Monetary Policy
Ingves on the Riksbank and monetary policy
In the speech 'The Riksbank and monetary policy' given on 23 May Stefan Ingves of the Sveriges Riksbank reiterated that monetary policy will need to be less expansionary in future so that inflation does not exceed the 2% target.
Blanchflower is 'no shrinking violet'
The Bank of England Monetary Policy Committee's latest member, David Blanchflower, told the Treasury Select Committee on Wednesday 24 May that his commitment to the rate setting MPC will form his "primary responsibility."
Bank of Canada raises rates
The Bank of Canada announced Wednesday 24 May that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/4 per cent. The move had been widely expected.
BOJ member sees reserve cut problem
According to minutes of the Bank of Japan's April 10-11 board meeting, published Wednesday 24 May, a policy maker said a rapid reduction in reserves by the central bank may spur speculation of an interest-rate increase from near zero.
Mersch says ECB will have to lift rates further
European Central Bank Governing Council member Yves Mersch said in an interview that eurozone interest rates will need to keep rising because of increased risks to price stability but that there was no fixed schedule.
BOJ's Fukui sees rates rising slowly - report
The Bank of Japan will raise interest rates gradually to keep inflation under control while also giving the economy time to recover, the Nihon Keizai Shimbun quoted BOJ governor Toshihiko Fukui as saying in an interview published Tuesday 23 May.
New MPC member set for grilling
The newest member of the Bank of England's Monetary Policy Committee is likely to face some tough questions when he faces MPs for his "confirmation" hearing on Wednesday 24 May, the FT reported.
Roach urges new monetary policy approach
In comments published on Monday 22 May, Stephen Roach of Morgan Stanley said he is worried that central banking's recent record will not be judged kindly by history.
Rato says more Fed hikes may be needed
International Monetary Fund chief Rodrigo Rato said on Monday 22 May that the Federal Reserve may need to continue raising interest rates depending upon how US economic conditions evolve.
BoE's Tucker on uncertainty, monetary policy, risk
In the speech 'Uncertainty, the implementation of monetary policy and the management of risk' given on 19 May Paul Tucker of the Bank of England said consumption growth in the UK today has become far more stable than in previous years, thanks to…
Bank of England's next move should be a rate cut
The Bank of England's Monetary Policy Committee would be making a mistake if it raises UK interest rates, according to this article published Wednesday 17 May.
As yuan breaches 8, focus shifts to Japan
According to this article published Wednesday 17 May, the dollar has fallen 6.4 percent against the yen this year, and Japanese officials aren't happy about it.
Launch of BoE's new framework
The Bank of England launched its new framework for the implementation of monetary policy to modernise sterling money markets on Thursday 18 May.
Minutes show BoE split 3 ways on rates
The Bank of England's Monetary Policy Committee was split three ways on this month's decision to keep interest rates at 4.5 percent, minutes released on Wednesday 17 May showed.
Comment: Bank of Japan update
The Bank of Japan's monetary policy committee meets this week with an interest rate decision expected on Friday. With any ideas of an imminent rate hike all but ruled out, the emerging consensus is that the shift could come in July.
Sweden's Persson on monetary policy
In the speech 'Monetary policy and the labour market' given on 12 May Kristina Persson of the Sveriges Riksbank said the importance of monetary policy lies not merely in the possibility to influence through temporary changes in the repo rate.
Framework for independent monetary policy in China
According to this IMF Working Paper, published 15 May, as China's economy becomes more market based and continues its rapid integration into the global economy, having an independent and effective monetary policy regime oriented to domestic objectives…
BoJ's Fukui on the outlook for Japan's economy
In the speech 'The outlook for Japan's economy and the conduct of monetary policy' given on 15 May Toshihiko Fukui of the Bank of Japan said completing the process of reducing excess funds in the banking system and raising short-term interest rates are…
ECB not worried by dollar weakness says Liebscher
The European Central Bank is unperturbed by the dollar's current weakness and may still proceed with an interest rate increase next month, Austrian central bank chief Klaus Liebscher said in a newspaper interview published Tuesday 16 May.
Weber on oil price shocks and monetary policy
In the speech 'Oil price shocks and monetary policy in the euro area' given on 11 May Axel Weber of the Deutsche Bundesbank said the inflationary risks connected with runaway record oil prices are likely to increase as the economic recovery in the…
ECB's Trichet on two successes of the euro
In the speech 'Two successes of the euro: the single monetary policy and European financial integration' given on 11 May Jean-Claude Trichet of the ECB said that the central bank is on high alert over inflationary dangers, is exercising "strong vigilance…
How bold a move from the ECB?
According to this article published Friday 12 May, a rate increase at the European Central Bank's upcoming meeting is almost certain, with estimates ranging between 25 and 50 basis points.
BoE's new money market framework
The Bank of England published on Monday 15 May the lists of banks and building societies participating at the launch of its new framework for implementing the Monetary Policy Committee's interest rate decisions.
China needs more central bank independence - IMF
A new paper from the International Monetary Fund says that China should adopt an explicit, long-run inflation objective, strengthen its banking sector, and give its central bank operational independence.