Interest rates
DNB paper looks at eurozone’s interest rates
Paper looks at effects of ECB monetary policy shocks on bank equity prices from 1999 to 2020
Bank of Israel increases size of QE programme
Yaron calls on government to act on worsening economic outlook as Israel suffers “second wave”
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Banking sector resilience ‘likely to be tested’ – IMF’s Adrian
Fund’s stability report says vulnerabilities are high and rising, creating difficult policy choices
Unemployment is a national priority, says RBA’s Lowe
Central bank’s latest data shows unemployment at 7.5%
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
Argentine peso falls after central bank changes regime
Spread with unofficial exchange rate widens further
BIS’s Borio: natural rate puts central banks in ‘straitjacket’
Official urges policy-makers to take “broader view” of the costs and benefits of monetary policy
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
Covid-19 fails to interrupt asset diversification – survey
Lower yields remain the top worry of reserve managers in 2020, study finds
RBI postpones MPC meeting after failure to appoint new members
Committee falls below quorum at a difficult time for the Indian economy
Bank of Mexico cuts rates again despite above-target inflation
President refuses to increase fiscal support package, citing danger of sovereign debt crisis
Norges Bank holds rates over Covid-19 fears
Norwegian central bank expects rates to remain unchanged over the next two years
Is there a rift in the ECB governing council?
Mixed messages from Christine Lagarde were followed by sharp divergence among board members
RBNZ hints at further stimulus by the end of the year
Central bank says banking sector is on track to be prepared for negative rates
Riksbank signals rates likely to stay at zero for several years
Central bank does not forecast negative rates, but doesn’t rule them out
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
Ethiopia launches new high-denomination banknote
New 200 birr note aims to curb inflation and corruption, central bank says, as Covid-19 slows growth
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
Judging scarcity of reserves depends on Treasuries outstanding – paper
Increase in short-term Treasuries causes money markets to behave, as there is a scarcity of reserves, researchers find
Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
Klaas Knot on ECB policy-making, the FSB and central bank ‘capture’
DNB president talks about the temporary nature of unconventional policies, the importance of inflation target ‘bands’, the role of central banks as ‘circuit-breakers’ and ECB decision-making under Christine Lagarde
Japan’s economy needs bolder policies
PM Abe announces decision to step down with many goals still unachieved