Operating framework
Minister: RBNZ must support government housing objectives
New Zealand’s finance and deputy prime minister changes central bank’s monetary and financial policy remits
SNB should adopt higher inflation target, report says
Senior economists recommend the Swiss National Bank reviews its policy strategy
European central bankers see room for fiscal-monetary co-operation
Pandemic showed it was “critical” for both policies to work together, say central bank governors
RBI paper tracks impact of rising transparency on expectations
Research uses text mining to study changing degree of transparency at the RBI
BoE must improve understanding of QE – report
Lack of understanding has prevented BoE’s ability to build public trust in new policy tool, report says
BoE’s Tenreyro says negative rates likely to work in UK
Looser monetary policy might help limit “scarring” to the economy, says MPC member
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor says ECB ready to boost stimulus and Basel reforms not diminished by Covid-19 exceptions
BoE’s Bailey explores future of balance sheet policy
Question of whether QE is “state contingent” could impact how it is deployed through the cycle
BoE’s inflation target may hamper response to no-deal Brexit – IMF
Report urges BoE to bolster market communication in the event no deal is reached
Fed faces longer-term challenges under new policy strategy
Steve Kamin warns central bank may not have paid enough attention to why r* has fallen
Ingves: Riksbank must have flexibility to develop new policy tools
Governor warns inquiry into central bank “clings” to an outdated view of economics
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan
The dawn of average inflation targeting
Failure to explain how the Fed calculates its ‘average’ for AIT creates risks
Brazil central bank could ‘test’ lower rates if inflation remains weak – IMF
IMF staff see “no constraint” to lower rates as long as forward guidance is deployed
BoE prepares to launch sharia-compliant liquidity facility
Special-purpose vehicle will be structured as a ‘wakalah’ or fund-based liquidity facility
Rehn says ECB should adopt average inflation targeting
Finnish governor says current target has “asymmetric downward bias”
RBNZ considers greater focus on house prices in MPC decisions
Government is concerned house price rises are excluding people from the market
Lower r* demands new ECB inflation target – economists
Average inflation targeting is one possible alternative, says Jordi Galí
IMF staff suggest review of Mexico’s inflation target
Mexican government needs to abandon restrictive fiscal policy, many IMF directors say
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
SF Fed’s Daly calls for major action on US inequality
Fed can use new policy framework to cut inequality but Federal government must do more, says Daly
Fed’s new framework splits opinion
Former Fed staff offer mixed reactions to AIT; most call for more refined communication
Beyond climate: addressing the ‘E’ in ESG
Environmental degradation raises fundamental questions about how central banks think about risk
BIS’s Borio: natural rate puts central banks in ‘straitjacket’
Official urges policy-makers to take “broader view” of the costs and benefits of monetary policy