Monetary policy
Israel makes surprise hike on inflation fears
Bank of Israel’s Fischer raises key rate to 1% from next month; cites a jump in inflation expectations even with rate hikes factored in
Hungary shaves by 50 bps as expected; widens rate corridor
National Bank of Hungary cuts key rate to 6.5% as indicated; widens rate corridor citing better market conditions
South African Reserve Bank - Monetary Policy Review
SARB report explains that downside risks to inflation from poor output and expenditure figures underpinned rate cuts between May and August
OECD hikes growth forecasts
Paris-based organisation raises its growth forecasts for next year and publishes 2011 expectations, citing the momentum of the recovery in non-members such as China
Sri Lanka cuts rates
Central Bank of Sri Lanka cuts benchmark borrowing cost to 7.5%, narrows rate corridor
Brazil rate-setter quits over controversy
Brazilian central bank’s monetary policy director resigns days after revealing rate-setters’ frustration at Lula
ECB’s Tumpel-Gugerell on dangers of all roads leading to Rome
Gertrude Tumpel-Gugerell, an ECB executive board member, says the work of the European Systemic Risk Board would be crucial in future approach to financial stability
Woodford unveils new model for transmission mechanism
New York Federal Reserve paper co-authored by Michael Woodford introduces a new model for monetary policy which considers the effects of unconventional policy
Bank of Israel – Third Quarter Inflation Report 2009
Report shows inflation slowed as a result of rate hike
Czechs set fixed time for policy announcements
The Czech National Bank will announce monetary policy decisions at 1 p.m. starting next February
Swiss stability maintained through tighter regulation: SNB board member
Thomas Jordan, a member of the Swiss National Banks’ governing board, also says record low interest rates could lead to excessive behaviour in mortgages and real estate again
Hungary split on cut
Rate-setters from the National Bank of Hungary were divided over the size of the cut required, according to minutes of the October policy meeting
Bank compromises with £25 billion QE expansion
Bank of England rate-setters vote for moderate expansion of quantitative easing, citing conflicting economic pressures
MAS reserve chief backs move into riskier assets
Monetary Authority of Singapore's Lee Chuan Teck says crisis had failed to dispel faith in diversification despite large mark-to-market losses
A new transmission model – research
An IMF working paper outlines a panel unobserved components model of the transmission mechanism
No way to tell if QE’s worked: BoE’s Bean
MPC will have to tighten gradually to avoid undershooting inflation target
Banks and their profits will shrink: Buba’s Weber
Bundesbank president says industry will benefit from post-crisis blood-letting
Macro still has a lot to offer: Chile’s De Gregorio
Macro models must be refined to incorporate what we now know to reduce the risk of future crises, says governor of Central Bank of Chile
Monetary policy must inspire confidence to counter debt fears
Kate Barker, a member of the Monetary Policy Committee, argues central bank must be sensitive to changes in attitudes towards debt and investment
Weaker CBs must work harder in face of shock
Central banks with less credibility must work harder to combat a cost shock
Bank’s second monetary-policy roundtable
Bank of England summarises its monetary-policy roundtable
ECB board member speaks on financial crisis role
José Manuel González-Páramo gives a keynote speech at RiskEurope on the role of central banks in a financial crisis.
Bernanke: public must grasp economic developments
Ben Bernanke says the public’s economic understanding is crucial for the conduct of monetary policy