Monetary aggregates
Pay attention to monetary aggregates: Canada’s Macklem
Bank of Canada senior deputy governor Tiff Macklem says interest rate transmission blockages make money, credit data key in crisis; adds voice to growing chorus of central bankers
Argentina lets non-banks into debt sale
Argentine central bank throws open note auction to companies, allowing them to circumvent secondary markets; move linked to rapid expansion of money supply
Monetary aggregates remain about price, not financial, stability: ECB’s Stark
ECB Executive Board member Jürgen Stark says critics-cum-champions of monetary analysis are wrong once more about the true purpose
Follow the money
Monetary aggregates are set for a comeback in central banking, but as indicators of financial instability, not inflation. Claire Jones reports
Interview: Otmar Issing
The architect of the ECB’s monetary policy framework talks to Robert Pringle about his new book and the challenges central bankers face at the moment