Monetary Policy
Yellen stresses commitment to ‘gradual’ rate hikes
Fed chair examines possible factors behind disappointing inflation results, but concludes gradual rate hikes are still warranted
Atlanta’s Bostic ‘sceptical’ about low inflation factors
President of Atlanta Fed is not sure technology and competitive pressures are to blame for prolonged below-target inflation
Eichengreen supports calls for FOMC to hold more press conferences
Governance expert says Fed is one of the most transparent central banks in the world but improved consistency of format around FOMC meetings “makes sense”
John Williams on the neutral rate of interest and mandate change
The president of the Federal Reserve Bank of San Francisco speaks about the plunge in the natural rate of interest, and why it means central banks should work together to review their price stability targets
Fed’s Williams floats co-ordinated shift from 2% targets
San Francisco Fed president is concerned that extraordinary, ‘beggar-thy-neighbour’ monetary policies will be more frequent in a lower-growth world
Chicago Fed’s Evans sees little risk of inflation surge
Study by the Chicago Fed finds little evidence there could be a threshold in unemployment beyond which inflation may surge
Bank of Ghana pauses policy easing on inflation worries
Central bank holds interest rates at 21% to see if external pressures will prove persistent; improvement in export prices will provide country with buffer against shocks
Nigerian state uses central bank as ‘piggy bank’ – MPC member
Central bank policies are crowding out private investment, economist argues
Kuroda deflects criticism of 2% target
BoJ governor pushes back at those calling for a reduction in the target, as inflation in Japan remains off course
SNB’s Jordan praises John Taylor legacy
The governor values how the Taylor rule has provided policy guidance, becoming an important benchmark
Czech exchange rate floor helped fight deflation – IMF paper
Range of methods imply the exchange rate floor was an effective measure, having been employed after hitting the zero lower bound
Central banks may be thinking wrongly about inflation – Borio
BIS economist says inflation may not always and everywhere be a monetary phenomenon, which could help explain why the natural rate is so low
Riksbank welcomes higher inflation
Minutes of last monetary policy meeting caution krona has appreciated faster than previously forecast
FOMC triggers balance sheet wind-down
Fed will begin allowing securities to roll off its balance sheet from October; Janet Yellen stresses changes will proceed gradually
Tapering ECB asset purchases could free up market forces- Bundesbank board member
Market reaction hard to predict, Joachim Wuermeling says
Brexit brings inflationary risks, Carney says
“Continued erosion of slack” is putting pressure on MPC, governor says
Rising debt threatens Swedish stability – deputy governor
Ohlsson welcomes higher growth, but says inflation must rise sustainably
Rate hikes could halt asset bubbles, research finds
Tighter policy can work if savings fall or holdings of bubble asset decline, paper says