Interest rates
BoJ split over economic impact of rising commodity prices
Bank of Japan monetary policy minutes show divisions in policy board over seriousness of rising international commodity prices
Norges Bank - Monetary Policy Report (March 2011)
Norges Bank’s March 2011 Monetary Policy Report says executive board expects earlier rate hike on growing inflationary pressures
RBA minutes: rates on hold as temporary inflation effects dissipate
Minutes of RBA rate-setting meeting says inflationary effects of extreme weather conditions only short term; renewed focus on global inflation risks of higher oil prices
ECB paper on credit card users under binding constraints
European Central Bank shows credit card users are insensitive to interest rate rises on transactions
Bank’s Sentance lists reasons for rate hike
Bank of England external Monetary Policy Committee member Andrew Sentance stresses importance of gradual rise in interest rates
Bailout renegotiation looms following Irish election
Ireland’s new prime minister-elect expected to press for renegotiation of EU-IMF bailout deal; scheduled to meet European Commission head José Manuel Barroso on Friday
Asset purchases only in emergencies: Bank’s Bean
Bank of England deputy governor Charles Bean says central bank should rely on short-term interest rates as main policy instrument and asset purchases only in emergencies
Bank’s chief economist joins dissenters on rate hike
Bank of England chief economist Spencer Dale votes for rate hike; analysts say outlook remains unclear given persisting weakness in data
RBNZ triggers contingency plans as earthquake strikes
Reserve Bank of New Zealand says it is collaborating with private sector to provide cash to earthquake-hit areas
Mortgage discounting slows monetary policy pass through: Bank of Canada
Bank of Canada Winter Review 2010–2011 says mortgage-rate discounting slows monetary policy pass-through to lending rates
FOMC minutes on why yield curve is steepening
Federal Open Market Committee meeting minutes explain steep rise in long-term Treasury yields
Buba study on robustness of monetary policy
Bundesbank research examines whether misspecification may have consequences on robustness of monetary policy decisions
Public perception of economy gloomy: BoJ survey
Bank of Japan 44th opinion survey on the general public's views and behaviour shows public believe economic conditions are worsening
Norges Bank’s Nicolaisen gives advice on rate-setting in turbulent times
Norges Bank director of monetary policy Jon Nicolaisen on setting monetary policy in volatile economic times
PBoC hikes rates again
People’s Bank of China raises rates for second time in less than two months amid rising food prices; analysts predict further rate hikes this year
Bank of Israel justifies rate hike
Bank of Israel minutes of discussion with narrow and broad forum explain reason behind interest rate hike for February
Bank of Canada paper on exposure of foreign shocks
Bank of Canada study examines Canadian economy’s exposure to global economic developments
IMF paper identifies Brazilian interest rate regime switch
Fund study says Brazil’s relatively low interest rate level and lack of volatility are owing to regime changes
BoJ minutes shows divergence on QE readings
Bank of Japan rate setting minutes show policy board disputed significance of evidence on monetary stimulus programme
Fed funds rate falls short: Kansas City Fed paper
Kansas City Federal Reserve study says interest rate for reserves may play larger role in Fed’s monetary policy exit plan than fed funds rate
Supply shocks are dictating inflation, King insists
Bank governor reiterates view that temporary events are keeping prices elevated, says development of second-round effects key to picture on underlying inflation; remarks divide analysts
MPC’s Sentance critical of fellow policymakers’ focus on output gap
Bank of England’s Sentance dismissive of overemphasis on domestic output gap; says global factors must not be neglected as merely short-term disturbances when conducting policy
NY Fed paper investigates decline in adjustable-rate mortgage
New York Federal Reserve says supply-side factors explain decline in market share of adjustable-rate mortgages in recent years
Research underestimates probability of reaching zero bound: San Francisco Fed
San Francisco Federal Reserve paper says probability of hitting the zero lower bound of interest rate is often underestimated in economic research