Monetary policy
Bank of Zambia cuts rates as food crisis mounts
Zambian central bank calls for better government policy as drought causes sharp rise in food prices
Bank of Canada plans new emergency liquidity facility
Facility designed in response to new threats, such as cyber and extreme weather events
China trims new benchmark rate amid inflation dilemma
PBoC cuts one-year benchmark rates again, but surging inflation remains an issue
Liberian central bank cuts rates amid new banknote controversy
CBL warns of falling growth and rising inflation as confusion surrounds new banknote measure
Zimbabwe reverses policy stance, slashing rates to 35%
Monthly inflation continues uptick, but central bank halves policy rate
Powell meets Trump in the White House again
Fed makes one notable change to its statement, compared with February’s communication
RBA considered cut at latest meeting – minutes
Case was made for monetary easing, but board decided to adopt ‘wait-and-see approach’
Argentina’s currency controls help stabilise peso and reserves
Uncertainty about the fiscal policies of the incoming president is contributing to falling bond prices
Crypto assets may force central banks into policy synchronisation
Paper examines the impact a global crypto asset would have on the “impossible trinity”
The challenges facing Christine Lagarde
New ECB chief needs to lead a successful review of the ECB’s monetary and communications policy
Poloz: AI revolution calls for looser policy
Central banks can take lessons from Greenspan’s policy during IT revolution, governor says
Dutch governor warns of unconventional policy hazards
Knot also argues for expansionary fiscal policy and symmetrical inflation target
Bank of Mexico implements third rate cut of easing cycle
Divided board decides to lower key rate by 25bp to 7.5%; two board members voted for a 50bp cut
Egypt slashes rates by further 100bp
Sharp drop in inflation prompts easing by monetary policy committee
Dominican Republic faces monetary policy trade-off – IMF paper
Researchers say financial system is healthy, but central bank faces hard choices over policy
De Guindos says ECB ‘implicitly has symmetrical targeting policy’
ECB vice-president backs Macron plan for common eurozone fiscal policy
Powell says Fed is increasing work on climate change risk
“Climate change is an important issue, but not principally for the Fed,” Powell says
Italian banks exploit ECB tiering to sharply boost local deposits
Rush to exploit arbitrage opportunity is “interesting showcase” of fragmented markets, says Benoît Cœuré
Cash delay worsens Zimbabwe’s economic woes
Distribution delays add to shortage of notes, with the value of cash rapidly eroding
Research proposes ‘Monk’ model of long-term monetary transmission
Equilibrium in standard models only affected by short rates, say Garriga, Kydland and Šustek
Fed ramping up climate change research efforts – Lael Brainard
Climate change could impact neutral rate, governor says; Fed can’t afford to ignore the issue, San Fran Fed’s Mary Daly adds
People: Riksbank appoints new executive board member
Swedish central bank promotes Cecilia Skingsley to first deputy governor; FCA appoints three new board members; Nigerian president appoints former deputy governor as special adviser
New IMF chief maintains focus on unsustainable debt levels
Debt levels at all-time high and well over twice global GDP, Kristalina Georgieva warns
ECB’s Löber: Facebook’s libra a “black hole” of legal certainty
But current global standards fit for purpose to underpin digital assets