Monetary Policy
Norges Bank's monetary policy conference 2006
On Thursday 30 March, Norges Bank is holding a monetary policy conference in connection with the publication of Norges Bank's Annual Report for 2005.
Bank of Canada raises rates to 3.75%
The Bank of Canada announced Tuesday that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 3/4 per cent.
Japan's Abe says BOJ should be transparent
Japan's top government spokesman said on Tuesday 7 March that it was important that the Bank of Japan's monetary policy is transparent.
Comment: Busy week for policymakers
This week is a busy one for monetary policymakers, with policy meetings taking place in Japan, the United Kingdom, Canada, Australia, New Zealand and Indonesia. Here is a brief look at what's been on the mind of central bankers in these countries.
Comment: BoJ to end QE this week?
Friday's inflation data has added to feverish speculation that the Bank of Japan (BoJ) will end its "quantitative easing" policy later this week. However, the departure from its zero-interest rate policy is still months off and the question of the…
Yosano not sure to give view at BOJ meeting
Japanese economy and banking minister Kaoru Yosano said on Friday 3 March that the Bank of Japan should decide when to end its quantitative easing policy and that he wasn't sure if the government would give its view at the BOJ's upcoming meetings.
BOJ set to end ultra-easy policy - report
Senior Bank of Japan officials have decided to submit a proposal to end the central bank's super-loose monetary policy at next week's BOJ board meeting, two Japanese news agencies reported on Friday 3 March.
Monetary policy by committee: Why and how?
In this De Nederlandsche Bank Working Paper, published February 2006, Alan Blinder discusses two questions: Why have so many central banks switched from individual to group decision making, and how?
ECB raises rates, says more rises are possible
The European Central Bank raised its benchmark interest rate on Thursday 2 March for the second time in three months and suggested more hikes are possible as economic growth and inflation accelerate.
Report says BOJ considering 'reference rate'
The Bank of Japan is considering setting a 'reference rate' on inflation to guide markets on its monetary policy intentions, Jiji Press and other media reported.
Japan's PM says govt would tolerate BOJ shift
Japanese Prime Minister Junichiro Koizumi indicated on Monday 27 February that the government would be prepared to tolerate a move by the Bank of Japan in lifting its ultra-easy policy as early as March.
BoE voted 8-1 to hold rates
The Bank of England's policy-making Monetary Policy Committee voted 8-1 to keep UK interest rates unchanged this month, with Stephen Nickell again as the sole member calling for a reduction.
Fed can't rule out more rate rises
Minutes from the Federal Reserve's 31 January FOMC meeting released on Tuesday 21 February showed Fed officials felt a 14th straight increase in interest rates last month put borrowing costs near where they needed to be, but they could not rule out more…
IMF Paper on forecasting ECB monetary policy
Monetary policy in the euro area is conducted within a multicountry, multicultural, and multilingual context involving multiple central banking traditions. This IMF Working Paper published February 2006 asks how this heterogeneity affects the ability of…
Garganas says eurozone inflation risks increased
Greek central bank governor Nicholas Garganas said on Friday 17 February that since December's hike in eurozone interest rates, inflation pressures have increased, partly due to rising oil prices.
St Louis Fed's Poole on inflation targeting
In the speech 'Inflation targeting' given on 16 February William Poole of the Federal Reserve Bank of St. Louis said an explicit inflation target would help the Federal Reserve do a better job of anchoring expectations and ensuring low and stable prices.
Fed's Pianalto says growth, stability go together
Cleveland Fed president Sandra Pianalto said Thursday 16 February that the Federal Reserve's twin objectives of price stability and growth go hand in hand.
Comment: Inflation targetting
A number of emerging market economies have encountered problems in the early stages of inflation targetting. The latest to hit some bumps in the road in is the National Bank of Romania.
Romania to keep 2006 inflation target
The National Bank of Romania this week published its third inflation report since adopting inflation targetting in August last year. Despite forecasts suggesting that inflation will overshoot the upper limit of this year's target, the central bank has…
The Bank of Japan’s high-wire act
An end to deflation is in sight, but Japan’s monetary-policy makers still fear the dangers of a collapse of the yen and of the bond markets, says Andrew Smithers.
Reflections on central banking
How has central banking changed in the past generation? Alan Greenspan gave his considered views at Jackson Hole in August 2005.
Greenspan’s legacy
Allan Meltzer explains how Alan Greenspan’s leadership of the Fed has re-written the rules of monetary-policy making.
Federal Reserve's Monetary Policy Report, Feb 2006
The Federal Reserve published its February 2006 Monetary Policy Report to the Congress on Wednesday 15 February. The U.S. economy should continue to perform well in 2006 and 2007. But higher energy prices will probably exert some restraint on activity…
Bernanke says more rate rises 'may' be necessary
Ben Bernanke told Congress on Wednesday 15 February that more US rate hikes "may" be necessary as the threat of higher inflation persists despite a year-and-a-half of steady tightening.