Interest rates
Should central banks review their investment guidelines as monetary policy normalises?
Central Banking editor Chris Jeffery talks to Charles Goodhart, Tim Young and Scott Dickinson about the strategies reserve managers can deploy ahead of a tightening in monetary policy
BIS's Caruana warns low interest rates are ‘self-validating'
Persistent low interest rates can become self-validating, BIS general manager Jaime Caruana warns, in annual speech in which he called for greater international co-ordination
Bank of Uganda halves number of MPC meetings
Uganda’s central bank says ‘less frequent’ policy announcements will help businesses plan; MPC will now meet every other month
Central Bank of Turkey cuts main rate as MPC sees inflation in decline
Bank lowers one-week repo rate by 75bp to 8.75%, its second consecutive rate cut, but says it is maintaining a ‘tight policy stance'
Central Bank of Hungary rate cut streak hits 23
Central Bank of Hungary cuts rates for the 23rd successive month; monetary council says ‘further cautious easing’ may follow, but suggests cycle will soon conclude
Central Bank of Colombia goes for more detailed minutes
New minutes include more detail about board members' policy views that ‘on occasion may reveal the institution's future policy inclination', according to central bank
Swiss National Bank mulls negative rates to follow ECB
Swiss National Bank governor says ‘closely monitoring' the effect of the ECB's move to negative rates; new measures may be needed to cool housing market
IMF paper makes case for new policy rate in Kazakhstan
Economists say the National Bank of Kazakhstan should be equipped with a new policy rate to give it more direct influence over short-term interest rates
Bank of England MPC minutes reveal surprise over dovish market expectations
BoE minutes show MPC members expected markets to price in earlier rate hike despite bank's vow to keep them low for extended period of time
Public satisfaction with Bank of England at post-crisis high
'Net satisfaction' with the way the Bank of England sets monetary policy was 31% in May, poll shows; results reflect improving economic outlook
New Zealand hikes OCR again; Indonesia and South Korea hold firm
Reserve Bank of New Zealand raises its key rate for the third time in 2014; Bank Indonesia and Bank of Korea hold policy despite above- and below-target inflation respectively
Chile minutes reveal commitment to hit inflation target
Above-target inflation dissuaded the Central Bank of Chile's monetary policy-makers from cutting rates despite fears over an expanding output gap
Rajan 'cognisant' of state financing needs as RBI loosens credit restraints
Reserve Bank of India holds key rate at 8% despite spike in food prices; takes steps towards creating a ‘more generalised provision of system liquidity’
Opinion: The ECB is in danger of losing its voice
Mario Draghi's primary monetary policy tool - communication - may no longer be enough, says Patrick Artus of Natixis
FOMC's Esther George wants rate lift-off ‘shortly' after end to taper
Kansas City Fed chief says banks are responding to low rates ‘as we should expect' and notes an all-time high of $600 billion of leveraged US loans were issued last year
Bank of England minutes reveal 'variety of views' on monetary policy path
Emphasise 'gradual and cautious' move on interest rates, though 'for some members' the monetary policy decision is becoming 'more balanced'
The case for hedging reserves portfolios with futures contracts
Central banks may still be able to hedge their bond and money market portfolios against rises in interest rates. Elisa Vilorio makes a case for using interest rate futures.
Draghi points to ECB action next month
European Central Bank holds rates but is ‘comfortable’ with the prospect of easing monetary policy following next month’s economic forecasts
OECD urges ECB to cut key rate
The OECD chief economist calls on the European Central Bank to cut its main refinance rate to zero and prepare for ‘additional non-conventional stimulus’
China should adopt new intermediate target for monetary policy, say IMF economists
Economists at the IMF analyse demand for money in China and conclude the PBoC would be better off targeting interest rates in the economy rather than monetary aggregates
Israel to announce rate decisions while trading floor is open
Move will bring Israeli central bank in line with its international peers but unlikely to make much practical difference, observers say
IMF says real interest rates have fallen sharply since 1980s
Rise in emerging market savings rates, increase in demand for safe assets and recent fall in yields in advanced countries are the major contributors to real rate decline since the 1990s
Mutebile says African central banks should adopt inflation targets
Bank of Uganda and International Monetary Fund encourage central banks in Sub-Saharan Africa to transition to more ‘modern’ monetary policy frameworks
Riksbank told to stop ‘leaning against the wind' by national forecaster
Sweden's National Institute for Economic Research sees ‘no reason for monetary policy to be influenced by household debt' in a rebuke of Riksbank policy