Category Archives: Central banking

This category considers issues pertaining to central banking and overall regulation of the banking system.

The reality of Germany and the buffoons in Brussels intervenes …

This week, I seem to have been focused on central banking this week, which is not my favourite topic, but is all the rage over the last several days given the decision of the Bank of Japan to use negative … Read the rest of this entry »

Posted in Central banking, Eurozone | 10 Comments

The ECB could stand on its head and not have much impact

As the Bank of Japan began its hopeless quest to stimulate growth with negative interest rates (see my blog yesterday – The folly of negative interest rates on bank reserves), the latest data from the ECB came out on lending … Read the rest of this entry »

Posted in Central banking, Eurozone | 8 Comments

The folly of negative interest rates on bank reserves

On Friday (January 29, 2016), the Bank of Japan issued a seven-page document – Introduction of “Quantitative and Qualitative Monetary Easing with a Negative Interest Rate” – which left me confounded. Do they actually know what they are doing or … Read the rest of this entry »

Posted in Central banking, Japan | 18 Comments

Globalisation and currency arrangements

In today’s blog, I continue the discussion that I started last Thursday, and, specifically, focus on the critique that commentators have made about the loss of state control of their economies as a result of globalisation. The thesis advanced by … Read the rest of this entry »

Posted in Central banking, Demise of the Left | 18 Comments

Central bank propaganda from Minneapolis

My blog in the next week or so will be possibly rather holiday-like given the time of the year and the fact that I have rather a lot of travel and related commitments to fulfil over that period. So I … Read the rest of this entry »

Posted in Central banking, US economy | 27 Comments

There was no reason for the US to raise interest rates

Last week (December 16, 2015), the US Federal Reserve Bank raised its policy interest rate by 25 basis points (1/4 percentage point) for the first time since 2005. In its – Opening Statement – the Federal Reserve chairperson said that … Read the rest of this entry »

Posted in Central banking, US economy | 6 Comments

Friday lay day – Eurozone, lessons have not been learned

It’s my Friday Lay Day blog and my head is firmly in the 1960s and being helped along by music from the early 1970s. I’m currently trying to trace the evolution of intellectual ideas in the French Ministry of Finance … Read the rest of this entry »

Posted in Central banking, Eurozone, US economy | 18 Comments

Overt Monetary Financing – again

Adair Turner has just released a new paper – The Case for Monetary Finance – An Essentially Political Issue – which he presented at the 16th Jacques Polak Annual Research Conference, hosted by the IMF in Washington on November 5-6, … Read the rest of this entry »

Posted in Central banking, Economics, Hyperinflation, Inflation | 39 Comments

Friday lay day – banksters misbehaving again but Portugal offers hope

Its my Friday lay day blog and today a short topic on banking. The Fairfax economics editor Peter Martin had a good story yesterday (October 22, 2015) – Westpac, Commonwealth Bank protect mortgage profits no matter what – which bears … Read the rest of this entry »

Posted in Central banking, Eurozone, Friday | 19 Comments

Monetary policy didn’t work as intended

I read two articles (among others) on the flight over to Europe yesterday that are worth commenting on. The two articles discussed the role of monetary policy and, in particular, whether the policy changes to address the crisis had achieved … Read the rest of this entry »

Posted in Central banking, Economics | 17 Comments