Monetary Policy
Trump criticises ‘clueless Jay Powell’ as markets plunge
US equity markets face sell off and 30-year treasuries dip below 2% for first time
Fed paper looks at negative rates’ impact on eurozone banks
Effects of policy rate cuts on equity change past the zero lower bound, researchers say
Bank of Finland paper studies impact of China’s credit channel
Monetary policy’s effects on credit have significant impacts on economic activity, researchers say
Central banking’s 30-year cycle
Central banking has hit another crossroads, writes Central Banking founder Robert Pringle
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
ECB’s bond purchases restrict monetary policy – DNB paper
Higher demand for safe assets widens sovereign bond spreads- paper
MAS policy stance unchanged despite falling growth
Singaporean government cuts growth forecasts as analysts predict October rate cut
Central banks should use direct lending in shocks – BIS paper
Lending to firms directly could reduce welfare loss during financial shocks, researchers say
ECB’s asset purchases didn’t always stimulate bank lending – research
Sounder banks reduced lending to non-financial firms, Bundesbank paper finds
Rate cuts support Australia’s economy – RBA assistant governor
RBA cuts rates to record lows in two successive months as GDP growth slows
The IMF should adopt a ‘real SDR’
A vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor
IMF sets up new monetary policy modelling unit
Fund responds to criticism from IEO report
Shekel’s strength clouds Bank of Israel’s inflation outlook
Economists ponder whether central bank actions contribute to lower prices and what priorities it should consider in the near future
Australia could reach zero lower bound, says Lowe
Governor says RBA is open to unconventional monetary policy
Serbia cuts rates to record low due to falling inflation
Executive board highlights slowdown in global trade, growth and looser policies in major economies
Mauritius cuts rates to record low
Central bank cites China-US trade war, Brexit and falling inflation
Belarus cuts rates to record low as growth falters
National Bank of Belarus has cut rates 15 times since 2016; ponders IMF assistance
Philippines cuts key rates and hints at more easing
BSP governor indicates more easing likely this year as inflation stays under control
The future of balance sheet policies
What tactics will central banks deploy?
Thailand unexpectedly cuts rates
Bank of Thailand delivers surprise 25bp cut following RMB depreciation
RBI implements fourth rate cut of the year
Central bank reduces interest rates by 35bp to 5.4%, as it lowers growth forecasts
RBNZ surprises markets with 50bp rate cut
New Zealand central bank reduces interest rates to record-low of 1% on weaker growth projections
RBA lowers growth and inflation forecasts
Australian governor says central bank is ready to cut rates further from record-low 1%
Turkey increases reserve requirements on forex deposits
Authorities aim to discourage citizens from transferring their assets into other currencies, weakening the lira