Operating framework
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
Bank of Tokyo abandons JGB primary dealer role
Bank of Tokyo-Mitsubishi UFJ steps back from role citing “business optimisation”
RBNZ bulletin shines light on policy-making process
Article digs into nine-day process of deliberation and communication
Orphanides: governments should rein in ‘immense power’ of central banks
Central banks can dramatically influence the distribution of wealth, economist argues
Balance sheet policy matters for credibility – Norges Bank paper
Researcher argues a central bank’s financial strength may affect its ability to meet its mandate
Rate delay could deprive Fed of tools in future, warns Mester
Cleveland Fed president warns public could deem unconventional tools “ultimately ineffective”
Bhutan readies to sharpen ‘blunt’ policy instruments
Royal Monetary Authority of Bhutan considering improvements to monetary policy transmission
Reserve Bank of Malawi to improve monetary policy architecture
Bank moves towards fully fledged inflation targeting, embracing interest rate-based framework
Rajan has left his mark but risk of fiscal dominance remains
Vishrut Kansal argues more safeguards are needed if the RBI is to avoid fiscal dominance