reserve chiefs echo William Dudley’s warning on commercial real estate
Evaluating monetary policy
Risksbank’s Svensson on the difficulties of measuring the right rate for inflation targeting
Fed poll positive on lending standards but demand still weak
The Federal Reserve’s loan officer opinion survey shows demand for loans in most areas is still weak ; proportion of banks tightening lending standards declining