Monetary Policy
Iceland resumes easing cycle on weaker growth forecasts
Central bank cuts key interest rate by 25 basis points to 2.75%
Thailand cuts rates as coronavirus threatens growth prospects
Central bank lowers interest rates 25bp on concerns outbreak will hamper prices and tourist revenues
IMF praises Rwandan central bank’s progress on inflation targeting
Funding investment will be challenging but inflation should peak early this year, IMF staff say
Rising US rates can be ‘good news’ for EMEs – Fed paper
Researchers examine difference in spillovers from growth- and inflation-driven rate increases
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads
Ukrainian central bank cuts rates as inflation falls within target range
NBU is optimistic on economy, but warns government over IMF deal and banking reforms
Sri Lankan monetary board lowers policy rates
First board meeting under new governor says cut will allow further lowering of market lending rates
Chilean central bank holds rates, citing uncertain outlook
Central bank warns of impact of fall in demand for Chile’s major export as mass protests continue
BoE holds rate at Carney’s last MPC meeting
Carney says he has “no regrets” on monetary policy as MPC cuts growth forecast
Fed leaves monetary stance unchanged but tweaks IOER
FOMC also announces updated plans on its balance sheet and repo market interventions
Riksbank’s Skingsley calls for other policy areas to support monetary stimulus
First deputy governor says Swedish central bank has tools to react to future recessions
Argentinian central bank willing to finance external debt
Institution commits to maintain positive real interest rates in order to foster price stability
BoE’s close rate call: what to watch
Markets had priced in 50% chance of a cut, but several economists say easing looks unlikely
Lesotho cuts interest rates to 6.25%
Central bank reduces rates and lowers reserves target on back of weaker domestic outlook
ECB’s Mersch warns of negative side-effects of ultra-loose policies
Policies may be contributing to risk-taking, high asset-price inflation and inequality, board member says
Central Bank of Kenya cuts rates again
Policy-makers look to offset fiscal tightening and push economy back to potential
Fed paper models new transmission channels of forward guidance
Allowing for household borrowing amplifies forward guidance effectiveness, researchers find
Lagarde promises wide-ranging review as ECB holds rates
ECB’s monetary policy review will look at green finance and engagement with citizens – Lagarde
Norges Bank’s new MPC leaves rates unchanged
Policy rate likely to be on hold for some time, Norway’s central bank says
Bank of Canada holds rates but cuts growth forecast
Central bank cuts expected growth by 0.75 percentage points lower for both Q4 2019 and Q1 2020
Should the ECB increase the transparency of governing council meetings?
Observers and former officials weigh pros and cons of greater disclosure for policy efficacy and independence
Optimal US reserve regime is between scarcity and abundance – research
Former NY Fed official Simon Potter and co-authors map post-crisis demand curve for reserves
Bank Negara Malaysia surprises market with ‘pre-emptive’ rate cut
Analyst believes move signals end to “brief easing cycle”
Book notes: The long journey of central bank communication, by Otmar Issing
This book is a “masterly exposition on central bank communication, its evolution and continuing challenges”