Monetary Policy
ECB maintains high rate of bond purchases
Lagarde says eurozone inflation likely to rise in autumn but fall at start of 2022
Ailing Suriname floats its currency
Defaulting country holds debt talks as inflation and corruption take toll
IMF sees scope for unconventional monetary policy in Thailand
Yield curve control with forward guidance might be the best option for BoT, fund says
ECB poised to clarify tapering of PEPP purchases
Analysts agree central bank views higher inflation as transitory and will maintain rate of purchases
Yellen: ‘slightly higher interest rate’ would be fine
Treasury secretary says US should push forward with spending plans
ECB policy paper says unconventional policy worked
Paper says QE purchases explain “lion’s share” of changes to eurozone yield curves
RBI doubles size of quantitative easing programme
Central bank readies additional 1.2 trillion rupee purchase programme as virus “dents” demand
Weidmann drops opposition to ‘greening’ ECB bond holdings
Bundesbank president says ECB could limit purchases of corporate bonds from some sectors
Fed adopts single interest rate for reserves
Amendment eliminates separate figure for excess reserves
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues
Ghana’s central bank cuts interest rates to 13.5%
Inflationary pressures have all but disappeared, central bank says
New York Fed announces record use of reverse repo facility
Value of transactions exceeds December peak and number of counterparties nearly doubles
Mexican board members concerned by inflation, minutes show
Bank of Mexico board held rates at 4% in spite of 6.1% year-on-year inflation in April
RBI faces dilemma from US policy spillovers – BIS paper
Authors highlight evidence of “contractionary devaluation” when US monetary policy tightens
Fed’s Quarles says time is coming for taper talk
St Louis Fed’s Bullard says it is “too early” to talk of tapering asset purchases
A return of the inflation monster?
Fears grow over the intellectual shift to running economies ‘hot’
ECB should adopt symmetric 2% target with AIT – US economist
Academics say ECB’s new policy framework needs to react more quickly to inflation changes
Communication needs to be adapted for different audiences – RBA research
Producing information in different formats may improve success of economic communication
Firms are ‘inattentive’ to inflation and monetary policy – NBER paper
Authors present new survey data indicating firms’ expectations are “anything but anchored”
BoE unveils plan to ‘green’ its corporate bond-buying
Hauser says BoE will “tilt” bond purchases and might insist on full climate disclosure by issuers
Summers steps up attacks on Fed inflation stance
Inflation hawk warns of “complacency” after April CPI hike, but FOMC members have stood firm
Icelandic central bank hikes rate as inflation climbs
Central bank faces trade-off as unemployment remains high
Book notes: Quantitative easing, by Jonathan Ashworth
Well-documented and comprehensive book for anyone wanting overview of monetary policy evolution over recent decades
German court dismisses challenge to ECB bond-buying
Constitutional court ends long-running challenge to asset purchase programme