Interest rates
Singapore looks to establish term RFR by 2020
Swaps linked to overnight rate will help create term structure, says industry committee member
Turkey launches second major rate cut
Central bank slashes further 325 basis points off main rate
‘Non-salient fees’ matter for mortgage pricing – BoE paper
Many borrowers appear to be less sensitive to fees than to interest rates, and firms exploit this
Poland keeps rates unchanged on lower global growth
Solid growth and strong demand push inflation slightly over target
Fed ‘boneheads’ wasting opportunity of a lifetime, Trump claims
Trump calls for negative rates and a longer balance sheet term structure
BIS paper tracks new channel for funding ‘dry-ups’
A squeeze in one market can spill over to institutions with no direct exposure, authors find
BoE paper models exchange rates with private money creation
Uncovered interest parity does a poor job of explaining exchange rates on its own, authors say
Riksbank maintains tightening plans despite lower rates globally
Sweden’s central bank adds it will increase rates at a slower pace than it planned earlier in 2019
BIS authors offer advice on escaping low inflation trap
Luiz Pereira da Silva and co-authors say “snapback” unlikely, given changing labour markets
Households respond more forcefully to rate cuts than QE – Dallas Fed
Fed should improve communications for QE and forward guidance, researchers say
RBI makes fresh bid to boost transmission mechanism
Banks mandated to link floating-rate loans to an external benchmark
Chile cuts rates again on lower inflation forecasts
Central bank reduces policy rate by 50 basis points to 2%; signals more stimulus may be needed
Fed economists propose alternative to floor system
Pre-crisis BoE framework may preclude need for further ‘technical adjustments’, researchers say
Argentine governor demands political consensus on macroeconomic framework
Sandleris says every election unleashes market volatility and disrupts stabilisation efforts
Inflation edges higher as Fed prepares for next meeting
Consumer spending boosts economy, but recent sentiment data suggests it could be about change
Bank of Mexico’s board disagreed on last rate cut – minutes
One board member opposed recent 25bp rate cut due to high inflation and uncertain fiscal outlook
Eurozone inflation to remain at 1% in August – official data
Below-target inflation may support loosening announcement by ECB on September 12
Israeli central bank faces hard choices, analysts say
MPC says Israeli currency’s strength is helping to keep inflation below target
China changes mortgage rates anchor to curb housing risks
Home loan rates may be set higher to avoid real estate bubbles as central bank seeks lower rates for rest of the economy
Bank of Jamaica cuts rates
Move aims to keep inflation within its target band
Iceland cuts rates again
Decision follows rate reductions in May and June, placing key rate at 3.5%
Fed should scrap apolitical stance, urges former senior official
Dudley says Fed should set rates with Trump’s re-election chances in mind
RBA open to unconventional policy measures – deputy governor Debelle
Quantitative easing may be on the cards if central bank cuts rates to 0.5%
Powell treads cautious line in Jackson Hole remarks
Chairman gives few clues to future policy; Trump appears unimpressed with the address