Inflation targeting
Czech rates on hold, hikes to follow
The Czech central bank voted 4-1 to keep interest rates on hold at 2.75% on 28 June during its monthly policy meeting. Central bank chief Zdenek Tuma said there was every reason to increase borrowing costs, but that it had not been vital that the central…
Albanian rates up by 0.25%
Albania's central bank raised interest rates by 25 basis points to 5.75% on 28 June. The central bank's governor, Adrian Fullani, said the risk of inflation had grown stronger lately, prompting the central bank's board of directors to act.
Rates on hold in Chile
Chile's central bank held its overnight lending rate unchanged for a fifth month in a row, but suggested that higher interest rates may be necessary later this year as inflation accelerates.
IMF backs inflation targets for Armenia, Georgia
A new paper from the IMF makes a case for a gradual transition to full-fledged inflation targeting in both Armenia and Georgia in the medium term.
IMF: Turkish CB independence essential for IT
The independence of Turkey's central bank is essential for the success of inflation targeting, the IMF said in its 2007 article 4 report.
The importance of monetary aggregates
This ECB working paper presents a strong argument in favour of using monetary aggregates as an analytical tool for predicting future inflation.
Monetary policy and the labour market
This speech Irma Rosenburg, first deputy governor of the Swedish Riksbank, explores the relationship between monetary policy and the labour market.
Riksbank board divided on rate hold decision
The Swedish Riksbank's monetary policy meeting was divided in its recent decision to leave the rate unchanged, according to reports.
Sri Lanka's new governor takes on inflation
Nick Carver spoke with the Ajith Nivard Cabral, governor of the Central Bank of Sri Lanka
Inflation targeting: a user's guide
A new paper from the IMF spells out what is required to target inflation writes Narayan Lakshman of Central Banking
Three future risks
So far so great says Stephen King. What of the next decade?
Reflections and comparisons
Christian de Boissieu scrutinises the Bank's record
Interview: Ajith Nivard Cabraal
In an exclusive interview, the governor of the Central Bank of Sri Lanka discusses recent developments in monetary policy and the possible introduction of inflation targeting
Demonstrating the virtues of self-restraint
The UK economy and Bank have benefited from its narrow focus, says Adam Posen
BoE's inflation-targeting under scrutiny
According to this article from Bloomberg, published Monday 30 April, surging UK property prices are throwing into question the inflation-targeting approach of the Bank of England.
Sveriges Riksbank Economic Review, No 1 2007
The Sveriges Riksbank published its Economic Review No 1 2007 on Wednesday 4 April. The latest edition includes the article "The role of academics in monetary policy: a study of Swedish inflation targeting".
IMF Paper: Balance of payments crises under IT
This IMF Working Paper analyzes a small open economy model under inflation targeting. The Paper shows why such a monetary regime is vulnerable to speculative attacks that take place over a short period rather than instantaneously.
Knight on inflation targeting in emerging markets
In the speech 'Inflation targeting in emerging market economies' given on 4 April Malcolm Knight of the BIS said inflation targeting is not of course the only way to build monetary policy credibility.
Fed's Mishkin said to fuel inflation target
According to an article from the Financial Times, published Monday 26 March, financial markets are likely to interpret Frederic Mishkin's recent speech (reported separately today) as further evidence that the Federal Reserve is stepping away from a…
BOJ's Fukui repeats to hike rates slowly
Bank of Japan governor Toshihiko Fukui told lawmakers Monday 26 March that the central bank will maintain its accommodative monetary policy stance for now by raising interest rates only slowly.
Central bank performance under inflation targeting
This Bank of Canada Working Paper analyses the inflation record of inflation targeting central banks. The authors find that a higher inflation target and a larger inflation control range are associated with more variable inflation outcomes.
Report says Fed debating 'soft' inflation target
Federal Reserve officials have discussed whether an implicit, or "soft" inflation target might be preferable, the Wall Street Journal reported on Friday 2 February.
Does inflation targeting matter for EMEs?
This Working Paper presents an empirical assessment of the performance of EMEs that have adopted inflation targets to conduct monetary policy.