Monetary policy
New Thai bank head to make monetary policy changes
THAILAND - Incoming Thai central bank Governor Pridiyathorn Devakula said on 4 June that there are going to be changes in monetary policy.
Bank Indonesia tight monetary policy remains
INDONESIA - Indonesia's central bank said on 1 June that the country's political instability would prevent it from loosening monetary policy in the short term, even though the ailing rupiah has shown some strength.
Second Thailand monetary policy board member quits
THAILAND - Chalongphob Sussangkarn, a member of the Bank of Thailand's Monetary Policy Board, said on 31 May he had submitted his resignation. He cited uncertainty over monetary policy following the ousting of governor Chatu Mongol Sonakul earlier this…
Polish MPC blamed for keeping interest rates high
POLAND - The Polish central bank came under heavy fire from officials and analysts on 31 May for holding interest rates steady despite saying there was little demand-side price pressure in the economy.
Euro is a safeguard for UK
ARTICLE - Soon to depart Bank of England MPC member DeAnne Julius sees the euro as a safeguard for UK industry. Speaking recently she considers her own future, Britain's European prospects and the set-up at the ECB.
Strong backing for Bank of England rate cut
UK - The Monetary Policy Committee (MPC) of the Bank of England voted eight-to-one to trim interest rates 0.25%, when they met earlier this month, minutes from the meeting have shown.
Monetary policy formulation in the euro area
SPEECH - Christian Noyer, Vice-President of the European Central Bank, spoke at the "Monetary Policy and the Markets" conference of the National Association for Business Economics, Washington, DC on 23 May.
Banks and Systemic Risk - Theory and Evidence
SPEECH - David Clementi, Deputy Governor of the Bank of England and a member of the Bank's Monetary Policy Committee spoke on 23 May at a conference of the Bank of England in London.
Low inflation may erode bank's credibility
SPEECH - The Bank of England's credibility could be at risk if it continues to undershoot its 2.5 per cent inflation target for more than another two years, according to a member of the bank's Monetary Policy Committee.
Fabius backs ECB independence on monetary policy
FRANCE - The European Central Bank must and does set monetary policy independently, French Finance Minister Laurent Fabius said on 20 May, adding that he believed the bank was not indifferent to the downturn in global economic growth.
Monthly economic report from Bank of Japan
Japan - The Bank of Japan published its monthly monetary policy report of recent economic and financial developments on 21 May.
Bank Indonesia will keep stable monetary policy
INDONESIA - Bank Indonesia said on 15 May that it will consistently maintain a prudent monetary policy and that high inflationary pressures are likely to be a great challenge until the end of the year.
UK General Election - Conservative pledges
UK - The UK Conservative party have published their manifesto. In it they spell out what they would do if elected to government in the general election to be held on 7 June. Michael Portillo,the shadow chancellor of the exchequer, sets out their policies.
Monetary policy and the economic outlook in Japan
SPEECH - Given by Kazuo Ueda, Member of the Policy Board of the Bank of Japan, at Council on Foreign Relations in New York, May 11.
Bank of England lowers base rate
UK - The Bank of England announced at 12pm on May 10 that the UK's main interest rate measure, the repo rate, would be reduced by 0.25% to 5.25%.
Banks refusing funds from BOJ
JAPAN - Japanese monetary policy encountered a significant hitch yesterday, 9 May, after it failed to persuade banks to accept any more funds. The money was virtually free as interest rates in Japan are close to zero.
UK poised for rate reduction
UK - The Bank of England faces pressure to cut interest rates tomorrow, May 9, as it begins its monthly two day meeting.
Bank of Canada report
REPORT - The Bank of Canada released its semi-annual Monetary Policy Report on May 1.
Bank must cut rates to avoid slump
UK - Britain faced warnings to cut interest rates to head off the risk of economic slowdown.
Rate cut doubt after new data published
UK - Buoyant UK consumer data released on May 2 has added to the interest rate dilemma faced by the Bank of England.
Parliament committee grills new policy adviser
LONDON - Kate Barker, due to join the Bank of England's Monetary Policy Committee (MPC) in June, testified before parliament's Treasury Select Committee on May 1.
International Economic Review article
RESEARCH - Jon Faust and Lars E. O. Svensson of the Board of Governors of the Federal Reserve, writing in the International Economic Review, define and study transparency, credibility, and reputation in a model where the central bank's characteristics…
Ageing and financial stability
ARTICLE - Population ageing might involve major shifts in financing, which may give rise to financial turbulence and systemic risk. Philip Davis, professor of economics at Brunel University, has prepared a paper on this subject for a Bundesbank…
What is wrong with Taylor Rules?
ARTICLE - Lars Svensson, professor of economics at Stockholm University, has published an article "What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules". In the paper, Svensson says that Taylor Rules are an…