Monetary Policy
Rehn says ECB should adopt average inflation targeting
Finnish governor says current target has “asymmetric downward bias”
Phillipines central bank says new website has improved comms
BSP says website’s mobile-friendly design and chatbot has boosted effectiveness
Sveriges Riksbank announces big QE boost
Swedish central bank increases size, scope and duration of asset purchases
Olli Rehn on AIT, market neutrality and EU fiscal policies
Finnish governor speaks about the ECB’s strategy review, climate change and lessons from the eurozone crisis
RBNZ considers greater focus on house prices in MPC decisions
Government is concerned house price rises are excluding people from the market
Excess liquidity can weaken policy transmission – BoE paper
“Novel dataset” sheds light on possible unintended consequences of crisis-fighting measures
RBNZ launches review of accidental disclosure
Information on new funding for lending programme was released before policy was officially unveiled
Ghana recovering faster than expected, says governor Addison
Growth has bounced back to double figures and inflation expected to hit target by mid-2021
Is there a path between the Covid abyss and chasm of financial risk?
Policy-makers may be asking too much from macro-prudential policies
New Turkish governor presides over sharp rate rise
Erdoğan changes rhetoric to say country must be prepared to swallow “bitter pill” to beat inflation
Fed and US Treasury in public dispute over emergency aid
Fed disagrees with Treasury secretary over proposal to end five stimulus programmes
Philippines central bank makes unexpected rate cut
Inflationary pressures are low and cut will boost confidence, central bank says
Kganyago says Sarb needs support from fiscal and macro policy
Governor says monetary policy cannot improve South Africa’s growth alone
Lower r* demands new ECB inflation target – economists
Average inflation targeting is one possible alternative, says Jordi Galí
Zambia MPC holds rates despite stability concerns
New governor notes a cut to interest rates would have been “expected”
Iceland cuts rates to new record low of 0.75%
Central bank revises down 2020 GDP forecasts by more than one percentage point to -8.5%
Egyptian central bank cuts policy rate again
Move is needed to support economy against second Covid-19 wave despite rising inflation, MPC says
Book notes: The great demographic reversal, by Charles Goodhart and Manoj Pradhan
An important book, predicting that powerful demographic forces will upend conventional thinking
RBNZ launches funding for lending programme
Central bank avoids taking rates negative but says the policy remains an option
Lagarde signals Covid-19 stimulus will remain active for longer
Asset purchases and bank lending programmes will be key ECB tools; rate cut not mentioned
Weak banks could reverse effects of policy rate cuts – ECB paper
Countercyclical buffers play crucial role in preventing “reversal interest rate” events, researchers find
Turkish finance minister quits after president fires governor
Finance minister resigns before new governor signals he will consider raising policy rates
Riksbank publishes list of companies eligible for bond purchases
List includes 50 companies and will be updated on the first weekday of the month
Malawi’s central bank cuts interest rates as inflation outlook improves
Central bank projects annual inflation to fall below 9% this year