Monetary Policy
PBoC’s monetary policy framework not likely to change – RBA research
Institutional structure prevents alignment with international peers
Eurozone banks sharply increase voluntary TLTRO II repayments
Firms appear to be preparing for second series of TLTRO III later in December, analysts say
Turkish central bank faces sluggish economy and political pressure
Updated policy framework includes major increase in MPC meetings, but few other changes
RBI on hold despite weak growth and inflation
Committee votes unanimously to wait for more data despite seeing “space for future action”
Chilean MPC abandons easing plans amid political unrest
Currency fell sharply in November following prolonged street protests
Fed’s supervision may have added to repo turmoil, Quarles says
Fed will re-examine effects of supervisory approach, vice-chair tells US lawmakers
Mauritius to roll out forward-looking policy framework
New monetary policy operating framework will look to smooth yield curve
ECB’s QE boosts equity prices beyond fundamentals – DNB research
Negative sovereign bond yields encourage investors to increase exposure to riskier assets
Greater exchange rate flexibility warranted in Peru – IMF
Limiting interventions would help reduce dollarisation further, says fund
PBoC governor vows to stay away from QE and negative rates
Beijing should maintain “normal” monetary policy, says Yi Gang
Swedish MPs propose dual mandate for Riksbank
Proposals aim to redefine institution’s role in monetary policy, financial stability and payments
Negative rates not to blame for low eurozone bank profitability – Fed paper
Rates and macroeconomic environment only make up third of shortfall, researchers find
Tighter policy in large economies squeezes cross-border banking – paper
US monetary policy shocks play major role in bilateral bank lending – Bank of Spain paper
IMF approves new credit line for Mexico as fiscal outlook darkens
Central bank’s success in reducing inflation may be compromised by fiscal weakness
Turkish president calls for further rate cuts
President Erdogan dismissed previous central bank governor in March over failure to cut policy rates
Canada’s fiscal stimulus worth 100bp of rate cuts – Poloz
Infrastructure investment has also helped to reduce financial vulnerabilities
Climate prudential policies could ‘backfire’, IMF economists warn
Lack of international standards could result in financial instability
Fed’s Brainard calls for major framework overhaul
Yield curve caps, flexible inflation targeting and more active macro-prudential policy could help, governor says
Will the Fed pass its year-end funding test?
An unprecedented rate spike in September prompted the Fed to inject billions into funding markets