Expanding the Boundaries of Monetary Policy in Asia and the Pacific

Book excerpt: Bank Indonesia and the Bank for International Settlements (BIS) co-hosted a research conference on "Expanding the boundaries of monetary policy in Asia and the Pacific" on 20-21 August 2015 in Jakarta. The event was the wrap-up conference of a research programme of the BIS Representative Office for Asia and the Pacific that had been approved by the Asian Consultative Council of central bank Governors in February 2014.The topic was motivated by the increased importance of financial stability in the conduct of monetary policy and the expanding set of monetary policy tools being employed. Within this overall theme, the following issues for the Asia-Pacific region were identified: (i) monetary policy objectives and strategies; (ii) instruments to manage monetary conditions; (iii) the assessment of monetary conditions; and (iv) transmission mechanisms.The conference brought together senior officials and researchers from central banks, international organisations and academia. This volume is a collection of the speeches, papers and prepared discussant remarks from the conference. This foreword summarises the contents of the conference and provides a synopsis of the discussions for time-constrained readers.While the full publication can be downloaded using the above link, individual contributions are available separately:'http://ssrn.com/abstract=2860988' Foreword to: Expanding the Boundaries of Monetary Policy in Asia and the Pacific'http://ssrn.com/abstract=2861281' The Challenges of Expanding the Boundaries of Monetary Policy'http://ssrn.com/abstract=2861309' Measuring the Effects of Monetary Policy on House Prices and the Economy'http://ssrn.com/abstract=2861329' Maintaining Price and Financial Stability by Monetary and Macroprudential Policy - Evidence from Asia and the Pacific'http://ssrn.com/abstract=2861330' A Comparison of Liquidity Management Tools in Seven Asian Economies'http://ssrn.com/abstract=2861331' A Spectral Perspective on Natural Interest Rates in Asia-Pacific: Changes and Possible Drivers'http://ssrn.com/abstract=2861312' Managing Monetary and Financial Stability in a Dynamic Global Environment: Bank Indonesia's Policy Perspectives'http://ssrn.com/abstract=2861491' Monetary Independence in a Financially Integrated World: What Do Measures of Interest Rate Co-Movement Tell Us?'http://ssrn.com/abstract=2861493' Financial Globalisation and Monetary Independence.