Monetary Policy
PNG governor says central bank braced for LNG revenues
Bank of Papua New Guinea governor cautious in face of liquefied natural gas production coming online later this year, which could boost growth but may result in a decline in the manufacturing sector
Bank of England and ECB in joint call to put ABS back in play
European Central Bank and Bank of England promise more thorough treatment of how to reverse asset-backed securities market decline - which could allow ECB to undertake QE
Bernanke and Rajan cross swords over policy spillovers
Former Fed chairman challenges RBI governor’s analysis of monetary policy spillovers, after Rajan calls for greater co-operation between central banks
FOMC minutes reveal disagreement on forward guidance
Members emphasised ‘uncertainty associated with using thresholds, triggers, or floors' as part of forward guidance in March video conference
Norges Bank governor says clear 'reaction pattern' lessens attention on forward guidance
Øystein Olsen tells Columbia University audience the better central banks become at communicating their reaction pattern, the less attention their forward guidance will receive
Effect of a monetary policy shock is volatile over time
Research using 100 years of US economic data finds the sensitivity of the economy to monetary policy shocks has changed ‘dramatically'
Weidmann would consider 'outsourcing’ SSM from ECB
Jens Weidmann tells Klaas Knot the ECB should consider ‘outsourcing’ the single supervisory mechanism once it is established
Turkey's Başçı reiterates rate cut is unlikely
Central Bank of Republic of Turkey governor Erdem Başçı says lower interest rates unlikely following PMs call for a cut on Friday
BoE adds ECA-backed loans as acceptable collateral
Loans guaranteed by UK export credit agency UKEF will be accepted under the Bank of England's Sterling Monetary Framework, with a haircut
ECB says forward guidance a success
European Central bank annual report for 2013 finds forward guidance helped to stabilise money market conditions and anchor market expectations
Yves Mersch urges ABS regulation rethink
European Central Bank executive board member calls for global framework that distinguishes between securitisation instruments of different qualities
Monetary policy's 'new normal' will challenge central bank independence, say IMF staff
The ‘new normal' for monetary policy, including taking account of macro-prudential concerns and cross-border spillovers, will also complicate accountability and challenge central bank independence
Turkish PM calls on central bank to cut rates
Turkey's prime minister Recep Tayyip Erdogan calls on central bank to ‘convene extraordinary meeting' to cut interest rates day after governor sends ‘hawkish' signals in London
FOMC member says 3% growth would prompt fed funds rate 'lift-off'
Atlanta Fed president Dennis Lockhart advocates a 'dashboard' approach to forward guidance and says quantitative easing is tapering 'predictably'
Central Bank of Brazil raises Selic rate amid uptick in inflation
Central Bank of Brazil hikes rate by 25bp to 11% following upward revision of inflation for 2014; analysts predict an end to year-long tightening cycle
Draghi opens door to QE as ECB holds
European Central Bank president Mario Draghi says governing council discussed asset purchases in latest meeting; votes to hold rate despite more disinflation
Bank of Canada looks to anecdotal evidence amid economic models' ‘weakening performance'
Governor Stephen Poloz says experiences of faltering economic models last year has led the bank to focus increasingly on surveys and meetings with local businesses
Lagarde calls for co-ordination to contain ‘spillovers' and ‘spillbacks'
Speech warns advanced economies they can suffer from negative feedback when their policies cause spillovers in emerging markets
Chilean peso's precipitious fall is 'desirable', says Vergara
Central Bank of Chile governor Rodrigo Vergara says floating exchange rate regime has absorbed terms of trade shock and tightening of international financial conditions
Bank of England paper estimates effects of monetary policy
A new approach outlined in a Bank of England working paper avoids three major pitfalls in estimating monetary policy's effect on growth and inflation
Cyclical character of US unemployment makes monetary policy a remedy, says Yellen
Federal Reserve chair Janet Yellen argues cyclical character of US unemployment renders monetary policy an important tool in fighting it
RBI holds rates as inflation follows ‘glide path’
Central bank holds key rate at 8% as tighter policy works its way through the economy; household inflation expectations continue to fall
Philippines central bank backs 'vital’ reforms
Central Bank of the Philippines welcomes plans for $3.3 billion recapitalisation and new mandate; looks set to receive new supervisory powers and monetary policy instruments
National Bank of Ukraine heads for IT regime following clear-out of senior staff
Ukraine central bank will institute an inflation-targeting regime, after the former governor was dismissed along with his deputy and two departmental directors