Monetary Policy
Bank of Canada paper analyses benefits of higher inflation target
Success of higher target hinges on use of unconventional monetary policy and the level of real interest rates
Eurozone growth showing signs of ‘moderation’, Draghi says
ECB president says recovery is continuing; temporary factors may be slowing growth
Riksbank delays first hike on weak inflation
Repo rate expected to remain negative until late 2019
Turkish central bank makes long-awaited hike
Inflation has been in double digits for several months, but the CBRT has struggled to hike
Romanian ruling party leader accuses central bank of political bias
President rejects accusations that central bank is spreading “fake news” as inflation rises
BoE faces ‘uncomfortable’ approach to May meeting – Forbes
Former MPC member says pre-announcing a rate rise “could be quite dangerous”, as Mark Carney appears to row back from signalling a hike
Costa Rica’s upgraded website employs new data management tools
New design layout is responsive for mobile devices; central bank will monitor website traffic to determine the best time to publish information
PBoC cuts reserve requirement in bid to support lending to smaller firms
Move may be "precautionary" response to slowing growth – analyst
Dudley backs floor-based system for setting monetary policy
New York Fed chief highlights drawbacks of pre-crisis corridor system
Quarles: yield curve flattening not “likely” a signal of recession
Flattening of yield curve is due to “expected lags” in the adjustment of longer-term rates once shorter-term rates start to rise, says Fed vice-chair
Canadian households may be responding to higher interest rates - Poloz
Canadian governor says higher interest rates will be warranted “over time”
UK wage growth outstrips inflation
Lower unemployment and above-target inflation reinforce May hike probability
Riksbank should reduce balance sheet to avoid risks – Flodén
“Best way” of running down bond holdings is to hold bonds until maturity
HKMA buys HK dollar for first time in 13 years
HKMA chief says central bank is “fully capable” of defending local currency
FOMC minutes show members expecting higher US inflation
Fed’s rate-setters say current fiscal policy has few historical parallels
New RBNZ mandate is evolution not revolution, says McDermott
Inflation-targeting framework has been tweaked several times already – assistant governor
New York Fed lays out QE unwinding scenarios
Fed’s balance sheet is expected to stabilise between $2.5 trillion and $3.3 trillion
Iran seeks to unify exchange rates amid rial plunge
New rate is meant to eliminate gulf between official rate and market, but it remains unclear whether the measure will succeed
Central banks should personalise communications – BoE’s Haldane
Explaining how monetary policy affects the lives of everyday people could help bridge trust gap, the BoE’s chief economist says; calls for monetary policy ‘scorecards’
China's policy transmission increasingly similar to advanced economies – BIS paper
Authors say monetary policy surprises have “sizeable” effects on interest rates in China