Monetary policy
US payrolls data proves strong
Non-farm payrolls beat expectations and wage growth rises, despite fears of a global slowdown
Icelandic central bank questions reform proposals
Publishing rate paths may not work as intended, external MPC members warn
Fed independence under renewed fire from Trump
President unlikely to be able to fire Jerome Powell but could exert pressure in other ways, say observers
Low rates can encourage risk-taking – BoE paper
Author models the risk-taking channel of monetary policy alongside a “bankruptcy channel”
2018: The year in review
The past year marked a return to instability, but also saw some innovations among central banks
The PBoC’s efforts to solve the ‘impossible trinity’
Chinese central bank intervenes to manage offshore renminbi rate; uses swaps, rather than selling reserves in latest currency interventions
Bank of Mexico raises rates on high inflation and policy uncertainty
The governing board increased the policy rate by 25 basis points to 8.25%
Book notes: Keeping at it, by Paul Volcker with Christine Harper
Volcker, a man who has made history, delivers a fascinating memoir, providing insights into the key lessons learned during his decades of public service, writes Jean-Claude Trichet
Riksbank implements first rate hike since 2011
Split executive board reduces inflation forecasts for 2019 and 2020
Indonesia holds rates on solid growth and stronger rupiah
Higher rates through 2018 have attracted capital and helped keep inflation on target
BoE warns Brexit uncertainties have ‘intensified’ as rates stay on hold
Brexit “weighing” on UK markets; committee votes unanimously to keep rates on hold
Fed goes ahead with fourth hike of 2018
Policy-makers vote for hike despite volatility, but dovish language suggests growing caution
Bank of Thailand increases rates for first time since 2011
Monetary policy committee lifts main policy rate by 25 basis points to 1.75%
Fed’s communications may outweigh rate changes – Bundesbank paper
Researchers look at impact of Fed announcements and policy changes from 1994 to 2008
Hélène Rey offers advice on achieving monetary ‘emancipation’
Authorities may have to consider capital controls to break free from global financial forces, economist says
Mozambique resumes cutting cycle on lower inflation
Prices continue to fall within single digits, but concerns around public debt leave central bank on high alert
Brazil to provide more information on policy decisions from 2019
Central bank holds key Selic rate at 6.5% on volatile financial markets and stable inflation
Fed presidents weigh in on December rate decision
Incoming data and recent speeches point to slightly more dovish outlook
Fragility of forex market stays SNB’s hand
Central bank maintains Libor rate target and negative policy rate
Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
An important overview of the current state of thinking about macro-prudential policy, but uncertainties remain about the current allocation of financial stability responsibilities
Philippines central bank rewarded for aggressive policy action
Soaring inflation slows amid aggressive rate hikes and easing oil prices
RBNZ launches climate change strategy
New Zealand joins international group of central banks aiming to meet Paris agreement goals
Lower oil prices and stronger lira send Turkey and Argentina diverging
In 2019, analysts expect inflation to drop sharply in Argentina and to bounce back in Turkey
EME central banks can counter the next downturn
Philip Turner urges central banks to consider a broad range of actions to tackle volatility stemming from currency mismatches