Interest rates
Kansas City Fed: QE effective at zero bound
Kansas City Federal Reserve study shows quantitative easing is effective at lower interest rate bound
BoK minutes: Holding rates could cause economic imbalances
Bank of Korea Monetary Policy Committee minutes show decision to hold rates was not so clear cut
Monetary policy has scant impact on commodity prices
European Central Bank research finds the impact of monetary policy on prices is rather limited, though statistically significant
Central Bank of Turkey – Inflation Report (July 2010)
Central Bank of Turkey’s Inflation Report for July showed lending in credit markets picked up after yields on government debt fell
Expansionary policy commitment redundant: Norges Bank
Norges Bank study says low interest rate rhetoric at central banks ineffective under neo-classical Phillips curve model
Central Bank of Sri Lanka – Annual Report (2009)
Sri Lankan central bank’s Annual Report for last year says country’s escape from high inflation allowed it to focus efforts on growth
CEPR: Central banks stuck in interest rate trap
Centre for Economic Policy Research study says central banks will inevitably end up in a low interest rate trap during a crisis
Canada’s Carney explains rate hike
Bank of Canada governor Mark Carney says decision to hike rates was due to unexpected improvement in private demand
Tax increase creates dilemma for BoE policymakers
Bank of England hints at further stimulus despite signs inflation will remain high on the back of value added tax hikes
BoJ’s accommodative policy will be consistent, say minutes
Bank of Japan minutes show central bank will press ahead with accommodative polices to tackle deflation in economy
RBA rate hold linked to European stability concerns
Minutes of Reserve Bank of Australia’s rate meeting show developments in Europe led board to keep rates flat
Bank’s Sentance explains vote to raise rates
Bank of England Monetary Policy Committee member Andrew Sentance says evidence of a marked recovery motivated decision to begin process of normalising rates
Korean growth revision a sign of further hikes to come, say analysts
Analysts say Korean central bank is likely to raise rates further after it forecast higher growth in 2010
Hikes in Asia as region shrugs off euro sovereign debt concerns
South Korea and Malaysia raise rates on inflation fears, Australia signals intent to continue tightening; elsewhere Riksbank tightens
Iceland’s Sighvatsson offers guidelines on how to apply new Supreme Court law
Central Bank of Iceland deputy governor Arnor Sighvatsson introduces guidelines to financial institutions on non-binding clauses linking loans to exchange rates
NIESR director to succeed Kate Barker on MPC
Martin Weale set to join Bank of England’s Monetary Policy Committee in time for August meeting
Interview: Charles Plosser
President of the Philadelphia Federal Reserve tells Central Banking Publications why central banks must review how monetary policy translates into inflation; warns against viewing monetary institutions as omnipotent
Bank’s Sentance in shock call to raise rates
Arch hawk argues inflation risks warrant quarter-point hike in rates
Riksbank study finds rate-setting board too large
Riksbank study on monetary policy committees finds Sweden’s Executive Board is not as effective with six members
Rate-setters decide on premise rather than conclusion: Riksbank
Riksbank research shows decisions based on premise rather than conclusions are preferred during tied Monetary Policy Committee votes
RBA minutes show central kept rates unchanged over euro fears
The Reserve Bank of Australia’s board kept rates on hold at 4.5% amid uncertainty over Europe’s fiscal position
Bank of Japan details direct lending programme
Central bank outlines $33 billion quasi-fiscal programme to support economic growth; analysts say measure is a political gesture
Bank of England - Quarterly Bulletin (Q2 2010)
Bank's Quarterly Bulletin says yields on UK gilts fell in the last quarter due to lower expected future interest rates
External debt could prove perilous: NZ’s Bollard
Reserve Bank of New Zealand governor Alan Bollard cautions that the country faces external debt imbalances; calls for deficits to be slashed below 5% of GDP