Operating framework
OECD urges RBA to review policy framework
Recommendation comes just weeks after governor dismissed the idea
Canadian governor outlines next phase of policy
Governor says Bank of Canada will keep asset holdings unchanged in “reinvestment phase”
Danish central bank positive on ECB strategy review
New 2% symmetric target could boost inflation; climate change may impact price and financial stability
Too great expectations from the ECB’s strategy review
The review process represents operational best practice, but will fail to unify the Governing Council
Is the ECB’s strategy review enough?
Reformed framework may allow greater stimulus to tackle weak inflation expectations, but Governing Council is already divided
New forward guidance is “elemental” for ECB strategy, Lane says
Chief economist implicitly disagrees with Belgian governor’s criticism of new wording
RBA governor dismisses calls for policy review
Opposition politician criticises central bank for frequently missing inflation target
No one monetary policy target optimal – Bank of Canada paper
Flexible inflation targeting one of best performers in “horse race” with other options
An assessment of the ECB’s strategy review
Aspects of the framework raise challenges for implementation and credibility, while climate change inclusion may politicise the institution
The distant cry of hawks? Fed begins tightening talk
Richard Clarida gives a date for hiking interest rates, as debate on taper timing continues
Fed reverse repo demand tops $1 trillion
New York Fed facility sets latest in series of record volumes
Liberia’s central bank expands monetary policy committee
Governor and deputy governor reappointed
Central Bank of Hungary adopts green monetary policy
Policy sees central bank launch green mortgage bond purchase programme
Kenyan central bank prepares further monetary policy reforms
Review recommends action to improve modelling, boost interbank market and develop education
The ECB’s monetary policy strategy review
Otmar Issing offers some initial perspectives on the ECB’s strategy review
ECB’s new target not expected to influence Denmark’s policy
Danish central bank agrees with ECB that climate change may impact price and financial stability
New inflation target set to bind ECB to ‘lower for longer’ strategy
Symmetric 2% target should allow council to boost APP purchases as Pepp is phased out, say analysts
ECB adopts 2% symmetric inflation target
Central bank chooses not to follow Federal Reserve’s lead on average inflation targeting
ECB likely to shy away from AIT in new monetary policy framework
Symmetric 2% target is expected outcome; council members struggle to agree on forward guidance
Charles Goodhart on inflation targets, financial stability and the role of money
LSE professor says AIT a mistake, independence under threat amid inflation surge and climate stress tests unconvincing
Demand for Fed’s reverse repo hits new record
FOMC increases interest rates on RRP deposits by 5bp, spurring new demand
Fed adopts single interest rate for reserves
Amendment eliminates separate figure for excess reserves
‘Run it hot’: the risks and rewards of a new policy era
Covid-19 has added impetus to an emerging intellectual shift in policy-making. But central banks face unresolved issues
Fed’s Quarles says time is coming for taper talk
St Louis Fed’s Bullard says it is “too early” to talk of tapering asset purchases