Monetary policy
RBA eyes rate cut as growth and inflation disappoint
Trade tensions and weak household income hamper central bank’s previous plan to tighten policy
Book notes: The third pillar, by Raghuram Rajan
Rajan sets out an ambitious – but deliberately non-radical – manifesto for reform at the local level
SBP hikes to 12.25% as inflationary risks grow
Government has been borrowing heavily from central bank and rupee has weakened
Open and closed economy central banks react differently to inflation – research
Some economies respond more strongly to certain variables, Fernando Leibovici says
Senior Fed officials call for overshooting inflation target
Kashkari says Fed acted too early in tightening while Brainard says policy must meet ‘new normal’
Weidmann warns trade war likely to hurt US more than Germany
Bundesbank president says policy normalisation should continue
Norway’s revised budget adds to pressure for tightening
Analysts think higher public spending could reinforce Norges Bank’s tightening cycle
Trump urges Fed to help win the trade war
Fed’s Williams says tariffs are starting to wear on the economy
Cooling economic activity in China paves way for more stimulus
Policy-makers may turn to fiscal stimulus rather than monetary easing
Zhou on four key decisions that forged the modern-day PBoC
Former People’s Bank of China governor Zhou Xiaochuan shares his perspectives about four critical moments in China’s economic reform agenda
Education, education, education: designing a master’s in global central banking
The BoE’s Paul Fisher says there is a growing need for all-round central banking education
Nigerian president nominates Emefiele for second term as governor
Governor has been most important figure in Nigerian economic policy for last five years
San Francisco Fed researcher seeks to improve Phillips curve
Introducing an “interaction variable” can increase predictive performance, researcher says
Fed should consider yield curve targeting – Brainard
NY Fed research outlines how US central bank could target longer-run interest rates
Norges Bank governor says new hike rate ‘likely’ in June
Norwegian central bank holds rates, but Olsen says balance of risks means further hike is likely
Turkish central bank tightens monetary policy by the back door
Central bank tries to prevent currency falling amid political pressure not to raise policy rates
Market power is a ‘puzzle’, BoE team says
Micro and macro evidence do not seem to match up, the authors say
Philippines central bank cuts rates as Q1 GDP growth falls
Second country in Southeast Asia to ease monetary conditions after Malaysia
RBNZ cuts rates to new low on ‘subdued’ outlook
Central bank opts to cut the policy rate despite being broadly on target, citing “headwinds”
Rwanda slashes rates to record low of 5%
Governor predicts steady growth for the country
Macro-prudential and monetary policy work well together – ECB paper
Monetary policy can be used to cushion shocks caused by counter-cyclical buffers, researchers find
Williams favours average inflation targeting in new research
New York Fed president analyses three groups of inflation-targeting regimes
Malaysia cuts rates as inflation and PMIs slide
South-east Asian country’s inflation has been lower than 1% for several months, while PMI remains in contraction
The BoE’s education outreach programme
The Bank of England launched econoME last year to bring a practical understanding of economics to the classroom. Its aim is to make policy-making more effective in the future. It plans to extend its offering to schools by designing materials for younger…