Operating framework
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
Icelandic leaders clash on possible peg
Prime minister challenges finance minister’s assertion that the krona needs to be pegged
Daily open market operations paying off – National Bank of Denmark
Introduction of daily open market operations has smoothed liquidity management
Tanzanian central bank slashes discount rate
Central bank cuts discount rate for the first time since 2013, from 16% to 12%
Ending speculation on the Czech forex cap: quo vadis, CNB?
David Vavra suggests a method the Czech National Bank could use to end pressure on its peg
Iran needs to overhaul monetary operating framework – IMF
Absence of policy rate and emergency lending facilities is creating instability, fund warns
Kazakhstan’s long path to inflation targeting
After a slow start, IT implementation is starting to mature, says technical assistance veteran
Basel III LCR affects RBI monetary operations – paper
Liquidity coverage ratio affects the central bank’s operational target
PBoC’s hike signals policy management shift
Hui Feng argues the rate move signals a move to market-based tightening
Fed’s Mester says public should not hold policymakers to ‘unrealistic account’
Monetary policy cannot and should not be used to spur productivity growth
IMF gives thumbs up to Indonesia’s new monetary operating framework
Interest rate corridor and switch to new policy rate has improved monetary policy transmission, early data shows