Monetary policy
High reserves and low yields force central banks to focus on returns – survey
Equities become more important in reserve portfolios, accounting for 90% of returns in 2017
Argentina tweaks monetary policy framework
Committee will now meet once a month and publish members’ votes
Communication strategies too weak to ‘pierce veil of inattention’ – research
Survey evidence is too poor and central bank communication too ineffectual, say economists, but reforms could open up new mode of policymaking
People: Palestine Monetary Authority appoints new deputy governor
New members appointed to Finnish and Swiss boards
Extra inflation forecasts will boost transparency – Mexico’s Guzmán
Mexican deputy highlights importance of transparency in uncertain economic environment
Erdoğan tightens grip on central bank with sweeping decree
President amends central bank law to hand himself key powers over institution’s governance
Tunisia should focus monetary policy on tackling inflation – IMF
Fund completes third review of extended fund facility with North African country
IMF paper praises Chilean central bank’s forward guidance
Central bank’s monetary policy predictability and efficacy was “quite high”
Erdoğan set to wield greater power over Turkish economic policy
President has said central bank’s rate hikes have helped boost inflation
Russia changes security operation, makes senior appointments
Bank of Russia deputy governor appointed and monetary policy head retires
Riksbank leaves rates unchanged at -0.5%
Growing dissent as two of six board members advocate tighter policy
RBNZ plans update to monetary policy and prudential regulation
Changes are among several priorities outlined in 2018–21 statement of intent
Low rates contribute to higher deposits in Denmark
Bank deposits amount to 60% and household deposits 45% of GDP
New Jamaican law could end Caribbean’s ‘colonial era’
Granting the Bank of Jamaica operational independence to pursue an inflation target could transform central banking in the Caribbean
Bank Indonesia surprises markets with aggressive rate hike
Markets had expected the central bank to opt for a smaller move in the policy rate
Bank of Canada to incorporate US tariffs in economic projections
Next monetary policy meeting could be affected by protectionism
Policy normalisation puts EMs in ‘perilous’ situation – Mexico’s Calafell
Deputy governor says monetary policy may tighten faster than markets expect
BoE should not ‘dally’ with next monetary policy move – McCafferty
In his last scheduled speech, the MPC member says a delay could force the central bank into a more “aggressive tightening”
BIS paper outlines lower-bound risk model
Model estimates probability of hitting ELB, helping to guide policy
Haskel says BoE could benefit from focus on intangible capital
Productivity specialist says updated view of the economy could help with setting policy
BIS sees ‘narrow’ path to safety as global risks build
BIS softens message on tighter monetary policy, but calls for concerted action as global debt reaches fresh highs
BoE capital injection lays ground for stronger crisis response
Higher risk-bearing capacity allows additional emergency measures, Mark Carney says; move could bring forward BoE’s exit from QE
Swiss central bank keeps policy rates negative
SNB says it will intervene in foreign exchange markets “as necessary”
BoE’s chief economist joins minority in calling for rate rise
Monetary policy committee lowers threshold for reducing debt holdings