Deflation
BoJ’s Nakamura declares ordinary policy tools redundant
In a high profile speech in Fukuoka last month, Bank of Japan’s Seiji Nakamura tells business leaders that ordinary channels of the transmission mechanism are not working
MPC’s Miles leaps to the defence of QE
Rate-setting committee’s external member David Miles says the Bank’s asset purchase programme has shored up the private sector despite focus on gilt purchases
Export recovery will lose speed: BoJ’s Yamaguchi
Bank of Japan deputy governor Hirohide Yamaguchi says pace of export and production recovery to slow, but economy will gain momentum in the summer
Bank of Japan – Minutes (25 and 26 Jan)
Minutes of the Japanese central bank’s most recent policy meeting show members felt December measures had heightened effectiveness of policy easing, cabinet representatives emphasises achieving positive inflation as soon as possible
Jordan cuts to boost growth
Jordanian central bank shears half a percentage point off its key overnight deposit rate to stimulate the flagging domestic economy
Bank of Japan – Public Opinion Survey
Japanese central bank’s survey on public views and expectations shows more expect further economic woe
Shirakawa slams govt “misunderstanding”
Japanese central bank governor Masaaki Shirakawa defends policy actions and says calls for more monetary easing are fundamentally misguided
Monthly report (January) – Bank of Japan
Bank of Japan sees upward pressure on corporate goods prices, increases in exports and production
BoJ more optimistic on growth, deflation
Bank of Japan lifts economic projections in sign it sees policy as sufficient
S&P places Japan on negative watch
Rating agency argues fiscal leverage has diminished; decision comes after central bank opts not to extend quantitative easing
Shirakawa pledges to keep policy loose
Japanese governor Masaaki Shirakawa reiterates the central bank’s commitment to tackle deflation as figures show more people expect prices to fall over 2010
BoJ partly to blame for lost decade: CEPR paper
CEPR looks at the contribution of the stock of money to the macroeconomic outcomes of the 1990s http://www.cepr.org/pubs/new-dps/dplist.asp?dpno=7608
BoJ rate-setter hints at further loosening
Bank of Japan MPC member says the central bank is open to further monetary easing, depending on the situation in markets
US disinflation more likely than inflation: Fed’s Rosengren
Boston Federal Reserve’s Eric Rosengren sees inflation risks to the downside
Foreign demand for currencies and the Friedman rule
A new paper from two economists at Columbia University finds that the Friedman rule ceases to be Ramsey-optimal when foreign demand is taken into consideration
Raise inflation target to avoid slump – IMF report
International Monetary Fund study looks at how monetary policy can help hold off a protracted deflationary and economic slump when policy rates are near zero
Japanese wages plunge in June
Record fall in pay adds to fears of deflationary spiral in world's second-largest economy
Fed declares victory on deflation risks
The Federal Open Market Committee (FOMC) on Wednesday signalled that it no longer believes a serious threat of deflation exists.
RBI's Subbarao dismisses deflation worries
The governor of the Reserve Bank of India (RBI) has dismissed fears that the country's economy could suffer a prolonged bout of falling prices, saying that there was "no concern of deflation."
ECB dissenter Orphanides heralds deflation threat
Athanasios Orphanides, the governor of the Central Bank of Cyprus and a staunch advocate of a looser monetary-policy stance, has warned of the increasing threat of the eurozone deflation.
Long-run forecasts a good anti-deflation tool
The Federal Open Market Committee's new long-run inflation forecast reduces the chance of a deflationary spiral, a new paper form the San Francisco Federal Reserve posits.
Fed's Stern: recession could end in mid-2009
In one of the most bullish assessments of the state of the US economy by an official of the Federal Reserve since the start of the crisis, Gary Stern, the long-serving president of the Federal Reserve Bank of Minneapolis, said that the recovery could…
IMF staffer urges global effort to stem deflation
An International Monetary Fund (IMF) economist has called on central bankers to begin multilateral talks to stave off worldwide deflation.
How worried should we be about deflation?
Dean Baker argues that fears over deflation have been greatly exaggerated. Policymakers should rather focus on reducing risk premia