Monetary policy
Most central banks communicate in at least two languages
Central banks must weigh challenge of translating sensitive messages against reach
The ECB’s monetary policy strategy review
The ECB’s founding monetary policy architect, Otmar Issing, offers some initial perspectives on the ECB’s strategy review
Chile’s central bank starts tightening cycle
Board votes to increase rates by 25bp amid rapid recovery and above-target inflation
Senior Fed officials differ on taper
Powell stands firm, but two regional presidents suggest a sooner-than-later approach
Bank of Canada continues taper
Central bank reduces QE by one-third to $2 billion weekly, but keeps interest rates stable
RBNZ calls halt to quantitative easing
Central bank has bought considerably less than its NZ$100 billion limit
US faces surge in actual and expected inflation
Data shows 5.4% CPI inflation over past year and consumers expect 4.8% rise over next
ECB’s new target not expected to influence Denmark’s policy
Danish central bank agrees with ECB that climate change may impact price and financial stability
New inflation target set to bind ECB to ‘lower for longer’ strategy
Symmetric 2% target should allow council to boost APP purchases as Pepp is phased out, say analysts
FOMC minutes show some disagreement on inflation
Some participants think US inflation pressures may continue into 2022
ECB adopts 2% symmetric inflation target
Central bank chooses not to follow Federal Reserve’s lead on average inflation targeting
BdF paper analyses inflation tolerance ranges
Ranges “should not be zones of inaction” and may have unfavourable trade-offs, researchers say
Somalia’s governor on rebuilding its central bank
Governor Abdirahman Mohamed Abdullahi discusses reviving Somalia’s war-damaged economy, re-creating a payments system, and dealing with remittances
ECB likely to shy away from AIT in new monetary policy framework
Symmetric 2% target is expected outcome; governing council members struggle to agree on forward guidance
RBA adjusts yield curve control as economy recovers
Australia “no longer looking over a cliff”, says governor Philip Lowe
Inflation reports more frequent than financial stability reports
Clear majority of central banks also use ‘layering’ in key publications
Turkish central bank has fired large number of staff, report says
Journalist says “political appointees” are joining bank in unprecedented numbers
IMF agrees with Fed on ‘transitory’ inflation
Georgieva says recent inflation spike likely to pass; supports Biden’s fiscal plans
Seychelles central bank cuts policy rate by 100 basis points
Central bank considers weak economy more a concern than high inflation
BoE paper models impact of ‘active’ fiscal policy
Active fiscal policy complicates monetary policy but can generate higher welfare, author says
Central banks leverage multimedia communication channels
Around a third have added podcasts, mobile apps and blogs to their comms repertoire
US unemployment rate stable at 5.9%
Little sign of ‘substantial further progress’ FOMC wants to see before taper
NY Fed’s reserve repo facility marks new record
Banks and funds park almost $1 trillion with New York Fed accounts paying 0.05%
Riksbank maintains loose policy
Swedish central bank says it will fully use Skr700 billion portfolio of asset purchases