Monetary policy
Don’t hand over reins to markets: ECB’s Bini Smaghi
European Central Bank’s Lorenzo Bini Smaghi sets out four reasons why sovereigns’ fates should not be left in the hands of markets
ECB publishes the third edition of monetary policy book
ECB releases comprehensive overview of the ECB's monetary policy
Bank of Japan praised for post-disaster actions
Government representatives at monetary policy meeting expressed appreciation for the central bank’s “swift and appropriate actions after the earthquake”
Phasing in Basel III rules eases economic costs: IMF paper
Fund study shows that implementing higher capital and liquidity requirements over a lengthy period of time can help reduce the macroeconomic costs of enforcing such rules
Iceland minutes shows dissent from MPC member
Central Bank of Iceland Monetary Policy Committee minutes says one dissenter voted to raise rates by 25 basis points amid growing inflationary pressures
Bank of England keep rates at record low
Bank holds for fourteenth month in a row
Denmark’s Bernstein: rate hike may dampen growth
National Bank of Denmark governor Nils Bernstein says rate hike will not trigger an economic reversal but may have dampening effect on economy
Sarb’s Mminele on policymaking in volatile markets
South African Reserve Bank deputy governor Daniel Mminele discusses challenges for policymakers in uncertain financial markets
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system
BIS paper highlights change in bank-lending channel
Bank for International Settlements study shows shift in drivers of bank-lending channel in European and United States pre-crisis
Bank’s Sentance calls for revaluation of sterling rate
Bank of England external Monetary Policy Committee member Andrew Sentance says Bank needs to strike a more even balance on sterling value
Bank minutes outlines downside risks to economy
Minutes of Bank of England monetary policy meeting highlights evidence of continued weakness in UK economy
RBA minutes: impact of Japan quake on exports temporary
Minutes from Reserve Bank of Australia monetary policy meeting show disruption in exports to Japan expected to be temporary
Brazil slams IMF proposal on capital controls
Brazil’s finance minister Guido Mantega rejects IMF proposals for establishment of framework on capital controls; attacks Fund’s laissez-faire policy on capital movements
Chicago Fed’s Evans warns against leaning on asset-price bubbles
Chicago Federal Reserve president Charles Evans says use of monetary policy tools to address systemic stability will burden Fed’s dual mandate
PboC’s Yi warns advanced economies about risks to recovery
People's Bank of China deputy governor Yi Gang says advanced countries should not lose focus on growing vulnerabilities in financial sector
Bank of Canada – Monetary Policy Report (April 2011)
Bank of Canada Monetary Policy Report says rise in terms of trade led to better than expected growth in last quarter of 2010
Banks caught in ‘maelstrom of interlinked pressures’: IMF
IMF’s Global Financial Stability Report slams progress made by banking system reforms; calls for higher quality and quantity capital in Europe
Suda QE proposal defeated: Bank of Japan minutes
Proposal to limit asset purchases to risky assets was turned down by Bank of Japan monetary policy board
RBA paper reviews unconventional monetary policy measures
Reserve Bank of Australia study says use of long-term interest rates and communication about future short-term interest rate path has merit
Precautionary saving motives necessitate monetary stance revisions: BoE paper
Bank of England study says households’ precautionary saving motives justify accommodative policy bias
Fed’s Yellen dismisses monetary policy link to commodity market boom
Federal Reserve vice-chair Janet Yellen denies claims accommodative US monetary policy is exacerbating boom in commodity markets
ECB’s Stark calls for end to short-term approach to monetary policy
European Central Bank executive board member Jürgen Stark says central banks should not be distracted by attempts to fine-tune economy; calls for refocus on monetary data
BoJ - Monthly Report of Recent Economic and Financial Developments (April 2011)
The Bank of Japan’s April 2011 Monthly Report of Recent Economic and Financial Developments finds evidence of a sharp slowdown in production following Tohoku earthquake