Monetary policy
BIS’s Borio warns interacting financial cycles destabilise global system
Domestic and global cycles interact and amplify one another, BIS official says
BoE redesigns inflation report
New design intended to give MPC more flexibility in emphasising changing circumstances
Fed likely to ‘institutionalise’ policy framework review, Powell says
Move would likely be akin to the Bank of Canada’s routine five-year review
Brazil cuts rates to new record low as inflation drops
Rater-setters reduce key Selic rate by 50 basis points to 5%
Bank of Canada on hold but watching economy’s ‘resilience’
Governing council says economy is likely to be “tested” by trade conflict and uncertainty
BoE’s Tenreyro comes to the defence of flexible exchange rates
Policy-maker challenges conventional wisdom in several areas of economics
Global economic problems beyond scope of central banks – Hubbard
Economist calls for government-led structural reforms in Chicago Fed discussion
Fed’s policy framework may incentivise reserves hoarding
However, this doesn’t seem to affect bank lending, Fed researchers find
Ukrainian central bank cuts rates as inflation falls
NBU raises predicted growth rates and says core inflation is falling
Bank of Israel’s communication more accessible than Fed’s and ECB’s – research
In August, the central bank issued a special statement correcting forward guidance on lower inflation
IMF paper tracks Asian authorities’ responses to volatile capital flows
Monetary policy typically responds to several variables in pursuit of greater stability, analysis finds
Chile cuts rates again following weeks of protests
Below-target inflation requires more monetary stimulus, says the central bank
‘Never give up’: Draghi holds final monetary policy meeting
Outgoing ECB president says council issued a call for unity
CBRT slashes rates again as inflation enters single digits
Central bank makes further sizeable cut as inflation hits lowest level for over two years
Indonesia cuts rates for fourth time this year
Indonesia has cut a total of 100bp in the latest cycle; more cuts are possible but depend on Fed move and rupiah stability
Fed paper looks at US spillovers to foreign government debt yields
Fed has “economically large” impact on some dollar-denominated bond yields, researchers find
Dutch pension funds hit by low interest rates, says DNB
Today, 63% of funding ratios are below the statutory minimum
German government to nominate Isabel Schnabel to ECB’s board
Economist is considered more capable of influencing monetary policy than previous German officials
Eurozone fiscal policy needs to change – DNB governor
Klaas Knot says evidence points to need for aligning monetary and fiscal policy
Croatian governor warns ECB spillovers are raising real estate prices
IMF should advise less separation between macro-prudential and monetary tools, Boris Vujčić says
King calls for radical shake-up to escape ‘low-growth trap’
Central bank models fail to appreciate demand-side secular stagnation; IMF could help to drive country-specific policies to reallocate resources
ECB monetary policy statements should change – Italian governor
Visco rejects idea of putting names to votes as eurozone governors differ on inflation policy
Tackling ‘dead-end’ monetary policy
A shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
Bank of Korea cuts rates back to record low
Governor hints at further cuts after year-on-year inflation entered negative territory in September