Monetary Policy
Fed will be ready for exit: Kohn
Donald Kohn, vice chairman of the Federal Reserve, says the central bank will be fully prepared to tighten expansionary policy
IMF’s new exchange-rate terms explained
International Monetary Fund explains revisions to its system for the classification of exchange rate arrangements
Bank’s Miles confident on quantitative easing
QE working and will end when circumstances dictate, says MPC member
House prices influence rate setting – Norway’s Gjedrem
Norges Bank’s Svein Gjedrem says equity and property prices influence monetary policy in Norway
Wanted: paranoid and unpopular central bankers
Panel says central bankers must look for risk everywhere and be prepared to implement unpopular policies to prevent the next crisis
We won’t shore up money markets indefinitely: Trichet
European Central Bank president says its too early to exit, but warns “exceptional measures” must be phased out
Bailout announcements agitated markets, shows IMF study
IMF working paper shows bailout decisions aggravated inter-bank markets, and argues for a coordinated policy response to restore global confidence
Volcker: narrower role would make Fed too detached
Paul Volcker says removing supervision from Fed’s ambit would risk turning central bank into “academic seminar”
Fed audit would damage economy: counsel Alvarez
Federal Reserve lawyer defends central bank against lawmakers’ attempts to scrutinise its monetary operations
Flexible targeting still best practice: Riksbank’s Svensson
Lars Svensson, Deputy Governor of Sweden’s Riksbank, says impact of finance on monetary transmission mechanism must be better understood
Fed decision depresses markets despite positive outlook
Federal Open Market Committee sees improvement in economy, but its decision to slow purchases of mortgage-related debt hits confidence and divides analysts
Iceland cuts overnight rate, looks ahead to removing capital controls
Icelandic Monetary Policy Committee votes to cut only overnight lending rate, cites “encouraging signs”
Monetary policy must inspire confidence to counter debt fears
Kate Barker, a member of the Monetary Policy Committee, argues central bank must be sensitive to changes in attitudes towards debt and investment
Central banks victims of their own inflation-fighting success
European Central Bank tests whether memories of high inflation affect public preferences about the importance attached to price stability
Bank to hold seminar to clarify QE
Bank of England invites economists and the press next week to mark six months since the start of bond purchases, denies “crisis” meeting
Denmark makes third cut in six weeks
National Bank of Denmark shaves a tenth of a percentage point of key rate
BoE offers measured optimism but warns of “false dawns”
Monetary Policy Committee unanimously vote to maintain the bank rate and asset purchase programme
Norway alludes to rate hike
Executive Board vote to maintain policy rate, but suggest tightening if current trends in Norwegian economy continue
Kenya, SA hold rates, flag recovery
Central Bank of Kenya and South African Reserve Bank relatively upbeat on growth
Credit measurement in a changing world
Reserve Bank of Australia presents its approach to measuring credit and non-intermediated debt flows
Move beyond price stability: IMF to central banks
Monetary policy not to blame for crisis but International Monetary Fund argues bubbles possible to predict
Korea to follow Israel’s lead and hike?
Report suggests Bank of Korea considering tightening
Bank’s Sentance: watch the energy market
Bank of England’s Andrew Sentance says next global shock might come from the energy market
Czech’s Tuma: links with stats office key
Czech National Bank’s Zdenek Tuma says central banks and national statistical offices must maintain good cooperative relations