Monetary policy
Riksbank should reduce balance sheet to avoid risks – Flodén
“Best way” of running down bond holdings is to hold bonds until maturity
HKMA buys HK dollar for first time in 13 years
HKMA chief says central bank is “fully capable” of defending local currency
FOMC minutes show members expecting higher US inflation
Fed’s rate-setters say current fiscal policy has few historical parallels
BoE should not merge monetary policy and macro-pru - Broadbent
Merging key committees could undermine accountability, says deputy governor
New York Fed lays out QE unwinding scenarios
Fed’s balance sheet is expected to stabilise between $2.5 trillion and $3.3 trillion
Iran seeks to unify exchange rates amid rial plunge
New rate is meant to eliminate gulf between official rate and market, but it remains unclear whether the measure will succeed
China's policy transmission increasingly similar to advanced economies – BIS paper
Authors say monetary policy surprises have “sizeable” effects on interest rates in China
Fed’s Powell emphasises ‘patient’ approach to policy
Fed chair acknowledges very low unemployment has been accompanied by other signs that the labour market may be operating below potential
Gambia’s central bank seeks greater independence as fiscal dominance ends
Central Bank of The Gambia to work on autonomy and data management under new fund programme
Money market revamp would help transmit policy in Iran – IMF
Central bank currently struggles to conduct open-market operations; new policy framework would aid transmission and deepen markets, fund says
Macro-prudential policies cool Sweden’s housing market
Private debt continues to increase, but loan-to-value ratios are falling
Language shapes monetary policy preferences in Switzerland – research
Culture partly outweighs shared institutions and economic history in setting priorities
John Williams’ candidacy for New York Fed job draws fire
Selection process criticised for failing to promote diversity among top Fed officials
Balance sheet features impact global spillovers – NY Fed paper
International research effort finds banks’ business models affect the extent to which policy spills across borders
Upgraded Moody’s outlook puts Sarb rate cut bank on the menu
Lower inflation and an appreciating rand mean the South African Reserve Bank could cut rates at its meeting next week, but analysts think it might be too soon
PBoC gains two-headed leadership
In appointing Guo Shuqing as party secretary at the PBoC, president Xi Jinping appears to be strengthening party control over the central bank
Communications on financial stability should be strengthened
The IMF’s Olga Stankova outlines how central banks and other official agencies can better communicate their financial stability work
Technological change has contributed to low wage increases – Riksbank’s Skingsley
Monetary policy can respond by balancing high resource utilisation with price stability
Lagarde proposes new European fiscal fund
The mechanism would reduce reliance on monetary policy to respond to future crises
Fed policy should become more neutral – Bostic
As the economy operates close to potential and inflation approaches target, rates can be raised, the Atlanta Fed president says
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
Canada’s Wilkins calls for improved macro frameworks
Bank of Canada deputy highlights the importance of better models and improved data in understanding impact of monetary policy on stability
BoE on track for May rate hike
MPC votes 7-2 in favour of maintaining rates at 0.5% but leaves the door open for two potential rate hikes in 2018
SNB achieved record profits in 2017
Acquisitions of euros and dollars via foreign exchange interventions yielded 91% of the gains; SNB reshapes portfolio with greater share of equities and riskier bonds