Monetary policy
IMF staffers warn of looming sovereign debt crises
Governments and markets should agree to extend bond maturities, IMF says
Brazilian central bank interrupts rate-cutting cycle
Monetary policy committee says space for further monetary stimulus “should be small”
People: Shelton unlikely to have enough votes for Fed role
Judy Shelton’s nomination in doubt; Fed appoints new director of monetary affairs; Bermuda Monetary Authority promotes insurance director
ECB has ‘no room for complacency’, Lane says
Chief economist stresses ECB is ready to expand stimulus after Lagarde appeared to downplay risks
ECB leaves policy unchanged
Lagarde says she will not comment on euro’s exchange rate against the dollar
Central Bank of Brazil launches climate change agenda
Proposals include creation of sustainable liquidity facility and adding climate factors to reserves management
Central Banking’s strategic changes for a new era
New institute, benchmarks, virtual training and online event weeks launched
BoE officials fear long-term ‘scarring’ as uncertainty hits record high
MPC members broadly gloomy on the outlook, but there is “huge” uncertainty, says Andrew Bailey
A fiscal alternative to stabilise the post-Covid economy
Columbia professor Michael Woodford calls on policy-makers to think beyond interest rates
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, says Stephanie Aaronson
Influential Fed economist Thomas Laubach dies
Current and former Fed officials pay tribute to the US central bank’s German influencer, who died on September 2
Judging scarcity of reserves depends on Treasuries outstanding – paper
Increase in short-term Treasuries causes money markets to behave, as there is a scarcity of reserves, researchers find
Broadbent dismisses concerns over monetary financing
High debt and aggressive easing do not equate to monetary financing, says Bank of England deputy
Fed feeling its way with new inflation framework
Average inflation targeting is broadly dovish, and could see rates stay lower for even longer
‘Strict inflation targeting is past its expiry date’ – Klaas Knot
DNB president stresses the limits of central banks’ ability to micromanage inflation
Colombia cuts rates to record-low 2%
Below-target inflation allows new central bank action to boost growth
Raising inflation expectations may depress growth – Jackson Hole paper
More nuanced communication would help public understand state of the economy, say researchers
Record-low inflation may require ECB to boost PEPP purchases
HICP index expected to decline year on year by 0.2% in August; core inflation at record-low 0.4%
BoE open to heterodox tools in new research agenda
Traditional tools of economic analysis “cannot always answer every question”, says Andrew Bailey
Uncertainty hampering Fed’s and Congress’s stimulus
Research says uncertain outlook created by pandemic has been a key contributor to size of recession
Don’t wait too long to normalise balance sheets – Bailey
Central banks need to unwind balance sheets when tightening policy, BoE governor warns
Central bank comms need “second sea change” – Canadian governor
Pandemic has shown importance of transparency and communications, Tiff Macklem says
ECB ready to adjust its policy instruments – Philip Lane
MAS chairman warns that post-pandemic labour markets will need new public policies
Bank of Korea forecasts GDP will contract by 1.3%
Central bank leaves interest rates on hold but says growth outlook remains uncertain