Monetary policy
European central bankers see room for fiscal-monetary co-operation
Pandemic showed it was “critical” for both policies to work together, say central bank governors
BoE tells firms to prepare for negative rates
Preparation is not a signal that negative policy rates will be adopted, Bailey stresses
Eurozone inflation jumps to 0.9% in January
Analysts argue sharp increase was pushed by German tax increase and statistical changes
IMF grants Tonga $10 million emergency loan
Fund’s Article IV report expresses concern about banking sector; predicts GDP contraction
IMF encourages Bahamas central bank to launch asset registry
Recent initiatives to manage credit have been hampered by bottlenecks, IMF report says
Colombian central bank holds rates under new governor
Interest rates remain at 1.75%, a record low; board split in a 5–2 vote
Ulrich Bindseil on the launch of the digital euro
The ECB’s director-general for market infrastructure and payments speaks about the functionality, tiering approaches, privacy policies, ledger technology and ecosystem impact of the eurozone's planned CBDC
Bank of Mozambique hikes policy rate by 300 basis points
MPC cites Covid-19, conflict and natural disasters as it orders increase
Fed on hold in first policy meeting under Biden administration
Unanimous vote comes amid signs of possible further fiscal stimulus; new voting members join FOMC
Brazil’s inflation still above target in January
Early reading recorded at 4.3%, adding pressure to tighten policy
ECB steps up work on climate change
Central bank launches climate change centre and invests in new BIS green bond fund
Talking to firms aids central banks at ‘turning points’ – BoC paper
Qualitative information is particularly useful when timely official data is lacking, authors say
Brazil’s MPC removes forward guidance
Rate-setting committee forecasts it will raise policy rate by 125bp during 2021
Eurozone bank credit tightens despite ECB stimulus
Banks expect credit to further tighten during the first quarter of 2021
Romanian central bank cuts rates as inflation falls
National Bank of Romania says inflation is below midpoint of target level
Promoting fintech might reduce inequality – BIS’s Pereira da Silva
Inequality harms policy transmission, but technology may help, deputy general manager says
BoE must improve understanding of QE – report
Lack of understanding has prevented BoE’s ability to build public trust in new policy tool, report says
Bank of Lithuania paper explores spillovers of US policy uncertainty
Authors find “significant recessionary and deflationary effect” and synchronous response worldwide
ECB says new data highlights stabilising effect of inflation expectations
Analysts argue that new approach to analysing surveys has “important practical advantages”
BoE’s Tenreyro says negative rates likely to work in UK
Looser monetary policy might help limit “scarring” to the economy, says MPC member
Fed’s Clarida says vaccine rollout has ‘brightened’ 2021 economic outlook
Rising Covid cases are downside in near term, but economy should bounce back, says vice-chair
Firms and households form inflation expectations very differently – paper
Confidence in economy has strongly divergent effects, Central Bank of Ireland research finds
The changing data landscape: Part 1
Central Banking speaks to Eyal Rozen, Ramūnas Baravykas and Wanpracha Chaovalitwongse about whether there is a need to change underlying infrastructure to bolster data-driven policy-making
US may face ‘jobless recovery’ despite huge stimulus
Economists warn fiscal stimulus has been poorly targeted; Ben Bernanke defends Fed policy