Monetary Policy
Bank of Canada keeps rates unchanged
The Bank of Canada left interest rates unchanged at 4.25% on Tuesday 11 July and repeated a May statement that the seven prior increases are enough to return inflation to its 2 percent goal.
BOK maintains hawkish stance
Bank of Korea governor Lee Seong-tae said on Monday 10 July that the central bank will take preemptive action to curb increased pressure on inflation.
Central bank's focus should be on growth
According to this opinion piece from The Jakarta Post, published Monday 10 July, Bank Indonesia should start concentrating on issues of how it is going to use its monetary policy to spur further economic growth.
Japan ruling party backs ending BoJ rate policy
The Bank of Japan has received clear backing from the ruling Liberal Democratic Party on its plans to end the current zero interest rate policy.
Iwata on monetary policy under the new framework
In the speech 'The conduct of monetary policy under the new framework' given on 8 June (published 7 July) Kazumasa Iwata of the Bank of Japan said against a background of high crude oil prices, major countries around the world are in the process of…
Too much secrecy in appointing the Bank's MPC
Writing in the Financial Times on Friday 7 July, UK shadow chancellor George Osborne says the appointment process to the Bank of England's Monetary Policy Committee has been brought into sharp focus with the MPC down to seven of its full complement of…
Trichet gives strong hint on August rate rise
European Central Bank president Jean-Claude Trichet said Thursday 6 July that the ECB governing council will meet in person on 3 August rather than by teleconference, as it normally does for its early August policy meeting.
Morgan Stanley economist linked to BoE post
AFX News reported on Thursday 6 July that David Miles, managing director and chief UK economist at Morgan Stanley, has been approached to join the Bank of England's Monetary Policy Committee.
BOJ will conduct appropriate policy for economy
Bank of Japan governor Toshihiko Fukui reiterated on Thursday 6 July that the central bank will implement appropriate monetary policy by fully checking economic and price conditions.
Comment: The ECB's gamble
The president of the ECB, Jean-Claude Trichet, has announced that the central bank will take the highly unusually step of meeting in person on 3 August, rather than conduct the scheduled conference call. In doing so, Trichet has effectively pre-announced…
Comment: All eyes on Trichet
All but two of the 43 economists polled by Bloomberg recently expect the European Central Bank (ECB) to keep interest rates at 2.75% this week. All eyes will, however, be on the central bank's president, Jean-Claude Trichet, to see if he alludes to the…
SNB's Jordan on communication in monetary policy
In the speech 'Communication in monetary policy: Experiences of the Swiss National Bank' given on 24 June Thomas Jordan of the Swiss National Bank said central banks have become significantly more transparent about their goals and procedures over the…
Decoding Fed's statements requires experts
According to this article published Sunday 2 July, trying to decipher the Federal Reserve's policy statements can be like trying to understand hieroglyphics.
Japanese cabinet minister backs BOJ rate hike
Japan's Economic and Fiscal Policy minister Kaoru Yosano told public broadcaster NHK conditions are being met for an imminent rate hike by the Bank of Japan.
Riksbank united on rate increase, minutes show
The board of the Swedish Riksbank was unanimous in its 19 June decision to hike the repo rate by 25 basis points to 2.25 pct, according to the minutes of the monetary policy meeting published Monday 3 July.
Fed's 17th increase leaves India with no choice
According to this article published Monday 3 July by Bloomberg, the Reserve Bank of India cannot afford to skip another quarter-point increase in July, with the Federal Reserve boosting rates last week.
Comment: Bernanke's ally
The nomination of Frederic Mishkin to fill one of the two vacant seats on the Fed's board of governors will bolster the chairman, Ben Bernanke, in his attempts to quantify the central bank's inflation objective and move towards a more rule-based monetary…
Report says BOJ likely to start raising rates
The Bank of Japan is expected to start raising interest rates this month or next, a news report said Monday 3 June.
Mishkin nominated to Fed board
US president Bush nominated Frederic Mishkin, a professor at Columbia University, to join the Federal Reserve Board on Friday 30 June.
Jenkins on what monetary policy can & can't do
In the speech 'What monetary policy can and cannot do' given on 29 June Paul Jenkins of the Bank of Canada said the Bank of Canada's economic projections from its April monetary policy report are still reasonable despite a recent string of strong…
Fed raises rates, suggests may be nearing end
The Federal Reserve raised US interest rates to the highest point in more than five years Thursday 29 June and suggested the rate hike cycle may be nearing the end.
ECB paper on monetary policy
The ECB Working Paper "Adaptive learning, persistence, & optimal monetary policy" shows that, when private sector expectations are determined in line with adaptive learning, optimal policy responds persistently to cost-push shocks.
BoE's King criticises MPC appointment process
Bank of England governor Mervyn King on Thursday 29 June took aim at the "very much last minute" way in which members were appointed to the Monetary Policy Committee by Chancellor of the Exchequer Gordon Brown.
Federal Reserve expected to raise rates
Federal Reserve policymakers were widely expected to finish a two-day meeting on Thursday 29 June, by raising US interest rates for the 17th consecutive time to 5.25 percent.