Operating framework
Mozambique central bank praised for monetary framework overhaul
IMF staff approve of changes made towards interest rate corridor
IMF praises Madagascar’s approach to monetary framework change
Madagascan central bank to introduce overnight deposit facility to form basis of interest rate corridor
Kganyago says public protector’s response was ‘not good enough’
Response to central bank’s challenge exposed Mkhwebane’s “own lack of competency”, Sarb governor says
Credibility essential to Central Bank of Brazil success, says IMF
Further changes to inflation target could limit future policy space, fund advises
Public protector backs down over Sarb mandate challenge
Mkhwebane admits she lacks power to suggest parliament make changes to the constitution
Sarb to increase engagement on monetary policy
Governor says central bank officials should be ones to outline “sensible” view of monetary policy
Indonesian banks will switch to reserves averaging in July
Latest move in Bank Indonesia’s major overhaul of monetary policy transmission
Chicago Fed’s Evans: central bankers may be biased against inflation
Chicago president thinks current policymakers may have overcompensated for inflationary bias of past
Yellen willing to reassess 2% target
Fed chair says question of right target level is one of the most important facing central banks today
Yellen told inflation target needs revising
Economists say current economic conditions call for a revision in the inflation target
Chinese monetary policy now more in line with G3 central banks – BIS paper
“Liberalisation and transformation” of the Chinese economy has led to changes in the PBoC’s policy approach
Inflation targeting three decades on
Former RBNZ governor on the costs and benefits of explicit targets
Inflation is preventing interest rates from rising faster, says Powell
Labour market progress points towards a faster pace of normalisation for the Fed
Policy rate forecasts influence expectations – Riksbank paper
New data allows researcher to assess “potency” of rate forecasts
Flexible exchange rate aids those hit by commodity shock, IMF report says
Countries that allow local currency to depreciate suffer less pain, IMF says
Riksbank proposes changes to inflation target
Central bank plans to use variable to avoid short-term distortions, and to reinstate band around target
The BoJ’s risky yield curve control experiment
Current objectives are muddled, writes former policy board member
John Williams backs move to price-level targeting
San Francisco Fed chief says inflation targeting is losing its effectiveness
BoJ should provide ‘more realistic’ projections – former policy board member
Claims constant overestimation of inflation expectations undermines credibility
Should more attention be paid to house prices?
CNB experience offers insights into use of larger weights for housing in monetary and macro-pru policy
Bank of Jamaica outlines plans to become ‘modern’ central bank
Initiatives to implement inflation-targeting framework and liberalise forex rate already under way
Monetary policy has inevitable fiscal effects – Willem Buiter
Former Bank of England official rails against fiscal theory of price level in speech to RBI
RBI makes fresh amendments to liquidity framework
Central bank asks government for new tools
BIS report: build liquidity co‑operation early to prepare for crisis
CGFS report urges central banks to build networks domestically and across borders