Monetary Policy
ECB’s TLTRO2 eased Italian credit conditions – BoI paper
QE measure lowered loan interest rates while increasing credit quantities, researchers find
Should the ECB add owner-occupied housing costs to its inflation measure?
Yves Mersch argues broader measure of housing costs would give more realistic inflation picture
Bank of Mexico eases again to combat ‘stagnant’ economy
Central bank makes first rate cut since moving to new communications regime
Advanced economies’ inflation more synchronised – Bank of Spain paper
Headline inflation rates are more highly correlated than core inflation, authors find
Bank of Mexico revamps policy communication
Board members allowed to express individual opinions and voting included in policy statements
BIS’s Pereira says green QE could distort market
Central banks should focus on financial stability mandate not green QE, says deputy general manager
Schnabel takes on Germany’s ‘false narratives’ on ECB policy
Criticism based on “half-truths” imperils trust in single monetary policy and “undermines European cohesion”
Bulgaria: long live the currency board
Bulgaria should reject the euro and extend its currency board to cover bank deposits
BoE paper finds heterogeneous policy transmission to firms
Authors say financial frictions “crucial” to understanding monetary policy transmission
Coronavirus is new risk to US outlook – Fed report
Virus risks disruption in China spilling over to the global economy, the Fed says
Fed’s Quarles warns big balance sheet could harm credibility
Fed official proposes tweaks to discount window and G-Sib surcharges to improve monetary framework
Dutch households sharply increased savings in 2019
Higher net incomes and the need to offset lower interest rates behind surge, says DNB
Brazilian MPC cuts policy rate to record low
Central bank forecasts inflation to stay within target range despite recent rises
RBI holds rates as MPC sees diverging inflation and growth
Policy-makers face challenge as inflation climbs and growth disappoints
ECB officials lay out positions on future inflation target
Weidmann and de Cos set priorities as strategy review focuses on inflation measurement and target
Fed’s repo tapering plans hit snag
Banks demand double what was on offer at Fed’s first reduced repo offering
Iceland resumes easing cycle on weaker growth forecasts
Central bank cuts key interest rate by 25 basis points to 2.75%
Thailand cuts rates as coronavirus threatens growth prospects
Central bank lowers interest rates 25bp on concerns outbreak will hamper prices and tourist revenues
IMF praises Rwandan central bank’s progress on inflation targeting
Funding investment will be challenging but inflation should peak early this year, IMF staff say
Rising US rates can be ‘good news’ for EMEs – Fed paper
Researchers examine difference in spillovers from growth- and inflation-driven rate increases
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads
Ukrainian central bank cuts rates as inflation falls within target range
NBU is optimistic on economy, but warns government over IMF deal and banking reforms
Sri Lankan monetary board lowers policy rates
First board meeting under new governor says cut will allow further lowering of market lending rates
Chilean central bank holds rates, citing uncertain outlook
Central bank warns of impact of fall in demand for Chile’s major export as mass protests continue