Quantitative easing
Market turmoil causes BoE to reschedule long-dated bond sale
Change to QT plan comes after tariff uncertainty triggers surge in UK government bond yields
Book notes: Central bank capitalism: monetary policy in times of crisis, by Joscha Wullweber
This book asks if independent monetary policy is feasible at a time when central banks prop up the poorly regulated shadow banking sector
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months
More volatility calls for greater agility – Schnabel
ECB official says new tools, including negative rates, may be needed in more disruptive age
ECB to introduce structural bond portfolio and LTROs – Schnabel
Executive board member says QT worries have not materialised
BIS paper explores how AI can predict asset demand
Better data availability and modelling techniques help central banks evaluate market reaction to QE
ECB reviewing QE but 2% target ‘not up for debate’ – de Guindos
Completing banking union should be the “number one priority” for EU economic policy, says official
Emerging markets resilient amid global shift, governors tell panel
Smaller economies better placed to intervene during crises, say central bank heads
Malaysia’s Zeti on the key skills needed to be a successful central banker
The Bank Negara veteran speaks about leadership skills, lessons from the AFC and 1MDB crises, her scepticism of inflation targeting, and how the Asia School of Business' masters synthesises theory with practical realities
Central banks must reckon with the costs of quantitative easing
Asset purchase programmes have become a significant loss-maker for central banks. Jagjit Chadha says the losses raise questions about value for money, fiscal distortions and independence
Pricing and funding pressures from BoE's QT hit gilt repo dealers
QT-driven funding cost rises combined with clients’ price demands see at least two banks pull back
BoE keeps policy rate and pace of QT unchanged
Policy-makers back “gradual approach” to lowering interest rates
Interpreting the PBoC’s slew of policy reforms
How are new stimulus measures, bond market tactics, deflationary pressures and monetary policy framework changes affecting central banking in China?
All eyes on the Fed
The US central bank faces a challenging path to fulfil its mandated goals
BIS publishes centuries of data on central bank balance sheets
New “spliced” series extends back to founding of Sweden’s Riksbank in 17th century
Distribution of reserves determines QE and QT’s impact – BoE paper
Policies have ‘highly asymmetric’ impacts on reserve-scarce banks, researchers say
Central banks face a capital framework imbalance – should we care?
Most economists say clear recapitalisation frameworks are important. But many central banks still lack them
Central bank balance sheets: is there an optimal structure?
Establishing guidelines is challenging, although there are many reasons why CBBSes are heterogeneous
Most asset purchase programmes are winding down
Around a quarter of respondents have open APPs but most are shrinking
QE liquidity boosts investment into EMEs, paper finds
Economists propose new mechanism for QE spillovers to emerging market economies
BoJ to reduce its government bond purchases
Central bank will announce bond-buying details at next meeting and keeps rates unchanged