Operating framework
No change to monetary policy, UK finance minister says
Hammond clarifies comments made by PM, emphasising the government will not be altering BoE mandate
What else can central banks do?
Geneva Report’s plea for more action appears misguided
BoE’s new MPC member suggests tweaks to policy approach
Saunders says models that assume pre-crisis level for equilibrium unemployment may be misleading
UK PM says she will deliver ‘change’ to monetary policy
Theresa May criticises monetary policy for punishing savers
IMF: rise of non-banks is reshaping policy transmission
Pass-through of monetary policy grows as non-banks become more important, study finds
Bank of Canada should not raise inflation target – Obstfeld and co-authors
Central bank has been overtaken in transparency metrics, authors say
Inflation expectations more sensitive near the zero lower bound – IMF study
IMF study examines whether monetary policy can boost inflation in constrained environment
Bank of Israel moves to eight-meeting policy cycle
One member objects to loss of flexibilty
RBA’s Lowe: we are not ‘inflation nutters’
Philip Lowe underscores central bank’s “balanced” approach to inflation in first appearance as governor
BoJ targets inflation overshoot with revamped policy approach
“Yield curve control” could give the central bank more room for manoeuvre on asset purchases
Riksbank highlights complexity in choice of target
Report studies case for changing target to CPIF or HICP inflation
Rajan debunks central banking myths in final address
The RBI "does not have the luxury of economic inconsistency," outgoing governor says
Asset managers becoming key drivers of policy transmission – BIS research
Positions appear to respond more to the Fed than the macroeconomy
Jackson Hole: ECB and NY Fed economists examine ideal operational frameworks for policy
Simon Potter praises paper for in-depth analysis but disagrees on some points
BoE deputy clashes with academics over use of leverage ratio
Paper argues leverage ratio “harms” pass-through of monetary policy
Anticipation effects can make lower bound a self-fulfilling prophecy – BoJ paper
Negative rates have only a small impact on duration, author finds
RBNZ’s Wheeler stands by inflation targeting
Inflation targeting still the “most appropriate” framework for New Zealand
Danish research examines how central banks can impact market liquidity
Price of liquidity tends to change on days when central bank is operating in markets
Chinese authorities should introduce inflation target – IMF staff
Report by IMF staff sets out ‘key elements’ of transition to more market-based monetary framework
BoE bond purchases run into difficulties
Auction ends up undersubscribed despite high price
Reserve Bank of Australia governor backs 2–3% target in final address
Moving the target could open the door to further changes down the line, warns Stevens
Colombian central bank should examine transmission in greater detail – paper
Colombian banks with higher levels of solvency “less sensitive” to changes in interest rate, authors say
Nepal to introduce interest corridor in August
There will be an initial large ‘wedge’ between rates when first introduced, official says
‘Still some flaws’ in transmission mechanism – Icelandic report
Yield curve still "virtually flat" despite capital flow measures