Monetary policy
ECB prevented further eurozone deflation, BdF paper says
Researchers say inflation and GDP growth would have entered negative territory in 2015–17
Fed must account for spillovers of monetary policy – Yellen
Janet Yellen reflects on Fed monetary policy and “treacherous” currency manipulation in Brookings podcast
Philippine central bank handed new stability powers and mandate
Act removes money supply and credit as determinants for monetary policy
RBA’s board stresses uncertain outlook in latest minutes
Trade tensions, slower Chinese growth and local consumption outlook behind policy decision
The Brexit conundrum
Bank of England has only limited room to respond to hard Brexit
Egypt sharply cuts rates on lower inflation
Central bank reduces key overnight deposit rate by 100 basis points to 15.75%
The answers to the 2018 Central Banking Christmas quiz
We reveal the answers to the Christmas quiz, and the winner
PBoC issues 20 billion yuan of central bank bills in Hong Kong
Bills could help improve the yuan-denominated bond yield curve
RBNZ adopts new dual policy target
New Zealand’s central bank will now have maximum employment target alongside inflation goal
BoE’s Vlieghe says bleaker outlook calls for more cautious policy
Weaker growth and Brexit uncertainty imply one or two hikes a year may be too fast, he says
Five digital currency questions for central banks
Central bankers need to take a view on the ongoing disruption to monetary systems, argues Adam Csabay
Fed to finalise balance sheet plans in upcoming meetings – Mester
Discussions over final size and future use of the balance sheet underway at the central bank
Riksbank maintains normalisation plans despite global slowdown
Next rate hike still expected in the second half of 2019
RBNZ keeps options open as rates stay on hold
Next rate move “could be up or down” says governor Adrian Orr
Lower Chinese demand helped slow eurozone growth - ECB’s de Guindos
Political uncertainty also helping to reduce growth, says ECB vice-president
US expectations key influence on inflation - San Francisco Fed paper
Fed must maintain inflation expectations around target, researchers say
Zhou Xiaochuan wins 2019 lifetime achievement award
The former PBoC governor served for a record 15 years, implementing sweeping reforms
Lifetime achievement: Zhou Xiaochuan
Former PBoC governor stands out for his high levels of integrity, intellectual rigour and bold reforms
Balance sheet normalisation has put upward pressure on borrowing costs – Kansas Fed
Levels of reserves still influences borrowing costs despite post-crisis monetary policy framework
Riksbank faces changed circumstances in first meeting since December hike
Dissenting deputy governor Per Jansson won’t attend due to personal reasons
Monetary policy must respond aggressively to persistent shocks – BoI paper
Researchers model economy where central bank has less information than private firms
Negative rates could have sped up US recovery – San Fran Fed paper
Output gap could have been reduced by as much as half compared to actual figures, researcher says
BoE offers bleak forecasts as Brexit 'fog' deepens further
Rates stay on hold as central bank eyes growing damage from Brexit uncertainty
Unconventional policy should be used rapidly – Fed paper
Researchers find 20–50% chance that US will face zero lower bound in next decade