Operating framework
Inflation targets may have to rise, new study finds
Optimal policy would see targets rise by roughly the same amount as the decline in neutral rates
RBI makes fresh bid to boost transmission mechanism
Banks mandated to link floating-rate loans to an external benchmark
Fed economists propose alternative to floor system
Pre-crisis BoE framework may preclude need for further ‘technical adjustments’, researchers say
Argentine governor demands political consensus on macroeconomic framework
Sandleris says every election unleashes market volatility and disrupts stabilisation efforts
Hong Kong introduces resolution facility after FSB peer review
Updated funding framework could aid embattled banks in case of liquidity crunch
RBNZ takes further steps to improve regulation and oversight
Regulators’ new “vision” incorporates climate change and social inclusion
PBoC reforms rates mechanism in bid to cut funding costs
Loan prime rate will replace existing benchmark lending rates
Central banking’s 30-year cycle
Central banking has hit another crossroads, writes Central Banking founder Robert Pringle
South Africa’s broad inflation target range ‘a mistake’, says Kganyago
Sarb governor complains that ownership debate is damaging country’s economy
IMF calls on Brazilian legislators to pass central bank independence law
Staff welcomes new law blocking central bank transfers to the Treasury from reserves revaluations
BoE’s Hauser sheds light on ‘quantitative tightening’ in the UK
Central banks have a greater obligation to provide liquidity in good times and bad, official says
Doves vs hawks: IMF advice on unconventional monetary policy
Funds’ advice on innovative measures has not always “stood the test of time”, writes Philip Turner
BIS says theory behind EME policy must catch up with ‘reality’
Situation is similar to adoption of inflation targeting in early 1990s, says BIS annual report
BoJ moves quietly away from negative rate
BoJ reduces number of current account balances charged a negative interest rate
CBRT cuts rates for primary dealers
New liquidity facility designed to contribute towards financial market deepening, central bank says
SNB replaces Libor with new reference rate
Future of Libor is “not guaranteed” and underlying volume is “dwindling”, says Thomas Jordan
Zimbabwe reaches IMF agreement to deal with currency crisis
‘RTGS dollar’ will be supported by advice from IMF programme
Potential Fed nominee wants changes to interest rate policy
IOER hurts private sector entrepreneurialism and gives banks wrong incentive, Judy Shelton says
Senior Fed officials call for overshooting inflation target
Kashkari says Fed acted too early in tightening while Brainard says policy must meet ‘new normal’
Risk of hitting ZLB in next three years is low – San Francisco Fed paper
ZLB should not be a concern for monetary policy at this stage, researcher says
Minneapolis Fed president calls on Fed to ‘re-tool’ labour market analysis
Wages are a better means of estimating labour market slack, Kashkari says
San Francisco Fed researcher seeks to improve Phillips curve
Introducing an “interaction variable” can increase predictive performance, researcher says
Williams favours average inflation targeting in new research
New York Fed president analyses three groups of inflation-targeting regimes
Turkish central bank defends reserves-boosting swaps activity
Swaps provide support for banks amid offshore Turkish lira liquidity squeeze, central bank says