Monetary policy
RBA minutes note ‘fragile’ global picture
Reserve Bank of Australia board discussed “fragile” sentiment surrounding global economic recovery and slow domestic growth when making most recent monetary policy decision
ECB working paper studies MPC group size and voting rules
Researchers looking into the relationships between committee size and voting rules in monetary policy setting find in large committees, majority voting is likely to enhance policy outcomes
Bank of Israel paper evaluates past monetary policy decisions
Discussion paper from the Bank of Israel investigates patterns in monetary policy decisions and their outcomes in the country
IMF paper looks at alternative monetary policy rules for India
International Monetary Fund researchers show forward-looking rules for monetary policy formulation provide better results in India
IMF report backs 'appropriate' Swiss currency floor
IMF supports Swiss National Bank currency floor policy; says floor is “appropriate" and discusses relative success to date
BIS paper examines potential substitute monetary policy tools
Bank for International Settlements working paper discusses potential for interest rate and capital adequacy requirement tools to contribute to financial stability
Canada's Murray dispels 'popular misconceptions' about monetary policy
Bank of Canada deputy governor discusses ‘popular misconceptions’ concerning monetary policy formation
Banque de France research examines links between inflation and monetary policy
Banque de France working paper examines link between inflation expectations, monetary policy and the eventual rate of actual inflation in the US economy
Asian central banks urged to keep interest rates on hold
Chief economist of the Asian Development Bank urges caution from policy-makers regarding interest rates; says impact of eurozone bank deleveraging already incorporated into ADB’s growth forecasts
RBA fears downturn in Asia due to euro area contagion
Reserve Bank of Australia expresses fears about potential contagion from Europe hitting export markets in Asia
Bank of Korea minutes highlight inflation fears
Latest Bank of Korea financial council meeting minutes indicate inflation viewed as a concern while growth remains at 'sound' levels
Draghi calls for growth to top the agenda for eurozone
ECB president Mario Draghi calls for 'growth compact' to complement fiscal compact in eurozone; says individual countries need to meet responsibilities on fiscal consolidation
Riksbank minutes show MPC split on rate hold
Swedish central bank minutes reveal two members of monetary policy committee wanted a rate cut; low growth forecast and high unemployment cited as reasons
Riksbank report calls for creation of kronor bond portfolio
Sveriges Riksbank research advises central bank to acquire a portfolio of assets held in Swedish kronor as part of 'toolkit' to help achieve long-term financial stability
RBA cites weaker economy in decision to cut policy rate
Reserve Bank of Australia cuts cash rate by 50 basis points; highlights weaker economic growth and lower-than-expected inflation for the move
BoJ’s Morimoto says productivity improvements needed to promote growth
Bank of Japan policy board member highlights the importance of productivity in the Japanese labour market to ensure future economic growth
IMF working paper discusses competitiveness and labour costs
International Monetary Fund working paper examines measures of external competitiveness; uses Slovakia as sample for research
SNB’s Jordan defends exchange rate intervention
Swiss central bank chief Thomas Jordan says minimum exchange rate policy for euro proving effective; adds that despite the 'floor' the Swiss franc remains "overvalued"
ECB cautious of damaged financial integration in Europe
European Central Bank releases downbeat Financial Integration in Europe report; Mario Draghi backs up message that integration work needs to be restarted
Norges Bank promotes two new executive directors
Norwegian central bank announces who will fill the top roles in two of the three new core function departments after June 1
IMF research investigates impact of asset prices on credit growth
IMF working paper examines the impact of asset prices on credit growth; concludes monetary policy should consider the impact of asset price movements
IMF working paper finds dual-mandate central banks cannot meet social optimal level
International Monetary Fund working paper finds central banks that have both a price and financial stability mandate cannot achieve both to the social optimal level
Praet places onus on governments to resolve sovereign debt crisis
ECB executive director and de facto chief economist says it is up to governments to resolve the sovereign debt crisis in the eurozone; says some progress is being made
BoJ’s Nishimura says strengthening growth 'crucial' for Japanese economy
Bank of Japan deputy governor emphasises central bank’s role in achieving growth potential; signals unease at the global economic impacts for future of Japanese economy