Monetary Policy
Norges Bank governor explores monetary policy trade-offs
Demand channel requires greater unemployment than currency channel, Bache argues
Russia hikes rates by 200bp
Central bank is forced to update its outlook in face of soaring inflation
Bank of Canada cuts policy rate by 50bp
Governor says further cuts likely as bank puts emphasis on keeping inflation stable
ECB could go below r* when setting policy, says Panetta
Bank of Italy governor says eurozone has to return to “normal way of doing monetary policy”
How to allocate rate hikes ‘keeps me awake 24/7’, says BoJ’s Ueda
Governor reflects on past steps in policy normalisation and Japan’s ageing population
Hungary holds rates again after September cut
Geopolitics prompt “careful, patient” monetary policy, says deputy governor
Bank of Thailand official calls for more flexible inflation targeting
Deputy governor says excessive policy fine-tuning can be counterproductive
IMF warns central banks not to keep policy ‘too tight for too long’
Chief economist calls for “triple pivot” as global economic outlook shifts
Monetary policy shouldn’t overreact to one data point – IMF
Financial Stability Report highlights need for central banks to communicate steadiness
Colombian policy reforms boosted transparency, paper finds
Economists say central bank’s 2018-19 overhaul increased transparency based on two indexes
PBoC launches special lending facility for share buybacks
Governor says central bank might also make further cuts to reserve requirement ratio
Egypt holds interest rates
Central bank expects inflation to fall as economy slows
Chile continues easing cycle with 25bp cut
Analyst says another reduction in December is “far from guaranteed”
European Central Bank cuts rates by 25bp
“Undershooting target” becomes real threat as markets’ medium-term inflation expectations fall below 2%
Turkey holds rates for seventh consecutive time
Decision comes after monthly inflation ticked up in September
Small economies still trigger ‘substantial’ spillovers – IMF paper
New data on monetary policy shocks allows economists to track cross-border impact
How the rate hike cycle emboldened banks’ deposit modelling
But just because depositors didn’t react quickly doesn’t mean it will never happen
Bank of Thailand announces first rate cut in four years
Central bank unexpectedly eases policy by 25bp as inflation stays below target
Indonesia holds while Philippines cuts
Policy rates for both countries now stand at 6% as inflation slows
UK inflation falls to 1.7%
Surprise drop, driven by falling transport costs, makes additional rate cuts more likely
Policy-makers ‘cannot disregard food price shocks’ – BoE study
Working paper calls on central bankers to pay closer attention to headline inflation when setting rates
Peru unexpectedly pauses easing cycle
Central bank expresses hawkishness, though policy rate still among lowest in Latin America
South Korea joins global easing cycle
Government efforts to cool housing prices create opportunity for central bank to cut rates by 25bp
Israel holds rates as conflict continues
Central bank revises inflation and growth forecasts