Monetary Policy
BoE’s Ramsden: UK not yet ready for negative rates
Deputy governor highlights several important considerations in decision to push rates below zero
Bank of Mexico cuts rates again despite above-target inflation
President refuses to increase fiscal support package, citing danger of sovereign debt crisis
Turkish central bank raises rates unexpectedly
President Erdoğan dismissed previous governor for tightening monetary policy
Norges Bank holds rates over Covid-19 fears
Norwegian central bank expects rates to remain unchanged over the next two years
Is there a rift in the ECB governing council?
Mixed messages from Christine Lagarde were followed by sharp divergence among board members
Fed’s new framework has had little impact on expectations – NBER paper
Early evidence suggests few people heard the announcement and fewer understood it
RBNZ hints at further stimulus by the end of the year
Central bank says banking sector is on track to be prepared for negative rates
ECB to accept green bonds as collateral
Green asset purchases also possible subject to programme-specific criteria
Riksbank signals rates likely to stay at zero for several years
Central bank does not forecast negative rates, but doesn’t rule them out
Australia’s central bank considering FX interventions, says Debelle
RBA is evaluating additional monetary policy tools, deputy governor says
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
Riksbank starts corporate bond purchases
Swedish central bank will buy $1.1 billion in these bonds until June 30, 2021
ECB has ‘no room for complacency’, Lane says
Chief economist stresses ECB is ready to expand stimulus after Lagarde appeared to downplay risks
Bank of Canada looking at inequality, governor says
Monetary policy review is considering impact on wealth and income inequality, says Tiff Macklem
ECB leaves policy unchanged
Lagarde says she will not comment on euro’s exchange rate against the dollar
BIS paper explores changing inflation risk factors
Authors highlight “significant non-linearities” among a range of risk factors
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
Costa Rica launches new conditional lending facility
Banks can receive funding on the condition they submit lending plans to the central bank
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, Stephanie Aaronson says
ECB should scale back monetary stimulus after crisis – Weidmann
Knot says central bank should adopt symmetry in the implementation of PEPP purchases
Judging scarcity of reserves depends on Treasuries outstanding – paper
Increase in short-term Treasuries causes money markets to behave, as there is a scarcity of reserves, researchers find
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says BoE deputy
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer