Unconventional monetary policy
The new era of money supply and its impact on policy
The empirical relationship between money and inflation has changed, writes Manmohan Singh, with Apoorv Bhargava and Peter Stella
ECB rate-setters ‘broadly agree’ with loose policy
Governing council members warned financing conditions were still tighter than in December 2020
RBI set to launch second round of asset purchases
Indian central bank seeks to curb borrowing costs amid severe Covid-19 outbreak
Fed must clarify future of QE, IMF says
IMF warns that rising longer-term Treasury yields could have major impact
ECB watchers say divisions on council could hamper decision-making
Analysts say central bank’s strategy of lower purchases could be tested later in 2021
Is the ECB implementing yield curve control?
Eurozone has adopted hybrid system that targets wider financing conditions
Sweden’s pension funds curb inequality, official says
Riksbank’s Ohlsson says collective funds mean high asset prices benefit wider population
Book notes: Central banks as fiscal players, by Willem Buiter
Buiter puts a real economic problem into a convincing theoretical frame, and translates it into applicable policy advice
ECB weekly asset purchases raised to €21.1 billion
On March 11, central bank promised to conduct purchases “at a significantly higher pace”
Lagarde highlights uncertain outlook due to vaccination
ECB ready to adjust policy tools to ensure inflation increases towards target
Lagarde expected to clarify ECB bond-buying plans
ECB has lowered purchases as yields have risen and spreads have increased
Bank of Korea to expand government bond purchases
South Korean central bank vows to buy more government bonds amid turbulence
Covid-19 reveals systemic flaws – Brainard
Fed board member weighs impact of March 2020 crisis in money markets, warning some risks remain
French governor calls for ECB to make radical carbon shift
ECB is not sufficiently accounting for exposure to climate risk, says Villeroy de Galhau
Reserve Bank of Australia launches A$100bn in new QE
Australian central bank surprises analysts with easing measure, despite more hopeful macroeconomic forecast
Riksbank to increase risk buffer
Swedish central bank concerned about future effects of asset purchases on balance sheet
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields
IMF’s Adrian weighs balance between stimulus and stability
Central banks need to incorporate macro-financial stability in decision-making processes, he says
Whither the age of ‘magic money’?
EME central banks are more exposed at a time of ‘close to free lunch’ money
ECB adds crucial tweak that could limit PEPP purchases
Hawkish governors secured wording that bond-buying allocation “need not be used in full”
ECB set to boost QE purchases and extend duration of stimulus
Eurozone central bank is widely expected to increase emergency asset purchases by around €500 billion on December 10
BoE’s Saunders mulls dual interest rates for UK
Funding banks at less than the policy rate could be a useful tool, MPC member says
Riksbank stresses pandemic’s unpredictability
Two board members thought it unnecessary to increase asset purchases, minutes show
ECB’s asset buying should drop ‘market neutrality’ – Rehn
Finnish governor says ECB should adopt green principles, but Bundesbank’s Weidmann is opposed