Monetary policy
ECB paper models impact of monetary policy announcements
Model tries to “disentangle” impact of two kinds of information
Authorities can’t rely on monetary policy to fight next crisis – Rohde
Danish governor says rebuilding capital buffers should be a priority
Indonesian deputy nominated for governor’s role
Perry Warjiyo needs confirmation by lawmakers
Fed’s Powell expects strong US growth
Robust labour market likely to support income and consumer spending rises, Fed chair says
Solving the owner-occupied housing puzzle
A group of researchers has outlined what they see as a better method of integrating owner-occupied housing into the CPI, as the EU’s statistical agency wrestles with the problem
Philippines governor announces recovery from cancer
Espenilla reveals cancer treatment, and says recent policy reforms will not fuel rising inflation
The winners of the 2018 Central Banking Awards
Bank of Canada wins Central Bank of the Year, Lesetja Kganyago picks up Governor of the Year and Perng Fai-nan receives Lifetime Achievement Award; 16 more awards unveiled
IMF stresses communication’s role in fostering stability
Neglecting its importance can lead to adverse reactions, such as misinterpretation of policies
Some ECB governing council members wanted softer QE language – minutes
Governing council members also cautious over future exchange rate movements
Philippines advances with policy implementation revamp
The Central Bank of the Philippines is looking to cut its reliance on reserve requirements and move towards an interest rate corridor
Fed paper examines financial spillovers of US monetary policy
Authors find that conventional and unconventional policies create different spillover effects
Fed anticipates higher growth and tighter policy
Policymakers consider the latest economic data warrants the continuation of gradual policy normalisation
Philadelphia Fed’s Harker forecasts only two hikes in 2018
Despite stronger growth and lower unemployment, inflation remains too weak
Explicit wording sought to jolt market expectations, says Carney
Bank of England governor says committee was unusually explicit ahead of November hike to encourage markets to wake up to its signals
A changing of the guard
Risks emerge amid leadership changes at the US Federal Reserve Board and the People’s Bank of China
Swedish inflation falls in January as Riksbank considers first hike
The CPI at fixed interest rates fell to 1.7% in January, compared with forecasts of 1.9%
Reserve managers made financial crisis worse for central banks – paper
Synchronised withdrawal of funds from commercial banks made central bank stabilisation efforts “more difficult”, IMF paper says
Canada effecting a cautious normalisation – deputy governor
Uncertainties related to trade, high debt levels and slower growth may delay new rate hikes
Higher inflation in the US pushes up yields
The headline consumer price index rose by 2.1% year on year
Riksbank leaves rates unchanged as inflation remains contained
Deputy governor Henry Ohlsson dissented and advocated raising rates by 25 basis points
Mester advocates continuing 2017 rate path this year
Cleveland Fed president says the current policy balances inflation and growth risks
Powell faces balancing act as normalisation proceeds
New Fed chair likely to continue policy normalisation even as market volatility tests his resolve
BoJ’s Kuroda in line for second term
Haruhiko Kuroda looks set to be the first governor to be reappointed in over 50 years, but the choice of deputies is unclear
US real GDP growth accelerating in 2018 – Atlanta Fed
The real-time index GDPNow forecasts an annualised expansion of 4% in the first quarter