Forward guidance
Bank of Israel’s communication more accessible than Fed’s and ECB’s – research
In August, the central bank issued a special statement correcting forward guidance on lower inflation
Fed paper looks at US spillovers to foreign government debt yields
Fed has “economically large” impact on some dollar-denominated bond yields, researchers find
‘Wrong’ to say Fed is out of policy space, Bernanke argues
Former chair estimates unconventional policy adds 3% to Fed’s room for manoeuvre
BSP’s Diokno on forward guidance and cutting reserves
Philippines governor, Benjamin Diokno, speaks about fintech and efforts to wean Asia off the US dollar
30 years of central banking
Central banks face credibility tests on a number of fronts
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”
Households respond more forcefully to rate cuts than QE – Dallas Fed
Fed should improve communications for QE and forward guidance, researchers say
RBA open to unconventional policy measures – deputy governor Debelle
Quantitative easing may be on the cards if central bank cuts rates to 0.5%
Central banks face loss of independence – Central Banking survey
Cyber risks and lax supervision are biggest threats to financial stability
Overcoming deflation: Japan’s experience and challenges ahead
Haruhiko Kuroda explains how Japan’s long battle against deflation may offer insights for others
Bank of Portugal paper assesses unconventional policy
Forward guidance and asset purchases had significant effects on equities markets – researchers
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail; and more
Higher inflation expectations can cut consumption – research
Authors conduct randomised control trial to test “forward guidance puzzle”
Fed opens door to future rate cut
Policy-makers adopt dovish tone, but choose not to cut yet
Romania’s Mugur Isarescu on independence in a ‘post-truth’ world
Veteran governor speaks about country’s shift to market economy, the euro, mandate-drift and independence
‘Does the Fed know more about the economy?’ asks San Francisco Fed
Researcher compares Fed and private sector growth forecasts
Uncertainty demands pragmatic approach, French governor says
Villeroy de Galhau warns central bankers to avoid creating “additional doubts”
Riksbank faces changed circumstances in first meeting since December hike
Dissenting deputy governor Per Jansson won’t attend due to personal reasons
Unconventional policy should be used rapidly – Fed paper
Researchers find 20–50% chance that US will face zero lower bound in next decade
Central bank comms affect long-run uncertainty – BoE paper
BoE’s inflation report has effects on long-run bond yields, paper finds
Website of the year: Sveriges Riksbank
Redesign has resulted in users engaging with more content
Communication of monetary policy took back seat in financial crisis, researchers find
ECB press conferences transmitted non-monetary information in 65% of cases from 1990 to 2017, researchers find
Japan does not need more large-scale stimulus to avoid deflation – Kuroda
Below-target inflation still requires ultra-low interest rates and asset purchases
US forward guidance had limited effectiveness, Fed paper finds
Households and firms took until 2012 to seriously consider new regime, researchers say