Monetary Policy
NY Fed's Geithner on U.S. monetary policy
In the speech 'U.S. monetary policy in the global financial environment' given on 9 March Timothy Geithner of the Federal Reserve Bank of New York said U.S. monetary policy may need to be tightened sufficiently to offset the downward pull on interest…
BoJ's Mizuno says rate hikes necessary - report
Atsushi Mizuno, a Bank of Japan policy board member, has said that raising interest rates is necessary to have some flexibility in managing monetary policy, Jiji Press reported.
Bank of Japan takes big risk with policy change
According to this article published on Friday 10 March, by ditching its quantitative easing policy the Bank of Japan may be making one of the biggest mistakes in its history.
Comment: Unravelling the BoJ message
The Bank of Japan put an end to its "quantitative easing" policy last week. Although the timing was slightly ahead of expectations, the move itself was widely anticipated. Attention has now turned to unravelling the implications of the central bank's new…
Fukui: Zero rate policy can't last 'indefinitely'
Bank of Japan governor, Toshihiko Fukui, said on Friday 10 March that the central bank won't keep borrowing costs at zero forever.
RBNZ Monetary Policy Statement, March 2006
The Reserve Bank of New Zealand published its March 2006 Monetary Policy Statement on 9 March. The report said that economic indicators are now clearly signalling a slowdown, following New Zealand's longest economic expansion in 30 years.
RBNZ leaves OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced on Thursday 9 March that its Official Cash Rate (OCR) will remain on hold at 7.25 per cent.
Bank of Japan's statement on policy guidelines
Following is the full text of the Bank of Japan's statement on its change in monetary policy guidelines, Thursday 9 March.
Bank of Japan ends quantitative-easing policy
The Bank of Japan voted 7-1 to end its five-year-old super-easy monetary policy on Thursday 9 March at the end of a two-day meeting, but said it will maintain short-term interest rates near zero until its next meeting in April.
Swedish Riksbank unanimous in rate hike decision
The Swedish Riksbank's board was unanimous in its 22 February decision to raise the repo rate by 0.25 pct to 2 pct, according to the minutes of the meeting published Wednesday.
Comment: Has the ECB become more credible?
A recent New York Fed staff paper finds that market perceptions of the ECB's "inflation aversion" have improved significantly over the last six years, reflecting the idea that monetary policy has been guided by a dedication to price stability.
Norges Bank's monetary policy conference 2006
On Thursday 30 March, Norges Bank is holding a monetary policy conference in connection with the publication of Norges Bank's Annual Report for 2005.
Bank of Canada raises rates to 3.75%
The Bank of Canada announced Tuesday that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 3/4 per cent.
Japan's Abe says BOJ should be transparent
Japan's top government spokesman said on Tuesday 7 March that it was important that the Bank of Japan's monetary policy is transparent.
Comment: Busy week for policymakers
This week is a busy one for monetary policymakers, with policy meetings taking place in Japan, the United Kingdom, Canada, Australia, New Zealand and Indonesia. Here is a brief look at what's been on the mind of central bankers in these countries.
Comment: BoJ to end QE this week?
Friday's inflation data has added to feverish speculation that the Bank of Japan (BoJ) will end its "quantitative easing" policy later this week. However, the departure from its zero-interest rate policy is still months off and the question of the…
Yosano not sure to give view at BOJ meeting
Japanese economy and banking minister Kaoru Yosano said on Friday 3 March that the Bank of Japan should decide when to end its quantitative easing policy and that he wasn't sure if the government would give its view at the BOJ's upcoming meetings.
BOJ set to end ultra-easy policy - report
Senior Bank of Japan officials have decided to submit a proposal to end the central bank's super-loose monetary policy at next week's BOJ board meeting, two Japanese news agencies reported on Friday 3 March.
Monetary policy by committee: Why and how?
In this De Nederlandsche Bank Working Paper, published February 2006, Alan Blinder discusses two questions: Why have so many central banks switched from individual to group decision making, and how?
ECB raises rates, says more rises are possible
The European Central Bank raised its benchmark interest rate on Thursday 2 March for the second time in three months and suggested more hikes are possible as economic growth and inflation accelerate.
Report says BOJ considering 'reference rate'
The Bank of Japan is considering setting a 'reference rate' on inflation to guide markets on its monetary policy intentions, Jiji Press and other media reported.
Japan's PM says govt would tolerate BOJ shift
Japanese Prime Minister Junichiro Koizumi indicated on Monday 27 February that the government would be prepared to tolerate a move by the Bank of Japan in lifting its ultra-easy policy as early as March.
BoE voted 8-1 to hold rates
The Bank of England's policy-making Monetary Policy Committee voted 8-1 to keep UK interest rates unchanged this month, with Stephen Nickell again as the sole member calling for a reduction.
Fed can't rule out more rate rises
Minutes from the Federal Reserve's 31 January FOMC meeting released on Tuesday 21 February showed Fed officials felt a 14th straight increase in interest rates last month put borrowing costs near where they needed to be, but they could not rule out more…