Quantitative easing
Bank of Canada posts first quarterly loss in its history
“We do not make policy to maximise our income,” says Macklem
BoE begins unwinding gilt market intervention
Use of “reverse enquiry window” designed to limit market impact from £19 billion sales
Book notes: Zero interest rate policy and the new abnormal, by Michael Beenstock
Thesis that QE caused low r* is entertaining and infuriating in equal measure
Balance sheet policy needs rethink, economists say
BoE chief economist says central banks should focus more on risks of assets they buy
Riksbank slows down normalisation with 75bp rise
Ingves chairs last policy decision as Riksbank predicts higher inflation and lower growth
UK Treasury makes first payment to BoE to offset QE losses
Indemnity was “integral” to QE but “day of reckoning” had to come, economist says
ECB eases securities lending limits to address collateral shortage
Governing council aims to provide “backstop for the euro area repo markets”
Greener energy mix would foster price stability, says Lagarde
More use of renewables would reduce chance of energy price spikes
Lagarde says ECB may need to tighten above neutral rate
ECB president confirms central bank will announce QT plans in December
Book notes: Yellen, by Jon Hilsenrath
Offers new insights into the tough decisions Yellen has made as a pre-eminent economic policy-maker
Bank of England rate hike is largest in over 30 years
MPC forecasts prolonged downturn and says it does not foresee rates rising to 5.25%
Liquidity dependence may hamper QE exit
Expanding reserves may prove perilous for financial stability, with maximum danger during QT, writes Viral Acharya
Is the ECB taking the right policy path?
Analysts ponder whether sharp rate increases and quantitative tightening alone will serve to bring inflation back to target
Podcast: the effect of monetary policy on reserve management
Global rise in inflation is having an impact on central banks' reserve strategies
Monetary Policy Benchmarks 2022 – presentation
Central Banking’s economics subject matter specialist Daniel Hinge discusses monetary policy after Covid-19
‘Shouting on the phone’: BoE officials shed light on gilt market intervention
Crisis sparked by UK government’s plans needed unprecedented action, officials tell parliament
Bank of England to go ahead with QT
Central bank delays start of bond sales by one day to avoid fiscal announcement
Report of delay to QT ‘inaccurate’, BoE says
Article says central bank is “expected to bow to investor pressure” for delay to asset sales
US and European policy-makers feel ‘vindicated’ over aggressive hikes
QT may deserve a slower approach than traditional policy, says Jacob Frenkel
Fiscal co-ordination threatens independence, SNB president says
Central banks must not let Covid-19 era policies continue, Thomas Jordan warns
Ukraine: the challenges for central banks
Rules on the weaponisation of money would help to protect a ‘public good’ amid geopolitical splits in a testing environment for central banks, write Gavin Bingham, Paul Fisher and Andrew Large
Quantitative tightening: missed opportunities
Treasuries and central banks must think harder about balance sheet policies, says Philip Turner
BoE to buy bonds on ‘whatever scale is necessary’
Turmoil in gilt markets forces pension funds to dump assets to meet margin calls
Some new monetary frictions
Negative net interest set to hit Fed earnings with monetary and fiscal policy implications