Monetary policy
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
IMF: loose monetary policy is fostering greater risk-taking
A crisis half as strong as in 2008 could send “corporate debt at risk” to $19 trillion, says the fund
Riksbank’s Ingves weighs post-crisis policy legacy
“Leaning against the wind” clashing with inflation target, communications challenges and cash’s decline have shaped the last decade
MAS makes rare policy tweak amid slowing global economy
MAS targets slower appreciation of Singapore dollar, the first such easing in more than three years
Trichet defends Draghi’s legacy against growing criticism
Former ECB president says unconventional monetary policy measures have helped to avoid deflation
Fed unveils plan for ‘technical’ asset purchases
New York Fed will buy Treasuries “at least into the second quarter of next year”
Draghi defends ECB policy
ECB president welcomes debate but insists crisis-fighting policies saved eurozone
Inflation in Mexico falls to target for first time since 2016
Minutes say officials acknowledge price increases are falling faster than previously anticipated
BoJ weighs further stimulus as tax hike bites
But central bank may be reluctant to add more stimulus while tax hike effects are uncertain
ECB governing council members disagreed over QE, minutes show
Members also differed over staff assessments of eurozone, but “large majority” backed rates move
ECB paper looks at market expectations of Fed policy
“Monetary policy slope” predicts changes in stock markets and professional forecasts – researchers
Big tech: a threat to banks?
The explosive growth of financial services offered by big tech companies in China offers important lessons
Central banks must use “unconstrained” negative rates, Rogoff tells ECB
Policy-makers must ensure cash depreciates against electronic money, or face failure, Rogoff says
BIS studies highlight limits to unconventional policy
Policies seen as broadly effective, but reports warn of spillovers and other unintended effects if the policies are used too much and for too long
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