Articles on Monetary policy

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Former Reserve Bank of India Governor Raghuram Rajan. He left the job after concerted political attacks. Reuters/Shailesh Andrade

Reserve Bank independence: sobering lessons from India and South Africa

Attacks on the South African Reserve Bank and events in India that led to the exit of the governor of the country's central bank are a warning that banks aren't immune from political meddling.
Glenn Stevens upheld the independence of the RBA in his time as governor. Mick Tsikas/AAP

The legacy of Glenn Stevens in three lessons

Glenn Stevens' legacy shows how to maintain the independence of the Reserve Bank in crisis as well as the limits of monetary policy.
Much like a Rio Olympics basketball match, the United States’ economy is coming out on top while Australia lags behind. Jim Young/Reuters

Vital Signs: US scores while Australia struggles

The US economy is improving off the back of jobs figures while in Australia, the government is being warned by the Reserve Bank to step up its game.
African governments have some hard decisions to make if they want to breathe new life into the ‘Africa Rising’ narrative. Shutterstock

Africa needs smart macroeconomic policies to navigate headwinds

Africa needs to navigate the difficult economic waters that lie ahead without undoing the gains of the past two decades. Success will require difficult political choices.
Reserve Bank of India Governor Raghuram Rajan has taken a no-nonsense approach to curbing inflation. Danish Siddiqui/Reuters

India debates monetary policy in shadow of US rate rise

Monetary policy involves more than managing inflation, which is why it sometimes takes a committee to decide interest rates.
Iraqi troops training with the US Army June 2015. US Army/Reuters

The politics of paralysis: What the Fed and Iraq have in common

On the face of it, Iraq and the US Federal Reserve share little. One is a country plagued by division, war and mayhem since the US invasion of 2003. It is a brutal world where there are no friends, few…
South African Reserve Bank Governor Lesetja Kganyago is the third since the bank adopted a more transparent way of operating. Reuters/Siphiwe Sibeko

Clearing up the mystique of central banking

The South African Reserve Bank is a fine example of clear communication of the decision whether to hold, increase, or decrease interest rates. It also gives clear signals of future decisions.
The cut to China’s reserve requirement ratio (RRR) can also be seen as a move against China’s unregulated shadow banking sector. Flickr/Mike Behnken

China’s monetary easing to bolster growth, tackle shadow banking

The 100 basis points cut by the People's Bank of China is as much as about containing unregulated credit within China as a bolster to slowing growth.
Uncertainty around Greece defaulting on debt repayments continues to dominate the global outlook. AAP/EPA/Aexandros Vlachos

Financial markets expect a cut, but RBA Shadow Board says hold

Financial markets have factored in a cut to Australia's cash rate, but economists - including the CAMA Shadow Board - aren't so sure.

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