Monetary Policy
Foreign monetary policy affects French and Italian lending – researchers
US policy especially significant, Banque de France paper finds
Policies must change to stop emerging markets crisis, analysts say
Tariffs, Fed policy and renminbi devaluation are stressing weaker currencies, say observers
Indonesian central bank hikes rates as global volatility hits rupiah
Forex interventions cut reserves by 11% between January and July 2018
Turkish central bank raises overnight rates in bid to stop lira’s fall
Move comes despite president Erdoğan’s hostility to rate hikes; banking authority also acts
Negative policy rates increases risk-taking by high-deposit banks - ECB paper
Eurozone banks with high deposit levels have changed lending patterns since 2014, say researchers
James Bullard on 2% rates, tariffs and Fed leadership
The president of the Federal Reserve Bank of St Louis speaks about the impact of US trade policies, the disruption to the banking industry from Silicon Valley, shrinking the Fed balance sheet and the potential for agent-based modelling
Uganda keeps rates on hold despite rising core inflation
Policy necessary to ensure “sustainable growth”, governor says
Argentinian central bank takes drastic action over currency crisis
BCRA hikes key rate by 500 basis points and pledges major forex and debt changes
Weak inflation keeps rates at record low in Israel
Bureau of statistics revised economic forecasts upwards in the face of solid growth
The perilous road to normality
Many central banks are starting to tighten policy, but their room for error is limited and their final destination unclear. What more can they do?
Trump and Erdoğan: cut from the same populist cloth
Barry Eichengreen compares the respective strongmen of the US and Turkey, as the latter country spirals towards crisis
US stimulus could accelerate policy normalisation – IMF research
Higher growth could increase imbalances and fuel calls for more protectionism
Trade uncertainty keeps Bank of Mexico on hold
Central bank leaves interest rates at 7.75%; revises up inflation expectations
Philippines central bank makes biggest hike of 2018
Central bank raises interest rates by 50bp on the back of mounting inflation pressures
Strong US economy reduces risks from normalisation – Barkin
Richmond Fed president points out consumers are increasingly concerned about tariffs
Turkish lira plunges again amid looming sanctions
Finance ministry to unveil ‘new economic model’, as central bank struggles to support the currency and officials seek to avoid fresh US sanctions
No rate hike likely until 2020, says RBNZ’s Orr
Central bank leaves interest rates on hold as concerns around growth and inflation emerge
Argentina creates new monetary policy committee
Central bank leaves rates unchanged on high inflation pressures
NY Fed’s Potter: technical tweak helped avoid breaching target range
Effective federal funds rate has been rising in the target range, but head of markets says he does not see much evidence of rates becoming more sensitive to reserves balances
PBoC acts to rein in renminbi depreciation
Reserve requirement makes it more expensive to short-sell yuan, the first effort by the central bank to stem the currency’s three-month slide