Monetary policy
BoE's chief economist says global inflationary pressures prompted rate hike vote
Bank of England chief economist Spencer Dale says risks associated with global price pressures and prolonged periods of inflation were behind call to raise interest rates
Bank’s Sentance warns of misjudging spare capacity
Bank of England Monetary Policy Committee external member Andrew Sentance warns of difficulty in measuring spare capacity
Buba’s Weber on central banks' stability mandate
Bundesbank president Axel Weber says central banks will continue to play prominent role in new regulatory and supervisory framework
BoJ study on adoption of spread-adjusted Taylor rule
Bank of Japan study lends support to use of spread-adjusted Taylor rules as suitable response to adverse macroeconomic shocks
Hungary selects final two external rate-setters
Hungarian parliament selects two external rate-setters to National Bank of Hungary’s Monetary Council, taking it to full capacity
BoJ split over economic impact of rising commodity prices
Bank of Japan monetary policy minutes show divisions in policy board over seriousness of rising international commodity prices
Cyprus’s Orphanides on risk of activist approach to monetary policy
Central Bank of Cyprus governor Athanasios Orphanides warns use of monetary policy to attain objectives other than price stability may be harmful
Norges Bank - Monetary Policy Report (March 2011)
Norges Bank’s March 2011 Monetary Policy Report says executive board expects earlier rate hike on growing inflationary pressures
RBA minutes: rates on hold as temporary inflation effects dissipate
Minutes of RBA rate-setting meeting says inflationary effects of extreme weather conditions only short term; renewed focus on global inflation risks of higher oil prices
Lawmakers grill BoE’s court over stability mandate
UK Treasury Committee query whether Bank of England’s Court of Directors is up to the task of monitoring the activities of the Financial Policy Committee
Monetary policy shocks transmit through countercyclical markups: Bank of Canada paper
Bank of Canada study shows countercyclical markups help explain effects of monetary policy shocks in Canada
Firms’ choice in price-reviewing strategies explained: ECB paper
European Central Bank working paper analyses why and how firms pick their price-reviewing strategies
Fund’s DSK on meshing monetary and regulatory tools
Policymakers are looking to academia to help see how macroprudential policy might affect central banks’ independence, IMF managing director Dominique Strauss-Kahn says
Tokyo nominates ex-IMF economist to BoJ policy board
Japanese government puts forth academic and ex-IMF economist Sayuri Shirai for Bank of Japan policy board, according to wire reports
Goldman economist to replace Sentance on Bank’s MPC
Chancellor of the exchequer George Osborne names Goldman Sachs’ Ben Broadbent as new member of Bank of England’s Monetary Policy Committee
Hungary names two external members to MPC
Hungarian parliament nominates two economists as external members to National Bank of Hungary rate-setting committee
Central bank wage cap backfires on Budapest: reports
Hungarian government could be pushed to amend controversial central bank salary cap as problems mount in finding suitable external rate-setters
UK lawmakers launch inquiry into BoE’s accountability
Influential parliamentary committee calls for views on the impact of regulatory change on Bank of England; changes will see Bank’s ambit expanded
Bank’s Sentance lists reasons for rate hike
Bank of England external Monetary Policy Committee member Andrew Sentance stresses importance of gradual rise in interest rates
King warns of delay in switch to new regulatory regime
Bank of England governor Mervyn King says correct implementation of regulatory reforms takes precedence over achieving deadlines
Bank won’t hike rates as gesture to market: King
Bank of England governor Mervyn King says use of interest rate to signal Bank’s intention to curb inflation would be self-defeating
Commentators split on Bank justification for high inflation
CentralBanking.com web panellists divided on whether Bank of England is acting within remit in accommodating persistently above target price pressures
BoE forecasts at odds with public view: BIS paper
Bank for International Settlements study finds substantial disagreement among UK consumers and Bank of England over inflation forecasts
Asset purchases only in emergencies: Bank’s Bean
Bank of England deputy governor Charles Bean says central bank should rely on short-term interest rates as main policy instrument and asset purchases only in emergencies