Monetary Policy
Central banks should use direct lending in shocks – BIS paper
Lending to firms directly could reduce welfare loss during financial shocks, researchers say
ECB’s asset purchases didn’t always stimulate bank lending – research
Sounder banks reduced lending to non-financial firms, Bundesbank paper finds
Rate cuts support Australia’s economy – RBA assistant governor
RBA cuts rates to record lows in two successive months as GDP growth slows
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats
IMF sets up new monetary policy modelling unit
Fund responds to criticism from IEO report
Shekel’s strength clouds Bank of Israel’s inflation outlook
Economists ponder whether central bank actions contribute to lower prices and what priorities it should consider in the near future
Australia could reach zero lower bound, says Lowe
Governor says RBA is open to unconventional monetary policy
Serbia cuts rates to record low due to falling inflation
Executive board highlights slowdown in global trade, growth and looser policies in major economies
Mauritius cuts rates to record low
Central bank cites China-US trade war, Brexit and falling inflation
Belarus cuts rates to record low as growth falters
National Bank of Belarus has cut rates 15 times since 2016; ponders IMF assistance
Philippines cuts key rates and hints at more easing
BSP governor indicates more easing likely this year as inflation stays under control; RRR cuts also possible
The future of balance sheet policies
Central banks are expected to resort to a range of balance sheet activities to fight the next downturn. William Towning investigates what tactics they may deploy
Thailand unexpectedly cuts rates
Bank of Thailand delivers surprise 25bp cut; move follows PBoC allowing RMB to fall through seven to the US dollar
RBI implements fourth rate cut of the year
Central bank reduces interest rates by 35bp to 5.4%, as it lowers growth forecasts
RBNZ surprises markets with 50bp rate cut
New Zealand central bank reduces interest rates to record-low of 1% on weaker growth projections
RBA lowers growth and inflation forecasts
Australian governor says central bank is ready to cut rates further from record-low 1%
Turkey increases reserve requirements on forex deposits
Authorities aim to discourage citizens from transferring their assets into other currencies, weakening the lira
Jordan cuts rates for first time in four years
Central bank stresses country’s struggle with low inflation
Mexican president pressures central bank to focus on growth
Bank of Mexico should cut interest rates “to kickstart the economy”, says Andrés Manuel López Obrador
HKMA cuts rate by 25bp after Fed easing
Hong Kong cuts rates for the first time in more than a decade to avoid pressure on the peg
Four Gulf states cut rates following Fed decision
Bahrain, Qatar, Saudi Arabia and UAE have currencies pegged to US dollar
Dominican Republic’s central bank cuts rates again
Caribbean nation’s central bank cuts rates as inflation continues to fall well below target range
Carney issues sharp warning over Brexit
MPC says future inflation path is unclear as governor says uncertainty is damaging economy
Bank of Israel unlikely to raise rates in the near future, says governor
Israel sees monthly inflation drop below target range