Monetary policy
Riksbank moves towards normalisation; interest rate on hold
Executive board votes to keep the interest rate at –0.5%; says it will end QE programme in December 2017
FOMC will lose two dissenting doves in 2018
Kashkari and Evans were the only members who voted against the last rate rise on December 13
Iran needs financial sector reform – IMF staff
Central bank should have greater independence and supervisory powers, urge IMF staff
Russian central bank bails out country’s ninth-largest lender
Move is sign of continuing squeeze on private banks, observers say; Bank of Russia also cuts policy rates for fourth time in 2017
Bank of Mexico hikes rates as inflation rises
Central bank resumes tightening path as Mexican economy faces trade and currency challenges
SNB keeps accommodative policy unchanged
Central bank acknowledges Swiss franc’s depreciation, but still considers the development “fragile”
Draghi says ECB’s asset purchases should stay ‘open-ended’
ECB president rejects calls for September end to purchases as inflation forecasts rise slightly
BoE expects UK inflation slowdown
Bank of England keeps rates on hold at 0.5%; disinflationary base effects likely to outweigh tightening labour market in near term
Demography, tech reduce US natural unemployment rate – paper
Baby boomers remain active longer, and older workers record lower levels of unemployment
Fed hikes as Yellen hails strong job growth
Janet Yellen gives her last press conference as Federal Reserve chair
Weak inflation in Nordic countries likely to keep rates on hold
Sveriges Riksbank and Norges Bank set to prolong their dovish stances in last policy meeting of 2017; Iceland holds rates
Lower inflation brings relief for Argentina’s central bank
Central bank leaves interest rates on hold at 28.75%, as year-on-year inflation lowers to 22.5%
High private debt imperils financial stability in Norway, research finds
Households most at risk of shrinking their expenditure account for 50% of private consumption
IMF warns Chinese banks are undercapitalised
The IMF report highlights the insufficient capital of Chinese banks, conflicting tensions of growth and stability, and the financial system’s complexity
Loose policy supported equality in Sweden – Skingsley
Deputy governor of Sveriges Riksbank reflects on how monetary policy promotes inclusive growth
Brazilian policy rate at lowest level in 30 years
Copom expects inflation to fall to 2.9% this year
Riksbank’s Jansson changes his mind on leaning against wind
Deputy governor says his position on the policy has shifted with the benefit of hindsight
Flexible exchange rates vital to autonomy – Mexican deputy
Flexible exchange rates should not be abandoned in times of stress, says Guzmán, encouraging policymakers to increase the efficiency of frameworks
Diversified export markets may offset Mexican Nafta showdown
Bank of Mexico sees a failure to renegotiate the trade deal as the biggest risk to the economy
More easing next year if inflation does not pick up – RBNZ
Global supply chains, the rise of China and the digital economy led to a low traded-goods inflation
Richmond Fed appoints McKinsey executive its next president
Tom Barkin will serve as a full FOMC member as of 2018
Small open economies benefit from QE spillovers – IMF paper
Fed’s QE had a similar net positive effect in Canada to that in the US
BoE economist explores ‘active’ QE model
Quantitative easing could be made a more conventional part of central bank toolkits, used to help support spending and inflation, says Harrison
Fed hikes have created ‘paradoxical’ easing – BIS
Review draws parallels between current episode and “Greenspan conundrum” of mid-2000s