Monetary Policy
Too early for global exit strategy - Saudi chief
Muhammad Al-Jasser, governor of Saudi Arabia’s central bank, cautions against a rushed withdrawal from expansionary measures
Former Bank MPC members play down negative GDP number
Willem Buiter and Charles Goodhart dismiss third-quarter growth statistic; push for moderate expansion of quantitative-easing programme
Japan shifts liquidity focus to loans
The Bank of Japan will extend low interest corporate loans to March, but halt purchases of commercial paper and corporate bond at year-end
No “urgency” to exit as Kiwis hold rates
Decision to stay at record low reflects recovery
Unconventional measures must remain – Buba’s Weber
Axel Weber says main liquidity-boosting measures must continue and be wound down only gradually
Rand strength undesirable: SA finance minister
Pravin Gordhan, South Africa’s Minister of Finance says the government will aid the central bank building reserves
Norway raises rates
Higher than expected inflation means Norges Bank becomes first European central bank to begin “exit strategy”
Strong Canadian dollar “threat to growth”
Mark Carney, governor of the Bank of Canada, says currency intervention is ineffective without supporting policies
Vietnam holds rates steady and commits to dong liquidity
Central bank's policy reflects anticipated year-end currency shortage
Recovery starts in India’s economy
RBI governor upbeat in mid-year monetary policy review
Britain on road to “lost decade”
Newest MPC member says fixing banks must be a priority for UK
Turkey revises inflation forecast downwards
The Central Bank of Turkey’s quarterly Inflation Report shows significant reduction in inflation rate
Curaçao and Sint Maarten should dollarise – Tromp
Bank of the Netherlands Antilles’s Emsley Tromp says formal dollarisation would improve the islands’ macroeconomic stability
Raise inflation target to avoid slump – IMF report
International Monetary Fund study looks at how monetary policy can help hold off a protracted deflationary and economic slump when policy rates are near zero
Indian banks resilient – RBI report
Reserve Bank of India’s report shows financial sector has coped well, but systemic risk remains
Why MPC chairmen are (almost) always in the majority
Research uncovers reasons why committees tend to back chairmen
Norges Bank reverses emergency collateral rules
Norway’s central bank tightens collateral guidelines with immediate effect, proposes end to acceptance of bank bonds
QE has boosted broad money: Bank
Bank of England’s Monetary Policy Committee unanimous in decision to keep the bank rate and the asset purchase programme unchanged
Research to focus on stability: Buba’s Weber
Bundesbank’s Axel Weber says central banking studies must concentrate on financial stability and links to monetary policy
Corporate debt purchase no longer vital: BoJ
The Bank of Japan’s rate setters say financial conditions improving on the whole, some downside risks remain
Bank of Botswana – Banking Supervision Annual Report 2008
Central bank says banking sector was resilient despite crisis because of limited exposure, but anticipates ‘second-round’ effects
Canada sees more modest recovery
Bank of Canada downgrades growth forecasts slightly, says slack to remain until September 2011
NY Fed sets out stall on reverse repos
New York Fed communicates workings of possible strand of exit strategy
Gulf officials call for UAE, Oman to rejoin monetary union
Members of the four states still involved in plans for single currency in the Gulf ask UAE and Oman to come back