Monetary policy
Turkey acknowledges reserves build-up necessary to stabilise lira
Currency plummeted on March 22 on weak global economic data
Paraguay cuts rates on global instability
Central bank reduces interest rates by 25 basis points to 4.75%
RBNZ paper seeks high-speed labour market indicator
“Midas” approach can help build picture of current state of labour markets, say economists
Podcast: Greg Kaplan on heterogeneous-agent models
Monetary and fiscal policy are much more closely connected than many central banks would like
Swiss National Bank sharply lowers inflation expectations
Central bank may have reached limits of monetary policy, observer argues
BoE on hold as Brexit weighs on outlook
Policy-makers point to weak investment and continued uncertainty
Norwegian central bank hikes rates as inflation rises
Central bank increases the policy rate by 25 basis points to 1%, despite global uncertainty
FOMC cuts rate projections as Powell warns of slowing growth
Federal Reserve’s rate-setting body projects slower inflation, higher unemployment
Fed set to end quantitative tightening in September
FOMC will also slow the pace of its balance sheet reduction programme from May
Should central banks be more aggressive on climate change?
Discussion weighs up whether central banks should take more drastic action via monetary policy channels, but some warn they may overreach
PBoC improves policy communication
Central bank revamps English website and appears to address market concerns more frequently
IMF supports Argentina’s efforts to tame inflation
The central bank extended its monetary base targeting after inflation rose sharply in February
NGDP target can create ‘divine coincidence’ – Bullard and Singh
Nominal GDP targeting can “repair” distortions from credit market frictions, authors find
Brazil’s Campos Neto calls for independent central bank
President Jair Bolsonaro promised formal central bank independence during 2018 campaign
Argentina toughens monetary targeting on higher inflation
Government to send bill to parliament to prohibit central bank from financing the Treasury
BIS to launch ‘innovation hub’ – Carstens
New medium-term strategy focuses on technology and other innovations
Developed world needs fiscal boost – Romanian deputy governor
Once wages recover pre-crisis level, inflation will rise fast, research finds
Turkey’s monetary policy will depend on fiscal caution, central bank says
Minutes say MPC could further tighten policy if the government fails to deliver on promises
Summers and Rachel set out fresh evidence on secular stagnation
Policy-makers may need to rethink their approach in a world of ultra-low real rates, authors say
Climate change matters for monetary policy – RBA’s Debelle
More frequent and acute climate disruptions need inclusion in economic models
NY Fed activates motion to dismiss TNB’s lawsuit
“The relief TNB seeks is wholly incompatible with the public interest” – New York Fed
IMF urges Bank of Korea to pursue ‘accommodative policy stance’
Fund urges central bank to implement “light” macro-prudential policies
BoE economists find CBDC could permit helicopter money
Helicopter drop could be feasible without losing control of rates but may still be unwise, authors say
Fed IOER amendment aimed at ‘thwarting’ The Narrow Bank
The move appears to specifically target The Narrow Bank’s business model, the firm says