Forward guidance
Fisher ‘encouraged’ by FOMC guidance
Dallas Fed president Richard Fisher welcomes FOMC statement last week; believes ‘flight pattern’ of US economy is toward higher employment and inflation at the 2% target
Kocherlakota explains dissent from FOMC decision to end asset purchases
Minneapolis Fed president says downside risks to inflation outlook ‘arguably worse' than a year ago; says evidence from Japan and Europe shows need to act on 'an ongoing basis'
Poloz recommends dropping forward guidance as conditions normalise
Bank of Canada governor suggests there are better ways of communicating when conditions normalise; most respondents to CentralBanking.com poll agree
Debelle surprised markets take central banks at their word
Reserve Bank of Australia assistant governor suggests markets are ‘underestimating’ the possibility that central banks will change course in response to ‘unexpected’ data
Draghi distinguishes ECB forward guidance from Fed and BoE variants
ECB president compares forward guidance across major central banks; channels John Maynard Keynes and warns that ‘without reform, there can be no recovery’
Fed minutes reveal growing rifts over forward guidance
Minutes show increased debate over whether forward guidance is being used correctly; two dissenters object to phrasing of policy statement
FOMC to raise rates before shrinking balance sheet
Federal Reserve unveils principles for policy ‘normalisation' as members' calls for rate hike grow louder; normalisation not necessarily expected to 'begin soon'
The viability of a commercial approach to central bank communication
Will the prevailing trend for central bank communications to mimic those of commercial entities and political parties stand the test of time?
Philadelphia Fed's Plosser fears ‘risky' FOMC strategy on interest rates
Regional Fed president does not want to wait to increase rates until job market has ‘completely healed'; calls for overhaul of forward guidance
Governors and deputies address labour market conundrums at Jackson Hole
Brazil's Tombini, Japan's Kuroda and BoE deputy Ben Broadbent offer their takes on ‘new natural' unemployment rates, weak productivity growth and central bank remedies
Yellen says rate hike ‘could come sooner than currently expected'
Fed chair acknowledges ‘considerable uncertainty' about level of US slack on FOMC, prompted by labour market changes that 'have yet to be understood'
FOMC members ‘increasingly uncomfortable' with Fed's forward guidance
Members are interpreting recent economic upturn very differently, new minutes show; views differ on how to communicate labour market improvements to the public
Stagnant wages amid falling unemployment creates headache for BoE
Bank of England halves wage growth forecast for 2014 as unemployment seen falling below 6%; Mark Carney notes ‘wide range of views' on MPC about degree of slack
Banque de France's Le Lorier says good communication can ‘substitute' for rate decisions
First deputy says comms can complement decisions in non-crisis times by revealing variables that inform monetary policy; argues monetary and macro-pru mandates can be reconciled
Fed's Plosser dissents over unchanged forward guidance in face of US 'rebound'
Janet Yellen sees second dissent since taking the Federal Reserve chair in January; FOMC language suggests members are becoming more sanguine about economic trajectory
Fed set to finish taper in October
FOMC mulls decision on whether to raise Fed funds rate or shrink balance sheet first before year-end; fears either strategy could jeopardise Fed's communication efforts
Dutch paper: Fed guidance pushed up equity prices abroad
Working paper published by The Netherlands Bank attempts to quantify impact of Fed’s forward guidance on international equity markets
Carney clashes with parliamentarians over ‘unreliable' forward guidance
BoE governor defends suggestion earlier this month that interest rates could rise this year as MP likens central bank to ‘unreliable boyfriend' over changing guidance
Lagarde says Yellen should double FOMC press conference frequency
IMF chief says clear communication is needed to dispel market uncertainty over US interest rate lift-off; also calls on FOMC to publish quarterly monetary policy reports
IMF agrees BoE should raise rates before tapering QE
Bank of England should raise interest rates before shrinking balance sheet, Fund says; notes ‘challenge' in communicating how monetary and macro-pru policies interlink
FOMC mulls further tweaks to forward guidance
Committee member floats the idea of replacing inflation target with a price level target to make up for years of undershooting 2% inflation
Carney says UK's 3% growth is not ‘escape velocity'
Bank of England governor suggests rates likely to remain at current levels for another year or until recovery is underpinned by productivity pick-up and real wage growth
FOMC should be more explicit about its reaction function, says Plosser
Federal Reserve Bank of Phladelphia president Charles Plosser says 'simple, robust rules' can provide useful guidance for FOMC policy
Jeremy Stein casts doubt on Fed's communication strategy
The governor, who steps down later this month, says he failed to appreciate how challenging communicating monetary policy can be before joining the Fed