Monetary Policy
Monetary policy may have counterintuitive housing price effects – research
Researchers from the Dallas Fed say indirect effects may undercut policy’s aims
Two Fed governors say there is no need for rapid rate cuts
Cook and Waller call for caution but welcome some labour market developments
RBA to shift to “ample reserves” operational framework
New approach will be simpler to operate and reduce market volatility risk, assistant governor Kent says
Federal Reserve posts largest operating loss ever
As of March 21, the Fed owed $157.8 billion to an accounting device, a “deferred asset”
Rates round-up: Hungary and Moldova cut rates
Sweden holds rates but lowers inflation forecast
Digital money could boost Pacific island economies – IMF research
Loss of correspondent banking relationships may be offset by digital money infrastructure
Anchoring inflation expectations increases FDI – research
Adopting inflation targeting also increases investment, researchers find
ECB economists highlight smooth quantitative tightening
Foreign investors are largest euro area securities holders, but households are buying more
Switch to gold standard could stabilise prices – Philadelphia Fed research
Hypothetical return to monetary system would only lead to short-term price movements, study finds
Policy round-up: Switzerland and Czech Republic cut rates
Norges Bank holds rates in face of uncertainty
RBNZ should focus on fewer labour market indicators – paper
Researcher proposes using ‘high-quality’ indicators to monitor inflationary pressure
Banxico cuts rates by 25bp
Mexican central bank says risks are tilted to the upside
Central Bank of Brazil cuts rate by 50bp
Copom says it expects to do the same at its next meeting in May
BoE holds policy rate as MPC flags persistent inflation
Headline price rises forecast to drop below 2% within months, but wage growth remains high
Taiwanese central bank unexpectedly raises rates
Rate-setters warn of potential rise in inflationary expectations amid stronger growth
Monetary policy should account for energy shocks, says study
Energy price hikes may cause spiral of higher unemployment and lower spending, paper says
FOMC holds rates again
Experts say Federal Reserve faces difficult choices despite easing inflation
Bank Indonesia holds rate
Governor pledges continued interventions to support rupiah amid low inflation
PBoC keeps benchmark rates unchanged
Markets expected decision to hold one-year and five-year loan prime rates
Chinese authorities reshuffle monetary policy committee
Four new members include securities regulator, PBoC deputy governor and two academics
Pakistan holds rates despite high inflation
MPC says country needs continuing tight policy, fiscal discipline and foreign financing
BoJ ends negative interest rate policy
Japanese central bank also scraps yield curve control policy and ends ETF purchases
Carstens calls for ‘greater realism’ on what policy can deliver
Monetary policy should avoid “excessive fine-tuning”, BIS chief says