Inflation
'Why adopt transparency? Publishing forecasts'-ECB
A new ECB working paper by Petra Geraats has been published called "Why adopt transparency? The publication of central bank forecasts". It provides an explanation for the puzzling fact why several central banks have recently abandoned the usual secrecy…
UK MPC voted unaminously for Feb rate cut-minutes
Minutes of the Bank of England's Monetary Policy Committee meeting in early February 2001 showed all nine members backed the cut to 5.75 percent, with some seeing a case for a half point reduction in borrowing costs.
Cbanks should be pre-emptive - Fed's Gramlich
U.S. Federal Reserve Governor Edward Gramlich said on Feb 20, 2001 central banks had to move preemptively given the time it took for their actions to feed through to the economy. He advocated the use of forward-looking, flexible, inflation targetting as…
BoE pressed to publish dissent on forecasts
Pressure is mounting on the Bank of England to make its inflation forecasts more transparent despite recent attempts by the central bank to make public the divergent views of its policymakers. The Bank's quarterly inflation forecast is closely watched by…
Interview: BoE's MPC member Sushil Wadhwani
Sushil Wadhwani, an "external" member of the monetary policy committee of the Bank of England, explains why he is a "productivity optimist". Over the last decade, forecasters have systematically underestimated GDP growth in the UK and simultaneously…
Bank of England expects growth to slow in Q2 2001
The United Kingdom's annual growth rate will drop to around 2% in the second half of 2001, the Bank of England projected, even as unemployment data showed the number of jobless Britons fell far more than expected in January 2001. In its first quarterly…
BoE's forecast confirms loosening stance
The Bank of England's February 2001 inflation report confirmed marketexpectations that UK interest rates were likely to head down over thecourse of 2001. Mervyn King, deputy governor for monetary stability, who presented thereport despite a bout of flu,…
Goodhart: George should control inflation forecast
The governor of the Bank of England should take full control of the Inflation Report - the central bank's flagship economic forecast - to avoid confusion arising from the disparate input from the nine members of the Monetary Policy Committee, London…
Bank of Mexico confirms 6.5% 2001 inflation target
The Bank of Mexico said on Jan. 31, 2001, it has now fully adopted an inflation-targeting regime and abandoned its previous system of managing monetary aggregates. However, the central bank will continue to use the money market "short" as its main policy…
Monetary mechanism in a high inflation environment
A new discuussion paper from the Research Department of the Central Bank of the Republic of Turkey examines the basic features of the monetary transmission mechanism in Turkey.
Taiwan mulls monetary policy framework change
Taiwan's Central Bank of China (CBC) governor Perng Fai-nan on Monday said the central bank is mulling adjusting its monetary policy-making framework. But Perng said it remains debatable whether an "inflation targeting" framework, which is adopted in New…
US academic applauds S.Africa's monetary policy
A leading Harvard University academic endorsed the South African Reserve Bank's inflation targeting on Tuesday and said the country's monetary policy was in sound health.
Fraga says Brazil inflation on target in 2001
Brazil's central bank president Arminio Fraga said on Thursday that inflation in Latin America's biggest economy was on track at 4% for 2001, despite a pending new minimum wage increase.
RBI governor favours flexible inflation target
Central bank inflation targets should be flexible to allow for varying economic conditions, Reserve Bank of India governor Bimal Jalan said Thursday.
Riksbank hikes rates, policy stance to neutral
The Riksbank said that its 25 basis point hike that raised the repo rate to 4.0% Thursday was based on its new assessment that inflation would rise above the central bank's 2% limit in two year's time in the absence of tighter monetary policy.
Problem with BOE inflation forecast, says Fed Kohn
The Bank of England's forecast round and quarterly Inflation Report don't present a clear picture to policymakers, markets or the wider public, Don Kohn, director of monetary affairs at the US Federal Reserve Board in Washington, said Wednesday.
RBI governor says policy juggling is the best
Many central banks around the world target price inflation, but the RBI has multiple economic targets, says Alan Beattie from the Financial Times.
ECB to publish its economic forecasts
The European Central Bank has decided to publish its internal economic forecasts for the euro-zone to improve the markets's understanding of its monetary policy and dispel criticism of excessive secrecy.
Klein: no medium-term economic effects of violence
David Klein, Governor of the Bank of Israel, said in an interview with the "Quarterly Journal of Central Banking" that there would be no major economic repercussions from the renewed violence in Israel.
Interview with BoI governor David Klein
With the Middle East teetering on the brink of armed conflict, weinterview the newly appointed governor of the Bank of Israel, DrDavid Klein.
Colombia cenbank sees 2000 inflation 8.5% - 10%
Colombia's central bank said that despite high world oil prices, thecountry is on track to meet the 10% inflation target for this year agreedwith the International Monetary Fund.
Jaime Caruana forecast 2% inflation in 2001
Jaime Caruana, who replaced Luis Angel Rojo as Bank of Spain governor earlier this year, predicted that Spanish inflation would remain nears its 2% limit over the next year.
Latin America: Future inflation convergence
Leonardo Leiderman, head of Latin American Research at Deustche Bank and former head of research at the Bank of Israel, gives a report on the move towards inflation convergence in Latin America.
UK inflation to rise above target, says Bank
In its latest quarterly inflation forecast, the Bank of England forecasts inflation to go above its 2.5% target in two years time. But deputy governor Mervyn King says this does not mean interest rates have to rise.