Operating framework
Bulgaria: long live the currency board
Bulgaria should reject the euro and extend its currency board to cover bank deposits
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
Should the ECB increase the transparency of governing council meetings?
Observers and former officials weigh pros and cons of greater disclosure for policy efficacy and independence
Optimal US reserve regime is between scarcity and abundance – research
Former NY Fed official Simon Potter and co-authors map post-crisis demand curve for reserves
Atlanta Fed research offers 17th century lessons for proposed standing repo facility
Crises can pose demand and credibility challenges, researchers warn
Fed slims down repo market interventions
Relative to year-end, the Fed will cut $250 billion of the cash offered to banks
Central banks must learn lessons of BoJ’s inflation target rise – Fed paper
Failure to hit old targets and disagreement among policy-makers will harm credibility, paper argues
Carney launches review of BoE monetary policy
“Deep structural changes” have left little space for conventional tools to work, governor says
Phillips curve still explains eurozone inflation movements – research
Results may become a focal point of debate in the forthcoming ECB strategy review
Bernanke offers ideas for Fed’s policy framework review
Unconventional policies are “preferable” to raising inflation target and can still be enhanced, Bernanke argues
Fed avoids year-end cash crunch
Repo market shows barely a ripple over New Year’s Eve after Fed injects a quarter of a trillion dollars
Central bankers in favour of climate change goals in mandates
Central Banking’s Climate Risk Summit shows community rapidly embracing green policies
New York Fed expands year-end repo operations
More cash to be made available both overnight and in term repos
PBoC’s monetary policy framework not likely to change – RBA research
Institutional structure prevents alignment with international peers
Mauritius to roll out forward-looking policy framework
New monetary policy operating framework will look to smooth yield curve
Greater exchange rate flexibility warranted in Peru – IMF
Limiting interventions would help reduce dollarisation further, says fund
Swedish MPs propose dual mandate for Riksbank
Proposals aim to redefine institution’s role in monetary policy, financial stability and payments
Fed’s Brainard calls for major framework overhaul
Yield curve caps, flexible inflation targeting and more active macro-prudential policy could help, governor says
Will the Fed pass its year-end funding test?
An unprecedented rate spike in September prompted the Fed to inject billions into funding markets
FOMC considering repo market tools, minutes show
Meeting participants worried that standing repo tool might create moral hazard
ECB says new eurozone benchmark successfully introduced
Data shows September rate cut fully passed through to new €STR benchmark, ECB says
Fed considering tools to help flow of reserves in the system
Remarks are some of the most detailed Jerome Powell has made on financial plumbing issues
Fed likely to ‘institutionalise’ policy framework review, Powell says
Move would likely be akin to the Bank of Canada’s routine five-year review
Fed researchers aim to address uncertainty over demand for reserves
Demand for reserves could be between $712 billion and $919 billion, researchers find