Interest rates
RBNZ’s Spencer: monetary policy will have more bite
Reserve Bank of New Zealand deputy governor Grant Spencer says cautious lending means monetary policy will have more bite than in previous years
BoE: consumption volatility explains global decline in real interest rate
Bank of England study shows lower global real interest rates caused by higher consumption volatility in traded goods
Price stability must remain top priority: SNB’s Jordan
Swiss National Bank’s Thomas Jordan flags difficulties in using monetary policy to counter financial imbalances
Money market rate best policy target: BIS research
Bank for International Settlements research finds lower macroeconomic volatility where central banks use money market rather than repo rate as policy target
Norway’s Gjedrem says return to inflation target will be delayed
Norges Bank governor Svein Gjedrem says weakness in growth will lead to concessions on inflation mandate
Peru raises reserve requirement in bid to stem capital inflows
Central Bank of Peru increases reserve requirement on overseas loans to 75%
SNB: money market rates best target during recessions
Swiss National Bank study shows money market-based monetary policy procedures create greater stability
Israel justifies rate hold
Bank of Israel minutes flag economic uncertainty as factor behind Governor Stanley Fischer opting to hold rates
Rajan, Krugman clash over Fed policy
Ex-IMF chief economist Raghuram Rajan and Nobel laureate Paul Krugman lock horns over Federal Reserve’s loose monetary stance
Impact of pledge to keep rates on hold unclear: Bank of Canada
Canadian central bank research says conditional commitment to keep rates low has had mixed effect; study shows pledge lowered interest rates on government bonds, but findings not statistically strong
Bank – CEPR Monetary Policy Roundtable
Summary of roundtable discussion comprising members of Bank of England and Centre for Economic Policy Research shows above-target inflation expected to be temporary
Why monetary base control can offer stability
There is a way of replicating the big achievements of the gold standard without going back to gold, argue Brendan Brown and Robert Pringle.
Rate round-up: Hungary, Israel hold on uncertainty
Continued uncertainty in global and domestic economy prompts Hungary, Israel to leave rates unchanged
Korea’s Kim: interest rate hikes had limited impact
Bank of Korea governor Kim Choong-soo says current monetary policy stance remains accommodative
Iceland slashes on strengthening króna
Central Bank of Iceland cuts rates by one percentage point as it prepares to buy foreign currency following króna gains
RBA minutes: inflation hits new low
Minutes of Reserve Bank of Australia’s August meeting show inflation fell to three year low in July
Why monetary base control can offer stability
There is a way of replicating the big achievements of the gold standard without going back to gold, argue Brendan Brown and Robert Pringle.
Fed toughens rules on consumer protection
Federal Reserve announces measures to protect mortgage borrowers from deceptive practices
Indian inflation back in single digits on back of Reserve Bank hikes
Official data on wholesale price index show inflation fell to 9.97% last month
Zambia’s Fundanga: cost of capital still too high
Bank loans within the reach of the masses, but interest rates remain prohibitively high
Bank of Japan – rate minutes (July 2010)
Monetary Policy Council all back rate hike; overcoming inflation “top priority task”
Interview: Donald Kohn
Blair Baker talked to Donald Kohn on 9 July about his career at the Federal Reserve, monetary policy, the crisis and the future of financial regulation.
Rate round-up: Chile ignores global tensions and hikes rates
Chile raises rates despite uncertainty in global recovery; Norway and South Korea hold; Ukraine cuts
Bank of Israel – Inflation Report (April-June 2010)
Israeli inflation set to remain in line with central bank’s target