Average inflation targeting
New FOMC target may be shifting expectations – research
Cleveland Fed paper says some professional forecasters driving rise in inflation expectations
Central Banking Awards 2021: winners in full
Winners in 2021 include the Federal Reserve, Alejandro Díaz de León and Charles Goodhart
Central Banking Awards 2021: final winners unveiled
Awards announced for central bank of the year, economics, risk management and more
Central bank of the year: The Federal Reserve System
Overwhelming Fed interventions forestalled a damaging global financial crisis
New monetary frameworks involve risk trade-offs – IMF’s Adrian
Lower-for-longer rates may help to avoid deflation, but could contribute to medium-term volatility
Mário Centeno on monetary-fiscal interaction in the eurozone
Bank of Portugal governor says ECB is not being overrun by former finance ministers, must improve the definition of its inflation target, and has no need for YCC
ECB leaves stimulus unchanged
Lagarde says prompt implementation of EU-wide fiscal stimulus is key to eurozone recovery
Inflation could ‘approach’ FOMC target quicker than expected – George
Kansas City Fed president says decline in inflation has been idiosyncratic
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor says ECB ready to boost stimulus and Basel reforms not diminished by Covid-19 exceptions
2020: The year in review
The past 12 months have been marked by crisis-fighting and losses, but also innovation
What does 2021 hold for the ECB?
Former officials reflect on AIT, the strategy review, QE options and new tools
Fed faces longer-term challenges under new policy strategy
Steve Kamin warns central bank may not have paid enough attention to why r* has fallen
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan
The dawn of average inflation targeting
Failure to explain how the Fed calculates its ‘average’ for AIT creates risks
Otmar Issing on the art of central bank communications
EMU architect critiques “whatever it takes”, forward guidance, Fed’s AIT and ECB’s strategy review
Rehn says ECB should adopt average inflation targeting
Finnish governor says current target has “asymmetric downward bias”
The ultimate store of value
Róbert Rékási speaks to Central Banking about how Covid-19 has changed gold investment trends
Has Covid-19 made gold shine brighter?
The price of gold has skyrocketed this year, but central banks have not flocked to invest as they have done in the past, write Rachael King and Victor Mendez‑Barreira.
Fed holds rates as US recovery falters
Powell calls for fiscal stimulus and says further Covid-19 wave is hitting poor hardest
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Fed minutes reveal debate over forward guidance
Some FOMC members warned stronger forward guidance in new framework would tie Fed’s hands
Fed’s new framework splits opinion
Former Fed staff offer mixed reactions to AIT; most call for more refined communication
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
Fed’s new framework has had little impact on expectations – NBER paper
Early evidence suggests few people heard the announcement and fewer understood it