Monetary policy
PBoC issues 20 billion yuan of central bank bills in Hong Kong
Bills could help improve the yuan-denominated bond yield curve amid a lack of liquidity in the Dim Sum bonds market
RBNZ adopts new dual policy target
New Zealand’s central bank will now have maximum employment target alongside inflation goal
BoE’s Vlieghe says bleaker outlook calls for more cautious policy
Weaker growth and Brexit uncertainty imply one or two hikes a year may be too fast, he says
Five digital currency questions for central banks
Central bankers need to take a view on the ongoing disruption to monetary systems, rather than simply expecting the issue will go away, argues Adam Csabay
Fed to finalise balance sheet plans in upcoming meetings – Mester
Discussions over final size and future use of the balance sheet underway at the central bank
Riksbank maintains normalisation plans despite global slowdown
Next rate hike still expected in the second half of 2019
RBNZ keeps options open as rates stay on hold
Next rate move “could be up or down” says governor Adrian Orr
Lower Chinese demand helped slow eurozone growth – ECB’s de Guindos
Political uncertainty also helping to reduce growth, says ECB vice-president
US expectations key influence on inflation - San Francisco Fed paper
Fed must maintain inflation expectations around target, researchers say
Zhou Xiaochuan wins 2019 lifetime achievement award
The former PBoC governor served for a record 15 years, implementing sweeping reforms that have reshaped the Chinese economy
Lifetime achievement: Zhou Xiaochuan
The former People’s Bank of China governor stands out for his high levels of integrity, intellectual rigour and bold reforms that have served the public interest in China and elsewhere
Balance sheet normalisation has put upward pressure on borrowing costs – Kansas Fed
Levels of reserves still influences borrowing costs despite post-crisis monetary policy framework
Riksbank faces changed circumstances in first meeting since December hike
Dissenting deputy governor Per Jansson won’t attend due to personal reasons
Monetary policy must respond aggressively to persistent shocks – BoI paper
Researchers model economy where central bank has less information than private firms
Negative rates could have sped up US recovery – San Fran Fed paper
Output gap could have been reduced by as much as half compared to actual figures, researcher says
BoE offers bleak forecasts as Brexit 'fog' deepens further
Rates stay on hold as central bank eyes growing damage from Brexit uncertainty
Unconventional policy should be used rapidly – Fed paper
Researchers find 20–50% chance that US will face zero lower bound in next decade
RBI unexpectedly cuts rates as elections loom
Inflation lowest for 18 months, but cut will be welcome to Modi administration; governor refuses to answer political influence question
Low rates can harm productivity, say Liu, Mian and Sufi
Low rates may end up discouraging investment across the economy, authors say
ECB policy affects Eastern European economies – Bank of Italy paper
Researcher uses “shadow interest rate” methodology to measure monetary policy spillovers
A dual-currency system would make negative rates work – IMF research
Proposal would free monetary policy from lower zero bound when dealing with a recession
Central Banking Awards: governor and central bank of the year unveiled
Karnit Flug and the Monetary Authority of Singapore win accolades
Powell joins Trump for dinner at the White House
Fed puts out statement, as meeting follows regular criticism of the Fed’s interest rate path from the president
RBA governor does not rule out a rate cut in 2019
Uncertain international outlook has rebalanced policy options towards a looser approach