Interest rates
ECB and BoE join other countries in rates hold
European Central Bank and Bank of England join the National Bank of Poland and Bank Indonesia in leaving interest rates on hold; ECB president welcomes U-turn on Greece private sector involvement
IMF paper measures the natural rate of interest
Fund study says the transformed money demand and observed output gap provides the best information about the natural interest rate
Bank of Israel report highlights policy split on rate-setting body
Bank of Israel report of Narrow Forum discussion shows one member of monetary committee dissented against decision to hold rates, instead preferring a 25-basis-point cut
Albania approves monetary policy strategy for 2012-2014
Bank of Albania renews monetary policy strategy; offers clarifications and elaborations on previous versions of aims
BIS paper examines sustainability of pension schemes
Bank for International Settlements study sheds light on effects of global economic downturn on the design of occupational pension schemes
BIS paper warns of risks from long-term interest rate volatility
Bank for International Settlements study cautions against the use of long-term interest rates as a policy variable
Draghi explains extraordinary policy measures
ECB president sets out the reasons behind governing council’s decision to cut the benchmark interest rate and introduce three measures to support bank lending and liquidity in the eurozone
Fed holds fire amid European chaos
Federal Open Market Committee points to 'strains' in global financial markets as it holds rates and reaffirms commitment to Operation Twist
European uncertainty reflected in central bank decisions worldwide
Germany, Austria, India and South Korea lower growth estimates as a slew of countries hold interest rates; world looks on and waits to see if Europe can agree a solution to the sovereign debt crisis
Sluggish growth outlook forces ECB to take drastic action
European Central Bank lowers rates by 25 basis points as sovereign debt crisis weighs in on growth; Governing Council reveals new liquidity measures to ease funding conditions
ECB paper tests eurozone balance sheet transmission mechanism
European Central Bank study shows central bank balance sheet operations can stimulate economic activity and inflation, but has its limitations
Thailand and China ease monetary policy
Thailand cuts benchmark rate and China lowers reserve ratio as eurozone crisis impact is felt in Asia; Thailand also keen to combat effects of devastating floods
Interest rate pass-through in Ghana protracted: IMF paper
Fund study finds lags in adjustment of wholesale market rates reduces the effectiveness of monetary policy conducted by the Bank of Ghana
Accommodative policies risk triggering interest rate traps: Norges Bank paper
Norges Bank study says low interest rate environments provide banks with incentive to rely on public provisions for liquidity
Interest rate growth differentials matter for debt sustainability: IMF paper
Fund study says low values of interest rate growth differential in non-advanced economies provide strong support for debt sustainability
Draghi announces rate cut amid fears of mild recession
European Central Bank president Mario Draghi marks inaugural Governing Council press conference with 25 basis point rate cut; ECB reveals details of covered bond scheme
Limited liability leads to excessive risk-taking: IMF paper
Fund study shows excessive risk-taking by banks increases as the interest rate decreases
Uganda defends monetary policy
Executive director of research at the Bank of Uganda releases a statement explaining the central bank’s monetary policy; outlines what policy can do and what it cannot
Belarus given guidance to restore 'stability and prosperity'
International Monetary Fund tells Belarus to reduce inflation and raise interest rates; central bank sells off surplus office items
Israel completes appointments to new rate-setting body
Israeli government confirms appointment of three external members to Bank of Israel’s new Monetary Committee; rate-setting body due to vote in October
Trichet bows out with new bond purchase scheme
Jean-Claude Trichet unveils a new covered bond purchase scheme; ECB governing council also agree to hold interest rates and support Jörg Asmussen for governing council post
ECB paper identifies rate-setting heterogeneity among policymakers
European Central Bank study finds differences in interest rate voting patterns within three monetary policy-setting committees
IMF paper incorporates financial sector risk in monetary policy models
Fund study examines risks of including financial stability indicators in monetary policy reaction models
San Francisco Fed paper identifies strong QE signalling channel
San Francisco Federal Reserve study finds strong signalling effect from Federal Reserve’s quantitative easing programme