Monetary Policy
Nigeria commits to tight monetary stance
Interest rate held at 12% despite decline in growth and core inflation
Norges Bank’s Olsen says inflation targeting is 'more flexible'
Firmly anchored inflation expectations allow economic stability to be considered when setting interest rates
BIS’s Caruana warns of low interest rates risk
Jaime Caruana says low interest rates have created a ‘first-mover disadvantage’ that prevents rates rising and could fuel financial instability
Tail risk evaluated in French paper’s new inflation measure
Study by Banque de France staff finds the expectations of extremely high and low inflation outcomes impacts actual levels
Hungarian paper explores central bank transparency
National Bank of Hungary research identifies areas of transparency that can be exploited to reduce uncertainty in the economy
SNB’s Jordan warns against ‘overburdening’ monetary policy
Swiss National Bank chairman says macro-prudential instruments are better suited to address financial stability
Philadelphia paper praises macro-prudential potential
Macro-prudential policy is a more efficient way to control credit than monetary policy – and it has a limited impact on inflation
Svensson sheds light on Riksbank division
Sveriges Riksbank deputy governor explains schism in central bank’s monetary policy committee; says choice of repo-rate path is flawed
External members again dominate Hungary’s monetary council
The council’s four external members outvote the governor and his two deputies for the third consecutive meeting, minutes show
Fed could extend asset purchases, minutes show
Some FOMC members say additional asset purchases likely to be needed next year to generate sustained improvement in labour market
Inflation jump exposed in BoE report
Bank of England adjusts inflation expectations after an October rise in inflation that some commentators branded as 'embarrassing'
Yellen wants more transparency and a change in forward guidance
Federal Reserve vice-chair Janet Yellen calls for more transparency and supports replacing the calendar date in the Fed’s forward guidance with economic conditions needed to lift the funds rate
Icelandic rates raised as 2013 growth prospects strengthen
Inflation is lower than monetary policy committee expected; likely to be offset by spare capacity and low exchange rate
RBA’s ability to forecast put on trial
Discussion paper finds RBA forecasts inflation more accurately than GDP growth
European fiscal stimulus assessed by Fed paper
Economic Recovery Plan had a sizeable but short-lived impact on GDP
Japan heading for recession as economy contracts in third quarter
Bank of Japan’s back-to-back monetary easing in October was due to a significant weakening in the country’s economic outlook
Bank of Mexico expects inflation to continue falling
Report says inflation will near 4% by end of 2012; growth expectations also revised
Collateral eligibility policy is neglected, says BIS paper
As number of assets accepted as collateral by ECB grows, so does the credit risk faced by Europe’s central bank
Fed paper presents improved model of inflation and unemployment
Authors develop a bivariate model that they believe improves upon univariate benchmarks
RBI director wants to bolster inflation measures
Deepak Mohanty proposes the introduction of inflation-indexed bonds and the expansion of households' survey
Russia holds interest rate as indicators stabilise
Russian central bank board of directors say inflation has fallen to 6.4% and economic activity has slowed
Europe more fiscally balanced than US, Japan and UK, says Draghi
ECB president says euro area has made ‘amazing’ progress with fiscal consolidation
Kenya eases policy with 200bp rate cut
Central bank says financial stability has created conditions for monetary policy to be gradually eased; interest rates cut by 5.5 percentage points in two months
Malawi governor questions the cost of controlling inflation
Charles Chuka considers the potential effects of tightening monetary policy to rein in an inflation rate approaching 30%