Interest rates
Argentina reduces key rate floor again
New governor thinks ultra-tight financial conditions failed to tackle high inflation
Riksbank minutes show disagreements over December rate hike
Dissenting board members cite looser international policy, weak growth and below-target inflation
New York Fed launches longer-term liquidity fix
Markets desk tells overseas central banks that foreign repo pool rate will be revised
Ageing populations will keep interest rates low – BdF paper
Housing availability can attenuate decline in rates, authors find
Fed governors are losing influence, financial historian argues
Peter Conti-Brown examines the eroding influence of the democratically accountable members of the FOMC
Higher oil prices dampened impact of Fed spillovers in Gulf – IMF paper
Changes in Fed rates likely to have minimal impact on GCC growth with current oil prices, researchers say
Lagarde awards Schnabel key policy role in renewed ECB board
Panetta leads market infrastructure and payments, banknotes and international relations
Crises are non-linear, beware high debt levels – research
IMF paper warns against complacency on high debt levels
Rates have been falling for eight centuries – BoE research
Study casts doubt on major theories, including secular stagnation; author warns rates could “soon enter permanently negative territory”
Fed avoids year-end cash crunch
Repo market shows barely a ripple over New Year’s Eve after Fed injects a quarter of a trillion dollars
Markets surge as PBoC cuts RRR
Cut designed to support the flagging economy; PBoC insists it is retaining “sound” policy
Macroeconomics is not broken
The discipline has moved beyond the neoclassical synthesis. Critics should too
Schnabel and Panetta appointed ECB executive board members
The final distribution of responsibilities in January will determine the new members’ portfolios
Argentina lowers key rate floor
New governor aims to abandon ultra-tight financial conditions
Bank of Mexico cuts again as growth remains sluggish
Board says economic weakness is likely to persist
BoE holds rate, but two officials vote for cut
Policy-makers note gloomy backdrop and signs that the labour market is “loosening”
Central banks need to avoid dependence on markets, officials say
ECB and Fed officials reflect on relation between bond market expectations and their policy decisions, in farewell conference for Benoît Cœuré
Australian dollar falls as RBA keeps rate cut on agenda
Central bank willing to provide more stimulus after economic reassessment due in February 2020
Turkish central bank slashes rates for fourth time straight
Move was larger than many had expected, and comes as inflation re-enters double digits
Brazil lowers rates to record-low 4.5%
Weak growth requires interest rates “below the structural level”, says the central bank
FOMC calls halt to cutting cycle
Unanimous decision keeps rates on hold; Powell signals no move likely for some time
Brazil likely to end easing cycle with 50bp rate cut
Record-low rates will suffice to boost growth in 2020; inflation up on weaker real
Paul Volcker, 1927–2019
The Fed chair made his name battling inflation, and left his mark on independence and post-crisis financial regulations
Argentinian president appoints new governor
Miguel Angel Pesce rejects high interest rates as means of reducing inflation and backs price controls