Monetary policy
Colombian monetary policy-makers ignore World Cup effect
Decision to raise interest rates attributed to rising inflation expectations - which were not put down to the country's footballing success
Mario Draghi can ‘use the force' in central banking ‘confidence trick'
Market participants say ECB president Mario Draghi is the ‘Yoda' of central banking for his adept use of ‘Jedi mind tricks'
Solomon Islands paper investigates monetary policy transmission mechanism
Second paper in a new series from the Central Bank of the Solomon Islands examines role of M1 and exchange rate on inflation and output in the Pacific archipelago
BIS's Caruana warns low interest rates are ‘self-validating'
Persistent low interest rates can become self-validating, BIS general manager Jaime Caruana warns, in annual speech in which he called for greater international co-ordination
BIS warns central banks to bite the bullet on monetary policy normalisation
BIS annual report says it may already be too late for a gradual exit from unconventional policy; warns markets may pre-empt exit if they feel central banks are behind the curve
Macro-pru beats monetary policy for open-economy financial stability
IMF working paper uses open economy framework to show macro-prudential policies are more welfare-enhancing than interest rate rises in seeing off over-exuberance
IMF's Singh discusses ‘financial plumbing' issues as central banks leave ZLB
IMF's Manmohan Singh investigates issues around bank balance sheet regulations which may impact monetary policy options as central banks leave the zero lower bound
Bank of England MPC minutes reveal surprise over dovish market expectations
BoE minutes show MPC members expected markets to price in earlier rate hike despite bank's vow to keep them low for extended period of time
Haldane says MPC faces ‘corridor of uncertainty'
Bank of England chief economist turns to cricketing metaphors to explain the dilemma faced by the monetary policy committee at this delicate moment for the UK recovery
BoE's newest MPC member defends limited experience of ‘core' issues
Kristin Forbes says her knowledge of international capital flows brings ‘direct expertise to the UK'; describes herself as someone willing to break ranks
Robert Pringle’s Viewpoint: Coping with capital flows
All nations face major challenges dealing with capital flows. In the absence of systemic reform to monetary and exchange rate systems, central banks will need to patch and mend where they can
Rosengren outlines exit options from ‘essential' unconventional monetary policy
Exit options could include using reverse repos to put a ‘floor' on short-term interest rates, or to raise the interest rate the Fed pays on excess reserves
Exchange rate losing significance in Asian monetary policy, BIS paper argues
Bank for International Settlements working paper argues sterilised intervention in currency markets is becoming less effective as Asia's economies trade more freely with each other
‘Shadow policy rate' measures Fed monetary policy stance at ZLB
BIS working paper describes a shadow policy rate constructed from a number of variables reflecting monetary policy actions to divine the Fed's stance at the zero lower bound
Sarb says advanced economy tapering will cause ‘protracted period of volatility'
South African Reserve Bank says monetary policy normalisation in the US and elsewhere will cause a protracted period of volatility in emerging markets like South Africa
Chile minutes reveal commitment to hit inflation target
Above-target inflation dissuaded the Central Bank of Chile's monetary policy-makers from cutting rates despite fears over an expanding output gap
Opinion: The ECB is in danger of losing its voice
Mario Draghi's primary monetary policy tool - communication - may no longer be enough, says Patrick Artus of Natixis
Rajan sets out ‘idealistic' vision for international monetary policy co-ordination
RBI governor would in an 'ideal world' establish an impartial arbiter of unconventional monetary policy; Lagarde says global welfare benefits should be quantified
Targeting financial stability would compromise central bank independence, Lagarde says
IMF managing director Christine Lagarde says adding a financial stability objective to central bank mandates would be incompatible with their continued independence
Menon: Monetary policy can't fill ‘all the cracks'
MAS managing director says monetary policy cannot ensure financial stability alone, as vulnerabilities tend to concentrate in specific sectors
Turkish rate cut baffles markets as inflation heads for double figures
Turkey's central bank cut rates today despite inflation of almost double the target level; deputy governor tells CentralBanking.com the focus must return to price stability
Monetary and macro-prudential co-ordination works well when pulling in same direction
Monetary and macro-prudential policy co-ordination brings benefits when they are both aiming at the output gap, but not when the regulator emphasises financial stability
Colombian interbank oligopoly requires new monetary policy transmission model
The domination of Colombia's interbank market by a few large players means traditional models cannot predict how monetary policy, and financial crises, will be transmitted
Buba's Dombret says ECB agrees there are limited risks of deflation
Low inflation in the eurozone should not become deflation, Andreas Dombret says in a speech at the Dallas Fed, as current low inflation reflects unique factors