Interest rates
New York Fed proposes three SOFR averages
Move is “important next step” in encouraging transition from Libor, official says
Turkish central bank supplies lire through stock exchange
Governor acknowledges unconventional short-term liquidity provision, as traditional repo operations come to a halt
Swiss governor rules out SNB transfers to pension funds
Negative rates are hurting sector but pension reform is solution, Jordan says
Brazil cuts rates to new record low as inflation drops
Rater-setters reduce key Selic rate by 50 basis points to 5%
Fed reduces rates but signals pause
Current stance of policy “likely to remain appropriate” to sustain moderate expansion, Powell says
Bank of Canada on hold but watching economy’s ‘resilience’
Governing council says economy is likely to be “tested” by trade conflict and uncertainty
Fed’s policy framework may incentivise reserves hoarding
However, this doesn’t seem to affect bank lending, Fed researchers find
Bank of Israel’s communication more accessible than Fed’s and ECB’s – research
In August, the central bank issued a special statement correcting forward guidance on lower inflation
Chile cuts rates again following weeks of protests
Below-target inflation requires more monetary stimulus, says the central bank
‘Never give up’: Draghi holds final monetary policy meeting
Outgoing ECB president says council issued a call for unity
Fed expands daily repo operations
Recent auctions show banks still have a strong demand for liquidity following last month’s rate spike
Indonesia cuts rates for fourth time this year
Indonesia has cut a total of 100bp in the latest cycle; more cuts are possible but depend on Fed move and rupiah stability
Tackling ‘dead-end’ monetary policy
A shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
Strong global forces pushing some central banks to buy gold – analysts
Poland’s move and others pushed by negative rates, political uncertainty and changing monetary system, experts say
IMF: loose monetary policy is fostering greater risk-taking
A crisis half as strong as in 2008 could send “corporate debt at risk” to $19 trillion, says the fund
Riksbank’s Ingves weighs post-crisis policy legacy
“Leaning against the wind” clashing with inflation target, communications challenges and cash’s decline have shaped the last decade
BoE’s Vlieghe: central banks must focus on ‘debt, demographics and distribution’
Risk-based approach could be helpful in thinking about the impact on rates, policy-maker says
IMF warns of ‘synchronised slowdown’ as it cuts forecasts
Fund revises down growth prospects for 2019–20 and calls for action on financial vulnerabilities
Bahamas takes steps towards digital currency as legal tender
Central bank proposes changes to governing law to give itself authority to issue a CBDC
St Louis Fed president calls for standing repo facility
Facility would solve “almost all” of the Fed’s problems in controlling rates, James Bullard says
New German ECB board member may help unify governing council
Leading candidates seen as capable of playing a more constructive role, as critics become more vocal
Inflation in Mexico falls to target for first time since 2016
Minutes say officials acknowledge price increases are falling faster than previously anticipated
BoJ weighs further stimulus as tax hike bites
But central bank may be reluctant to add more stimulus while tax hike effects are uncertain
There are better ways to solve China trade dispute – Atlanta Fed economist
It is “underappreciated” that the Chinese currency is devalued, Tao Zha says