Interest rates
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
Canada’s Côté on households' role in recovery
Bank of Canada deputy governor Agathe Côté discusses balance of risks in household spending and impact on economic recovery
Shekel gains leave Bank of Israel cautious over rate hike
Bank of Israel minutes show members of the central bank’s narrow forum feared interest rate hikes would lead to further gains in the shekel
Government delay holds up launch of Bank of Israel’s new rate-setting body
Bank of Israel awaits government’s selection of three external members to new Monetary Committee seven months after passage of law for new interest rate-setting measures
RBA minutes: rates on hold as global downside risks rise
Minutes of Reserve Bank of Australia rate-setting meeting relay concern over deteriorating situation in Europe; more positive on US, China
Monetary policy and the Australian-Kiwi exchange rate: RBNZ paper
Reserve Bank of New Zealand research finds Australian dollar-New Zealand dollar exchange rate incompatible with uncovered interest rate parity after official cash rate adoption
Riksbank’s Nyberg challenges Svensson over monetary policy framework
Riksbank deputy governor Lars Nyberg says monetary policy must support macroprudential policy; comments contrast with Svensson’s calls for monetary policy to focus on price stability
Central Bank of Turkey – Inflation Report (Q4 2010)
Central Bank of Turkey’s fourth quarter Inflation Report says despite strong domestic demand, weak external demand forced the central bank to keep rates low
BoE paper: capital inflows primary cause of US housing bubble
Bank of England study shows large capital inflows had a greater effect than monetary policy in generating housing bubble in United States
Fed’s Yellen: QE2 could help emerging markets
Federal Reserve vice chair Janet Yellen makes case for currency appreciation in emerging markets; remarks come on the heels of emerging market criticism of QE2