Quantitative easing
Fed’s Yellen sees little evidence of stability danger from easy policy
Janet Yellen defends accommodative stance of US monetary policy; says there is no ‘pervasive evidence’ that policies are causing overheating
Central banks 'getting away with murder', says currency investor
Central banks are pursuing the wrong policies and will find it difficult to know when to tighten monetary policy, says Axel Merk
Plosser: Fed should cut asset purchases now
Philadelphia Fed president says there has been ‘substantial improvement’ in US economy and labour market; sees scope to taper asset purchases now and end programme altogether in 2013
IMF says independent central banks have ‘muzzled’ the inflation threat
World Economic Outlook says central banks have little reason to fear inflation resulting from loose policy – so long as their independence is upheld
FOMC members saw QE continuing ‘through midyear’ at March meeting
Participants at the FOMC’s last meeting broadly agreed to continue QE at existing pace ‘through midyear’ but failed to reach a consensus on when to slow asset purchases
BoJ minutes reveal tensions over asset purchase programme
Minutes of final meeting under governor Masaaki Shirakawa show disagreement over whether to loosen policy further, including changes to quantitative easing
Lagarde fears ‘unintended consequences’ of monetary easing
IMF managing director fears side effects from low interest rates and asset purchases; says there is a limit to the share of the burden of recovery that monetary policy can take
US non-farm payroll stats strengthen case for more QE
Boston Fed president joins calls to continue QE programme as US employment recovery falters
Yellen calls quantitative thresholds a ‘major improvement’ in forward guidance
Federal Reserve vice-chair justifies move to unemployment-based guidance; says clear ‘exit principles’ are important for ending quantitative easing safely
BoE chief economist says QE impact will vary, but not diminish, over time
Spencer Dale says effects of asset purchases depend on the time and place they are conducted; Bank of Japan’s shocking policy announcement may have been necessary to correct misperceptions
Kuroda unveils radical plan to end Japanese deflation
Measures aim to double monetary base in two years, with asset purchases no longer constrained by banknote rule; mixed response as questions raised over whether yet more easing will work
ECB’s Cœuré damns ‘Panglossian’ view of currency war danger
ECB board member’s comments on ‘dangerously alluring’ monetary easing come a week after Bernanke claimed widespread QE is an ‘enrich thy neighbour’ policy
Fed’s Lockhart advocates ‘wait and watch’ approach to asset purchases
Atlanta Fed president acknowledges risks surrounding ever more quantitative easing, but says purchases should not diminish until it is clear the economy has traction
Michael Woodford backs combining nominal GDP and inflation target
Leading monetary policy theorist advocates immediate fiscal transfer to the public, funded by central bank purchase of government debt, coupled with adoption of nominal GDP target
Bernanke denies QE represents competitive devaluation
Fed chairman plays down effect of asset purchases on exchange rates and emerging markets; Axel Weber says countries can lean against QE if necessary, but highlights more serious flaws
Fed pays $88bn in profits to US Treasury
Federal Reserve makes large profit on securities holdings in 2012; follows warnings from Ben Bernanke and Fed researchers that remittances are not likely to remain elevated
BoE asset purchases sit on knife-edge
Bank of England rejects further asset purchases in what is assumed to be a ‘close call’; UK finance minister could alter MPC remit in upcoming budget
Philadelphia Fed president demands end to QE
Charles Plosser says asset purchases should be phased out gradually and halted before the end of the year; ‘meagre benefits’ are outweighed by threat to price stability
Yellen says monetary easing needed to support labour market
Federal Reserve vice-chair says labour market should take centre stage in Fed’s monetary policy; does not believe asset purchases are threatening financial stability
Japan’s Kuroda signals ‘substantive step change’ in fight against deflation
Haruhiko Kuroda, nominated as the next Bank of Japan governor, says the central bank is not doing enough to stimulate inflation
Bernanke commits to continuing asset purchases
Fed chairman says benefits of ongoing monetary policy stimulus are clear; urges US government to delay bulk of impending spending cuts
BoE’s Fisher sees longer horizon for asset purchases
MPC member Paul Fisher says Bank of England should consider switching to a more gradual pace of asset purchases over a longer period of time
BIS paper urges policy-makers to consider co-ordinated bond strategy
Research finds effective response to a bond market crisis has become more difficult due to heavily laden central bank balance sheets, raising the need to better co-ordinate a crisis framework
Fed’s Powell and Rosengren hit back at ‘fiscal crunch’ research paper
Research suggests Fed is constrained by precarious US finances, but Fed governor and president offer alternative conclusions