Operating framework
Negative interest rates are last resort – BdF governor
Villeroy de Galhau outlines “order of operations” for deploying monetary policy tools
BoE’s Greene defends new balance sheet strategy
Cross-border arbitrage of central bank facilities a “feature, not a bug”, says MPC member
ECB to move to ‘hybrid’ balance sheet model – Finland’s Välimäki
Bank of Finland board member heralds “new dawn” of Eurosystem monetary policy implementation
Average inflation targeting raised post-Covid prices in US – study
Dallas Fed research argues Fait framework contributed to surging prices
Kganyago continues push to lower Sarb inflation target
Economists back South Africa’s central bank governor, but finance minister remains sceptical
Australia moves forward with ‘ample reserves’ framework
RBA raises price of short-term repo and encourages lenders to recycle liquidity in private markets
PBoC tweaks lending facility as framework reform continues
Chinese central bank phases out MLF’s role in monetary policy by allowing dynamic pricing
ECB tells lenders to regularly tap central bank liquidity
Banks should include refinancing operations in day-to-day liquidity management, say Buch and Schnabel
Forward guidance ‘partly to blame’ for inflation – panel
ECB should do more scenario planning, revise collateral rules and incorporate Taylor principles
ECB framework needs ‘few tweaks’ – panellists
Digital euro is “even more important” in the wake of Trump CBDC ban, says BdF governor
Bank of Canada cuts rates by 25 basis points
Monetary policy “cannot offset the impacts of a trade war”, says central bank
Focus on rates for policy, keep QE for crises – Carstens
BIS general manager says expanding objectives could “undermine credibility and independence”
Bank of Uganda to make rate decisions quarterly
Central bank lowers frequency of policy meetings from six times a year
ECB president says bank can return to adjustable policy horizon
Households do not perceive how their incomes have risen, which harms growth, says Lagarde
BoE reveals details of ‘repo-led’ operations
Bank to offer more liquidity via longer-term facility but retain “variable price, variable size” format
Exact inflation at 2% not ‘realistic, nor necessary’ – BdF governor
Villeroy de Galhau says central banks should advocate for structural policies
Thai government and BoT agree to keep inflation target intact
Central bank and government reach price goal consensus despite a year of tensions
PBoC launches new reverse repo operations
Injections via new liquidity tool could help offset maturing central bank loans to banks in fourth quarter
Interpreting the PBoC’s slew of policy reforms
How are new stimulus measures, bond market tactics, deflationary pressures and monetary policy framework changes affecting central banking in China?
Long-term repo set for bigger role in BoE operations
Executive director Victoria Saporta outlines “major change in operating practice”
PBoC to start borrowing government bonds as yields fall
Analysts expect central bank to sell in secondary market to stabilise yields