Yield curve
Yield curve models overstate chances of US recession – ECB research
Models need to account for effects of QE asset purchases on bond premia, authors say
Collateral management services: National Bank of Georgia/Montran
Duo developed Georgia’s fully automated new collateral framework
Machine learning model flags importance of yield curve for crisis prediction
Model has potential to allow policy action before crisis hits, BoE paper says
Bernanke offers ideas for Fed’s policy framework review
Unconventional policies are “preferable” to raising inflation target and can still be enhanced, Bernanke argues
Mauritius to roll out forward-looking policy framework
New monetary policy operating framework will look to smooth yield curve
ECB’s QE boosts equity prices beyond fundamentals – DNB research
Negative sovereign bond yields encourage investors to increase exposure to riskier assets
Fed’s Brainard calls for major framework overhaul
Yield curve caps, flexible inflation targeting and more active macro-prudential policy could help, governor says
Will the Fed pass its year-end funding test?
An unprecedented rate spike in September prompted the Fed to inject billions into funding markets
Swiss governor rules out SNB transfers to pension funds
Negative rates are hurting sector but pension reform is solution, Jordan says
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
30 years of central banking
Central banks face credibility tests on a number of fronts
Global growth will strengthen in 2020, says strategist
Central banks should be cautious about responding to manufacturing slowdown, Kevin Gardiner says
Overcoming deflation: Japan’s experience and challenges ahead
Haruhiko Kuroda explains how Japan’s long battle against deflation may offer insights for others
Trump criticises ‘clueless Jay Powell’ as markets plunge
US equity markets face sell off and 30-year treasuries dip below 2% for first time
The future of balance sheet policies
What tactics will central banks deploy?
Central bank ‘put’ can harm market function – Kuroda
BoJ chief says easing measures are working, but central banks must be wary of side-effects
Construction trends can predict yield curve inversions – St Louis Fed
Housebuilding expectations should be considered when forecasting economic activity, researchers say
Putting modern monetary theory to the test
Sayuri Shirai asks whether MMT might hold the solution to Japan’s stagnation
Risk of hitting ZLB in next three years is low – San Francisco Fed paper
ZLB should not be a concern for monetary policy at this stage, researcher says
Changes in uncertainty can affect US long-term rates – ECB paper
Researchers say “uncertainty shocks” may account for about one-half of long-run rate changes
Fed should consider yield curve targeting – Brainard
NY Fed research outlines how US central bank could target longer-run interest rates
BoJ vows to continue ‘powerful’ easing for longer
Central bank promises low rates will last longer, and unveils raft of other measures
FOMC’s normalisation ‘largely successful’, St Louis Fed president says
Fed must “tread carefully” though, as inflation and yield curves offer challenges, Bullard says
RBNZ signals future rate cut on international weakness
Looser policies in the US and eurozone are putting upward pressure on New Zealand dollar