Monetary Policy
No takers for Canada’s emergency operations
In a further sign that funding strains are easing, the Bank of Canada’s soon-to-be withdrawn emergency operations attract no bids
Turkish easing will inject $2 billion
Central Bank of Turkey says loosening of reserve ratio will free up $2.26 billion in permanent liquidity
RBA’s Stevens: downside risks have disappeared
Reserve Bank of Australia’s Glenn Stevens hints at further rate hikes in coming months
FOMC sees slack subduing inflation
Federal Open Market Committee says output gap will persist
Bank officials at odds over QE’s impact
Confidence of Bank of England’s executive director for markets appears to conflict with deputy governor’s ambivalence
Turkey cuts, signals lower rates to come
Central Bank of Turkey chops half a point of benchmark rates
Ireland’s Honohan: restore, not reinvent
Governor uses first speech to hark back to 2000 as benchmark for Irish economy
Sri Lanka holds rates steady
Central Bank of Sri Lanka continues policy of gradual easing of credit conditions
Cautious MAS maintains zero appreciation policy
The Monetary Authority of Singapore pledges to maintain its policy of zero appreciation [of the Singapore dollar’s nominal exchange rate] as confidence in global rebound wanes
Bernanke sets out tightening strategy
Fed Chairman outlines measures that can be taken to ease inflationary pressure
Central banks must guard independence – IMF
International Monetary Fund says the risk of losses from unconventional policies can pose challenges to financial independence
Canada taking “hard look” at price-level target
Bank of Canada’s Paul Jenkins says central bank undertaking “considerable study” on pros and cons of price-level targeting
Reserve Bank of New Zealand - Annual Report 08/09
Governor of the Reserve Bank of New Zealand says the country dealt with the crisis fairly well, but risks remain
UK opposition leader interferes in Bank policy
David Cameron, leader of the opposition Conservative party, says “the government” will have to stop printing money
Trichet sees “pressing need” for fiscal responsibility
Announcing that interest rates would be kept unchanged, ECB president calls for governments to formulate realistic exit strategies
Future rate disclosure works
Bank of Italy looks at the impact of disclosing future rate movements as part of monetary policy
Australia hikes rates in surprise move
Reserve Bank of Australia joins Bank of Israel in tightening borrowing costs on signs recovery in full flow
Watch out for inflows: India’s Subbarao
Reserve Bank of India’s Duvvuri Subbarao says emerging markets should think about how to respond to post-crisis hot money inflows
Czechs don’t need to import monetary policy – Tuma
Czech National Bank’s Zdenek Tuma says euro adoption is a purely political not economic decision
UK Households face lending constraints – survey
The Bank of England’s quarterly survey shows lending to households has declined, but credit is increasingly available to the corporates
Fed will be ready for exit: Kohn
Donald Kohn, vice chairman of the Federal Reserve, says the central bank will be fully prepared to tighten expansionary policy
IMF’s new exchange-rate terms explained
International Monetary Fund explains revisions to its system for the classification of exchange rate arrangements
Bank’s Miles confident on quantitative easing
QE working and will end when circumstances dictate, says MPC member
House prices influence rate setting – Norway’s Gjedrem
Norges Bank’s Svein Gjedrem says equity and property prices influence monetary policy in Norway