Average inflation targeting
Inflation offers route to unconventional policy exit
Asset purchases and negative rates can be reversed, but Fed/ECB policy divergence raises major risks
BoI’s Yaron stresses flexibility offered by inflation target range
Bank of Israel has been studying the possibility of modifying its inflation target
Iceland meets high inflation with second 100bp hike
MPC forecasts more increases as Nordic country confronts internal and external pressures
Reserve Bank of Australia joins 50bp club
Australian central bank continues post-pandemic tightening with second, larger hike
Fed’s favoured inflation gauge falls
PCE inflation reading for April 2022 was down from March
Zimbabwe freezes all bank lending
President announces controls on money creation to stem decline of currency
Iceland raises rates again as inflation reaches highest level since 2012
MPC accelerates current cycle as experts point to problems in housing market
Pierre Wunsch on inflation, forward guidance and policy tightening
Belgium’s governor speaks about models, reversing unconventional policies and other challenges
Fed keeps investors guessing on speed and endpoint of tightening
Investors generally agree the Fed will tighten policy, but how much and when are unclear
2021: The year in review
Central Banking looks back at the stories that made the biggest impact in 2021
Bank of Canada renews monetary policy framework
Central bank conducts first “systematic” study of other frameworks since it adopted inflation targeting
US inflation reaches new peak
CPI figure hits 6.8%, the highest rate in nearly four decades
Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
Mervyn King attacks central bank theories of inflation
Expectations are “too fragile” to serve as an anchor for inflation, former BoE governor says
US records highest CPI inflation rise since 1990
NY Fed detects slight rise in short-term consumer inflation expectations as real wages fall
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
Fed’s Bullard believes a ‘five-year window’ for AIT is ‘realistic’
Too much precision can “get you into trouble”, says St Louis Fed chief
Hiking rates before asset sales may constrict credit – paper
Kansas City Fed research says raising the fed funds rate first may cause yield curve inversion
Dallas Fed predicts 2022 core inflation above 2%
Economists expect auto and transportation costs to abate, but spike in housing prices
James Bullard on Fed policy, action and governance
St Louis president calls for tapering, quantifies AIT and details Congress’s role in Fed ethics
Clarida: ‘Stagflation is not my baseline case’
Fed vice-chair says inflation situation not akin to 1970s
RBNZ begins monetary tightening with 25bp hike
Central bank is confident inflation will return to target, but says growth will be “volatile”
Larry Summers on stagflation risks, lessons from Delphi and never-ending ‘punch’
Ex-US Treasury head speaks about fiscal ‘overexpansion’, Fed/Treasury debt discord and ‘unknown unknowns’
Monetary Policy Benchmarks 2021 report – executive summary
Insights into the staff that work on monetary policy, decision-making, tools, transparency and market operations