Operating framework
Former Argentine governor dismisses stabilisation plan
Martin Redrado says monetary base targeting is unsustainable and insufficient to tame inflation
Understanding the Fed’s proposed reserves tool
FOMC hinted at tool for cutting reserves demand at last meeting – the question is, why?
RBNZ faces communication challenges in new policy framework
Some observers think new monetary policy committee may add confusion
Fed should target inflation range – Boston president
Policy is similar to price level and inflation averaging targets, but is easier to explain, Rosengren says
RBI’s Das questions convention of 25-basis point hikes
“Let me try and somewhat shock you,” says governor
Assessing the RBNZ’s new dual mandate
Researchers weigh pros and cons of multiple central banking objectives
RBI to repeat forex swap after high demand for first operation
Second round of long-term liquidity will be on offer in late April
Namibian government proposes to cap its borrowing from central bank
Finance minister asks for five-fold increase to central bank’s capital to pay for new responsibilities
Kenyan High Court strikes down law capping interest rates
But court rules law did not infringe central bank’s mandate and says caps could be brought back
Atlanta’s Bostic lays out case for central banking with ‘ample’ reserves
Floor system has performed well and comes with several benefits, says Atlanta Fed president
RBI swap operation heavily oversubscribed
Unusual move to inject long-term liquidity into the system draws strong demand from the market
Book notes: Floored!, by George Selgin
Michael Reddell remains unconvinced Fed’s introduction of IOR prolonged recession
IMF demands Ecuador end monetary financing
Central bank will need to cover liabilities vis-à-vis banks with international reserves
IMF urges Seychelles central bank to limit forex interventions
Mission chief Amadou Sy urges regulator to remain “vigilant” to inflationary pressures
BIS paper studies high-frequency data on central bank intervention
Sterilised foreign exchange interventions can help to slow credit growth, authors find
NGDP target can create ‘divine coincidence’ – Bullard and Singh
Nominal GDP targeting can “repair” distortions from credit market frictions, authors find
Fed IOER amendment aimed at ‘thwarting’ The Narrow Bank
The move appears to specifically target The Narrow Bank’s business model, the firm says
Bernanke argues for ‘time-limited price targeting’ policy framework
Committing to make up inflation shortfalls in past year would avoid overshooting, paper finds
Monetary policy frameworks need modifying, former Fed governor says
Lower r* requires two key modifications to flexible inflation-targeting regimes, Frederic Mishkin says
Philippine central bank handed new stability powers and mandate
Act removes money supply and credit as determinants for monetary policy
CBRT cuts reserve requirements, but stresses tight stance
Liquidity tools are more about transmission than policy stance, says Murat Çetinkaya
RBNZ adopts new dual policy target
New Zealand’s central bank will now have maximum employment target alongside inflation goal
Jamaica’s Wynter says forex volatility is nothing to worry about
Central bank uses social media to calm markets after forex intervention
PBoC denies that new liquidity tool is a ‘form of QE’
Central bank bills swap is essentially quantitative easing, says one analyst