Monetary policy
Bank of Israel holds rate in divided policy meeting
Central bank willing to cut rates in future to boost below-target inflation
Borio and co-authors attack concept of natural interest rate
BIS paper sets out a model in which “monetary policy hysteresis” can do lasting damage to the economy
Central bankers without clothes and clout
The focus on the latest actions by central banks is disproportional to their impact on the economy. Without normalisation, central bankers may be revealed to have no clout, writes Jesper Berg
Schlesinger and Issing lead attack on ECB policies
Six senior former policy-makers call for tighter eurozone policy as Draghi’s term nears its end
RBA cuts rates to new record low
Australia’s central bank “prepared to ease monetary policy further” to meet inflation target
EMEs can resist spillovers with prudential policy – BoE paper
Some prudential policies work better than others, researchers find
Expectations and term premia both drive spillovers – BIS paper
Different components have greater impacts in advanced and emerging economies, authors find
RBI weighs reforms to liquidity framework
Report recommends retaining the corridor system and simplifying operations
Lautenschläger resigns early from ECB governing council
News fuels speculation over German opposition to looser monetary policy
Philippines central bank cuts policy rates for third time this year
Governor Diokno says benign inflation outlook provides more room for further rates reduction
Floating exchange rates cut inflation in Caribbean – IMF paper
Survey finds greater financial openness in Caribbean countries is associated with lower inflation
BoE paper explores collateral’s impact on labour market
Collateral value affects hiring decisions by small businesses, authors find
BIS’s Borio warns of ‘troubling’ negative yields
BIS quarterly review highlights new peaks in negative-yielding debt and examines CLO risks
Banks shy away from ECB’s first TLTRO III
Demand was “shockingly weak” says analyst, but firms are expected to increase their uptake in December
Costa Rica cuts rates for fourth time since March
Central bank adds to wave of more accommodative policy stances around the world
Rate round-up: Fed triggers further global easing
Fed cut prompts flurry of action, with many central banks hinting at a more dovish stance
Brazil cuts main rate to new record low
Policy-makers cite subdued inflation as they move rates down a further 50 basis points
Argentina sharply raises key rate floor to tackle rising inflation
Political uncertainty has boosted inflation since mid-August
Norges Bank bucks global easing trend with rate hike
Central bank’s third hike this year may be its last for some time, governor hints
Indonesia cuts rates for the third time in three months
Bank Indonesia has cut a total of 75bp this year after tightening 175bp in 2018
Fed cuts rates and makes further ‘technical adjustment’
Fed doesn’t see funding pressure episode having implications for its ability to control rates
Brazil expected to cut rates to new record low
Below-target inflation gives central bank space to boost weak growth, analysts say
Dominican Republic sells dollars to support peso
Dominican peso has been one of the stronger performers in the region
Zimbabwean rates hit 70% as inflation remains in triple digits
Central bank attributes rapid price rises to restructuring of the economy; rates will now be set by monetary policy committee