Quantitative easing
ECB monetary policy statements should change – Italian governor
Visco rejects idea of putting names to votes as eurozone governors differ on inflation policy
Tackling ‘dead-end’ monetary policy
Shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
Riksbank’s Ingves weighs post-crisis policy legacy
“Leaning against the wind” clashing with inflation target, communications challenges and cash’s decline have shaped the last decade
Trichet defends Draghi’s legacy against growing criticism
Former ECB president says unconventional monetary policy measures have helped to avoid deflation
Fed unveils plan for ‘technical’ asset purchases
New York Fed will buy Treasuries “at least into the second quarter of next year”
Draghi defends ECB policy
ECB president welcomes debate but insists crisis-fighting policies saved eurozone
New German ECB board member may help unify governing council
Leading candidates seen as capable of playing a more constructive role, as critics become more vocal
BoJ weighs further stimulus as tax hike bites
But central bank may be reluctant to add more stimulus while tax hike effects are uncertain
ECB governing council members disagreed over QE, minutes show
Members also differed over staff assessments of eurozone, but “large majority” backed rates move
Fed opts for asset purchases as liquidity solution
Central bank chooses not to address possible plumbing issues – at least for now
BIS studies highlight limits to unconventional policy
Policies seen as broadly effective, but reports warn of spillovers and other unintended effects
‘Wrong’ to say Fed is out of policy space, Bernanke argues
Former chair estimates unconventional policy adds 3% to Fed’s room for manoeuvre
Central bankers without clothes and clout
Without normalisation, central bankers may be revealed to have no clout, writes Jesper Berg
Expectations and term premia both drive spillovers – BIS paper
Different components have greater impacts in advanced and emerging economies, authors find
Lautenschläger resigns early from ECB governing council
News fuels speculation over German opposition to looser monetary policy
Orr: RBNZ ‘thinking hard’ about unconventional policy
Governor says tools not likely to be needed, but “we would be remiss not to be prepared”
30 years of central banking
Central banks face credibility tests on a number of fronts
Lane stresses broad consensus on ECB policy
Comments come after criticism from German and Dutch central bank governors
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”
ECB cuts rates to new record low and re-starts QE
Deposit rate decreased to –0.5% and open-ended asset purchases launched at €20 billion a month
ECB corporate QE also transmitted through bank lending – ECB research
Spillover effect independent from banks’ balance sheet quality
ECB expected to cut rates and restart QE to boost inflation
But Draghi’s ambitious stimulus package faces growing opposition from governors in surplus countries
Fed ‘boneheads’ wasting opportunity of a lifetime, Trump claims
Trump calls for negative rates and a longer balance sheet term structure
Households respond more forcefully to rate cuts than QE – Dallas Fed
Fed should improve communications for QE and forward guidance, researchers say