Monetary policy
Negative rates could lower inflation expectations – San Fran Fed paper
Japanese inflation expectations fell after BoJ introduced negative rates, researchers find
Fed should scrap apolitical stance, urges former senior official
Dudley says Fed should set rates with Trump’s re-election chances in mind
BdF paper looks at FOMC hawks and doves
Predictions of rate-setters with hawkish reputations often biased towards higher inflation – researcher
Communication has to be two-way – ECB’s de Guindos
Communicating with markets influences behaviour, affecting signals received in return, says vice-president; ECB has created new survey of consumer expectations
RBA open to unconventional policy measures – deputy governor Debelle
Quantitative easing may be on the cards if central bank cuts rates to 0.5%
Carney: digital currency could help fix global monetary system
A “synthetic hegemonic currency” could end the destabilising dominance of the dollar, BoE chief says
Agustín Carstens on fixing the global monetary system
The BIS chief speaks about how to strengthen the global safety net, vulnerabilities in emerging markets and the challenges and opportunities posed by fintech
No noticeable fund outflows amid protests – HKMA
Exchange Fund sufficient to back currency in case of capital outflows, HKMA says
Central banks face loss of independence – Central Banking survey
A new survey of Central Banking’s Editorial Advisory Board points to central banks facing existential challenges with little change in their frameworks or toolkits
Indonesian central bank cuts rates again
Central bank says it will boost economic growth as president pushes fiscal expansion
Overcoming deflation: Japan’s experience and challenges ahead
Bank of Japan governor Haruhiko Kuroda explains how Japan’s long battle against deflation may offer insights for the future conduct of monetary policy at other central banks
Fund structures are ‘a big issue’ for monetary system – Carney
Immediate redemptions risk amplifying capital flow volatility
Fischer and Hildebrand call for emergency policy tools
Former central bank chiefs say existing monetary tools are “almost exhausted”
The Fed’s trade policy dilemma
FOMC should loosen, but members must speak out more forcefully against tariffs, writes Barry Eichengreen
PBoC reforms rates mechanism in bid to cut funding costs
Loan prime rate will replace existing benchmark lending rates
Bank of Portugal paper assesses unconventional policy
Forward guidance and asset purchases had significant effects on equities markets – researchers
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail and use of CCyBs, highlights challenges of an asymmetric monetary system, hits out at cumbersome payments and warns Facebook’s libra cannot ‘learn as…
PBoC goes back to open market operations
Official figures show sharp drop in new loans extended by Chinese banks in July
Bank of Finland paper studies impact of China’s credit channel
Monetary policy’s effects on credit have significant impacts on economic activity, researchers say
Negative ECB deposit rate had limited effects – Bundesbank paper
Well-capitalised banks in core countries responded most to negative rates, researchers find
MAS policy stance unchanged despite falling growth
Singaporean government cuts growth forecasts as analysts predict October rate cut
People: Brazilian government nominates World Bank official for deputy governor role
Sri Lanka names monetary policy board member; Bank of Ghana governor appointed to FSB role
Rate cuts support Australia’s economy – RBA assistant governor
RBA cuts rates to record lows in two successive months as GDP growth slows
The IMF should adopt a ‘real SDR’
The creation of a vibrant market in SDR linked to commodity prices could create a powerful new monetary anchor, argues Warren Coats