Forward guidance
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
National Bank of Romania veteran governor speaks to Christopher Jeffery about the country’s shift to a market economy, challenges in the eurozone and independence in a ‘post-truth’ world
‘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
The Swedish central bank has redesigned and restructured its website to great effect, with users staying longer and 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
Williams says Fed policy is almost normal
In achieving Fed’s mandate, “this is about as good as it gets”, New York Fed president says
BIS paper finds trade-off in forward guidance
Forward guidance may deter economic growth, authors say
ECB should enhance forward guidance during normalisation – Cœuré
Executive board member thinks changing economic phase and QE unwinding require more communication
Yellen says Fed should begin forward guidance now
Action now could have equivalent impact to negative rates, says former Fed chair
CBRT vows action at next policy meeting
Turkish central bank has already raised effective interest rates without changing the policy rate
IMF paper praises Chilean central bank’s forward guidance
Central bank’s monetary policy predictability and efficacy was “quite high”
Abandoning forward guidance has helped market communication – Poloz
Governor underscores the importance of language and says forward guidance can sometimes confuse markets
Bank of Canada to incorporate US tariffs in economic projections
Next monetary policy meeting could be affected by protectionism
RBA governor dispels view board ‘does nothing’
Central bank board votes to leave rates on hold, extending period to 21 months with no change; Lowe says next move is likely to be up
Forward guidance essential in times of stress – Fed’s Evans
Chicago Fed president says central banks should plan for inevitable future scenarios now, in order to best prepare the public and to ensure policies are understood
Communication key to convey policies and objectives to public, central bankers say
Yellen, Draghi, Kuroda and Carney reflect on reaction of markets and public to policy communication
Norwegian policy normalisation is feasible – analysts
Uncommon combination of higher oil prices and weak currency offsets subdued consumer prices
Low inflation partly down to luck – CEPR report
David Miles and co-authors argue advanced economies’ luck on inflation could run out; recommend central banks prepare