Quantitative easing
Central banks should not get accustomed to QE: France’s Noyer
Banque de France governor Christian Noyer says central bank intervention was essential during crisis but should not be perceived as regular practice
Japan edges towards zero bound
Bank of Japan cuts benchmark rate to 0% to 0.1% range, announces further stimulus
NY Fed’s Sack on FOMC’s policy shift
New York Federal Reserve executive vice president Brian Sack said further measures represent meaningful shift in balance sheet path
Bank’s Posen makes case for further stimulus
Bank of England Monetary Policy Committee member Adam Posen advocates use of more “monetary action” to stimulate economy
BoJ doing all it can to bolster growth, says Shirakawa
Bank of Japan governor Masaaki Shirakawa points to central bank’s multiple efforts to boost activity
Rajan, Krugman renew spat
Ex-IMF chief economist Raghuram Rajan and Nobel laureate Paul Krugman revive clash over central banks' role in the crisis
Posen: Bank’s next step should be ‘heavy duty’ credit easing
Bank of England’s Posen suggests different tack if UK’s recovery remains anaemic
Monetary policy best placed to boost short-term growth: King
Bank of England governor Mervyn King tells trade unionists that monetary policy is best suited to revive flagging broad money figures; says fiscal emphasis should be on debt reduction
Fed cannot bear full burden of job creation: Fisher, Plosser
Regional Federal Reserve presidents Richard Fisher and Charles Plosser say loosening monetary stance further will not cure unemployment ills; monetary policy no panacea for macroeconomic problems
Focus on banks’ incentives must continue post-crisis: Bank’s Bean
Bank of England deputy governor Charles Bean says crisis focus on bank incentives must remain; financial market problems require macroprudential instruments
UK think tank forecasts 8% rates by 2012
Though now at record lows, Policy Exchange chief economist Andrew Lilico says interest rates in the United Kingdom may rise to 8% by 2012 to overcome double digit inflation
Kansas City Fed: QE effective at zero bound
Kansas City Federal Reserve study shows quantitative easing is effective at lower interest rate bound
New York Fed details how it plans to implement latest policy move
New York Federal Reserve says it will hold levels of domestic securities at $2.054 trillion by buying long-term Treasuries; plans to steer away from scarce markets
King takes firm line on QE, direct lending
Bank of England governor Mervyn King says small businesses’ problems won’t be solved by direct help from the central bank; stresses that banks will be weaned off liquidity support
FOMC pledges to maintain scale of asset purchases
Federal Reserve fails to announce additional quantitative easing but pledges to keep size of purchases at current levels; calls for more easing spurred by weak jobs data
Fed’s Bullard calls for further QE
St Louis Federal Reserve president James Bullard says United States must commit to further stimulus if it wants to avoid a deflationary trap like Japan
Bank of England – Asset Purchase Facility Annual Report (2009/10)
Asset Purchase Facility Annual Report shows Bank £1.75 billion down on back of decline in value of gilt stock
Fed’s response averted a depression: Blinder
A paper co-authored by former Federal Reserve governor Alan Blinder says the central bank’s extraordinary polices prevented the country from entering a second Great Depression
King stresses wait-and-see approach to rate-setting
Bank of England governor Mervyn King dismisses suggestions that one or another view dominates rate-setting committee; deputy Charles Bean reiterates question marks over effects of quantitative easing
Quantitative easing doesn’t work: Woodford
National Bureau of Economic Research paper co-authored by Michael Woodford says quantitative easing has little impact, but credit easing does occasionally when targeting specific assets
Former MPC member Blanchflower unconvinced by Bank’s QE paper
Former Bank of England Monetary Policy Committee member David Blanchflower highlights large errors in results used to explain impact of QE programme
Bernanke says central bank independence essential during periods of QE
Federal Reserve Chairman Ben Bernanke says central bank must retain independence during periods of unconventional policy
Eurozone crisis weighs on Swiss exit plans: SNB's Jordan
Swiss National Bank deputy head Thomas Jordan says normalisation of monetary policy hampered by eurozone debt crisis
IMF: allowing assets to run to maturity best exit strategy
IMF study on Japan’s experience of quantitative easing shows best exit strategy is to allow asset purchases to run to maturity