Monetary Policy
Dutch governor warns of unconventional policy hazards
Knot also argues for expansionary fiscal policy and symmetrical inflation target
Bank of Mexico implements third rate cut of easing cycle
Divided board decides to lower key rate by 25bp to 7.5%; two board members voted for a 50bp cut
Egypt slashes rates by further 100bp
Sharp drop in inflation prompts easing by monetary policy committee
NY Fed unveils new measures to tackle year-end funding pressures
Fed is expecting a “sharp increase” in flows out of reserves during December, statement says
De Guindos says ECB ‘implicitly has symmetrical targeting policy’
ECB vice-president backs Macron plan for common eurozone fiscal policy
Italian banks exploit ECB tiering to sharply boost local deposits
Rush to exploit arbitrage opportunity is “interesting showcase” of fragmented markets, says Benoît Cœuré
Bank of Jamaica should ‘modernise’ regulatory framework – IMF
Fund’s recommendations follow completion of country’s second consecutive support programme
Fed ramping up climate change research efforts – Lael Brainard
Climate change could impact neutral rate, governor says; Fed can’t afford to ignore the issue, San Fran Fed’s Mary Daly adds
Carney says BoE is ready to cut rates as MPC votes to hold
Two dissenters vote for rate cut as BoE cuts UK growth forecasts on back of new Brexit deal
Book notes: The Bank of England and the government debt, by William Allen
Required reading for Treasury, Debt Management Office and Bank of England staff
IMF paper looks at Moroccan monetary policy
Findings show balance sheet has significant impact, especially via smaller firms – researchers
ECB says new eurozone benchmark successfully introduced
Data shows September rate cut fully passed through to new €STR benchmark, ECB says
Central banks turn to Instagram to reach younger generations
Audiovisual social media network is helping some central banks offer financial education for millennials and Gen Zs
Uncertainty is lessening monetary policy effectiveness, Fed president says
Policy-makers at risk of not getting same “bang for the buck”, Tom Barkin says
Bank of Thailand cuts interest rate to record low
Bank of Thailand cuts rate to all-time low and relaxes forex rules
Fed stands ready to ease year-end funding squeeze, says Logan
New York Fed prepared to adjust recent market operations, says markets chief
Germany’s tight fiscal policy may hamper ECB normalisation – IMF research
Sustained budget surpluses have reduced debt issuance and contributed to ever-lower yields
Turkish central bank supplies lire through stock exchange
Governor acknowledges unconventional short-term liquidity provision, as repo operations falter
Swiss governor rules out SNB transfers to pension funds
Negative rates are hurting sector but pension reform is solution, Jordan says
BIS’s Borio warns interacting financial cycles destabilise global system
Domestic and global cycles interact and amplify one another, BIS official says
Fed considering tools to help flow of reserves in the system
Remarks are some of the most detailed Jerome Powell has made on financial plumbing issues