Monetary policy
ECB bucks market expectation with silence on further bond purchases
European Central Bank extends liquidity operations but does not commit to more bond purchases; move comes against market anticipation, dividing analysts
BoE paper: capital inflows primary cause of US housing bubble
Bank of England study shows large capital inflows had a greater effect than monetary policy in generating housing bubble in United States
IMF: inflation targeting reduces dollarisation
Fund study says inflation targeting framework strengthens monetary policy channel in countries with high levels of dollarisation
Taylor calls on Fed to focus on price stability, not employment
Economist John Taylor likens Federal Reserve’s quantitative easing programme to fiscal policy; says central bank should focus on single price stability mandate
Bernanke says Fed’s supervisory role creates synergies
Federal Reserve chairman Ben Bernanke says financial supervision at central banks provides benefits for macroeconomic management
Central banks more independent in decentralised states: BIS
Bank for International Settlements study looks at impact of political economy on central bank independence
St Louis Fed: central banks must plan credible QE exit
St Louis Federal Reserve study shows success of quantitative easing depends on central bank's ability to credibly plan for stimulus withdrawal
ECB's emergency liquidity measures eased credit crunch, says CEPR
Centre for Economic Policy Research study shows European Central Bank's response to financial crisis helped ease liquidity strains in wholesale markets
Budapest sets sights on Hungary’s rate-setting council
Hungarian government seeks amendment giving a parliamentary committee full control over majority of appointments to central bank’s Monetary Council
Tombini named new governor of Brazilian central bank
Central Bank of Brazil deputy governor Alexandre Tombini to replace current governor Henrique Meirelles
Svensson attacks Sweden’s monetary policy framework
Riksbank deputy governor Lars Svensson finds "problem" with use of repo rate to address financial stability; favours sole focus on inflation targeting
Gjedrem on the Norges Bank’s history
Norges Bank governor Svein Gjedrem discusses transition of Norges Bank from government advisor to fully fledged central bank
Sarb makes fresh bid to revive output
South Africa Reserve Bank cuts rates by 50 basis points in bid to boost output; analyst says policy subscribed will have little impact on supply side
Bank’s MPC split three ways
Bank of England Monetary Policy Committee minutes show rate-setters remain divided over future outlook of economy
RBA minutes: looming inflation led to rate hike
Reserve Bank of Australia minutes shows rate setters decided to increase the cash rate after forecasting higher inflation next year
Malaysia names new deputy governor
Puan Nor Shamsiah Mohd Yunus replaces Dato' Zamani Abdul Ghani
Norges Bank’s Qvigstad: monetary policy boards can lead to groupthink
Norges Bank deputy governor Jan Qvigstad says independent monetary policy votes are subject to group pressure
Weaker growth led Israel to hold rates
Bank of Israel report shows poor terms of trade led to weaker growth outlook ahead of rate setting meeting
RBI reopens second liquidity line to prevent credit squeeze
Reserve Bank of India introduces second liquidity adjustment facility after growth in government savings absorbs liquidity in money markets
Ron Paul set to renew bid to audit Fed
United States representative Ron Paul vows to audit Federal Reserve if he wins power of House subcommittee on monetary policy
Finland finds limitations in China’s monetary policy
Bank of Finland study finds China’s monetary policy strongly influences asset prices but not household consumption
IMF: post-Volcker monetary policy effective
Fund study find monetary policy has had just as much impact on output in the United States post-Volcker
BoJ’s Suda criticises decision to buy government bonds
Bank of Japan monetary policy minutes reveal dissent over central bank’s decision to include government bonds as part of stimulus programme
SNB council member to step down next April
Swiss National Bank’s Armin Jans to resign from Bank Council after 12 years in role