Deflation
Tanigaki: govt. must consider BoJ's deflation view
Japanese Finance Minister Sadakazu Tanigaki said on Tuesday 2 November that the government will need to consider the Bank of Japan's outlook for an end to deflation in 2005 when formulating future economic policies.
Why the Bank of Japan keeps on doing nothing
For pretty much all of 2004, the Bank of Japan has done nothing. And looking ahead to 2005, it's not expected to do a whole lot more, this article suggests. That the BOJ isn't having a serious discussion of deflation ending anytime soon throws cold water…
BoJ paper on deflationary traps
This Bank of Japan discussion paper provides a theoretical overview of monetary and fiscal policy with the potential to engineer an exit from a deflationary trap, which the author defines as sustained deflation in the presence of zero interest rates.
IMF optimistic on Japanese economy
The International Monetary Fund upgraded its economic outlook for Japan on Wednesday 11 Augustand said it expects price deflation there to end next year.
Price stability and Japanese monetary policy
Many observers have concluded that central banks are powerless to end deflation when short-term interest rates are near zero. This Bank of Japan Discussion Paper by Robert Hetzel, Vice President of the Research Department, Federal Reserve Bank of…
Comments on Price stability & Japanese mon policy
This Bank of Japan Discussion Paper summarises the authors' main points of agreement and disagreement with respect to the proposal written by Dr Hetzel. The authors agree with Dr Hetzel's proposal on four points but disagree with the proposal on three…
Japan 'half way' to overcoming deflation
While deflation has shown signs of easing in Japan, rising raw material prices still haven't affected consumer goods, signalling that price declines will continue, Japan's Cabinet Office said in its white paper on the economy.
FOMC minutes, 4 May, show worries over inflation
Minutes from the Federal Reserve's 4 May FOMC meeting released on 1 July showed that nearly two months before the Fed raised short-term interest rates on Wednesday, some board members made it clear that they were more worried about inflation than Alan…
BOJ's Muto says unclear when deflation will end
A Bank of Japan official said on Tuesday 1 June that it was unclear when deflation in Japan would end and that the central bank would maintain its quantitative easing policy for a "considerable time".
Government and BOJ to co-op on deflation
The Japanese Government and central bank will work together to end deflation and support a recovery in the world's second-largest economy, Finance Minister Sadakazu Tanigaki told Asian counterparts in South Korea.
BOJ's Fukui sees hope for prices
The governor of the Bank of Japan, Toshihiko Fukui, said on Sunday 2 May that he saw hope for ending six years of falling prices as early as the end of the current fiscal year, which began April 1.
Japan's Fukui: rough road until end of deflation
Bank of Japan Governor Toshihiko Fukui said on Thursday 11 March that he saw a "rough road ahead" until the end of deflation despite signs of recovery in the Japanese economy, repeating the BOJ's commitment to an easing policy.
BOJ's Iwata says strong GDP won't change stance
The Bank of Japan's deputy governor Kazumasa Iwata said on Wednesday 18 February that the BOJ's monetary easing policy will stay unchanged despite strong GDP figures, and added that deflation remains a stubborn problem.
Japan's deflation improving, not ending: Fukui
Japan's deflationary trend is easing but there no sign exists yet of it ending entirely, Bank of Japan Governor Toshihiko Fukui said on Friday 30 January.
U.S. inflation still no worry - Fed's Broaddus
In a speech on Monday 15 December Richmond Fed president Alfred Broaddus said a short-term rise in inflation would be nothing to worry about and the prospects of deflation were lower than a few months ago. "Accommodative monetary policy could mean, could…
BoJ expects deflation to continue into 2005
In its twice-yearly economic report released Friday the Bank of Japan said that it expects deflation to continue through to March 2005, according to AFX Asia. "Consumer prices are forecast to continue posting small declines in this and next fiscal year …
Fukui chief vows to fight deflation
Toshihiko Fukui, governor of the Bank of Japan, said on Tuesday 28 October that he sees no immediate end to Japan's deflation problem, according to AFP, but he pledged to continue the struggle with high levels of liquidity. "Just because we have a…
Koizumi aide raps BOJ for deflation failure
Former vice-minister for international affairs at Japan's finance ministry Haruhiko Kuroda on Sunday 26 October launched a strong attack on the Bank of Japan (BOJ) for failing to perform its legal duty of halting deflation, according to The Business…
Poole on Economic Growth & the Real Interest Rate
In a speech on 'Economic Growth and the Real Rate of Interest' given on 14 October, William Poole of the Federal Reserve Bank of St. Louis said his best guess is that the current stance of policy makes adequate allowance offsetting the risk that the…
Alan Greenspan defends worries about deflation
Opening a two-day conference on monetary policy sponsored by the Federal Reserve Bank of Kansas City, Alan Greenspan said on Friday 29 August that the Fed was right to worry about deflation even though the threat was remote as uncertainty remained "the…
Perspectives on deflation
In this issue we present a variety of views on the threat of deflation. Here we offer a summary and our own conclusion.
Deflation holds no terrors for Hong Kong
In the first of a three-part feature, Tony Latter, former deputy chief executive at the HKMA, cites Hong Kong's experience to argue that mild deflation may not be too injurious.
Why deflation is different
The consequences of deflation are much worse than mere inflation in reverse, argue Thomas Cargill and Elliot Parker.
Kenneth Rogoff - Escape from global deflation
In an article published in the Nihon Keizai Shimbun, Kenneth Rogoff of the IMF said the odds of global deflation are not high, but if it were to set in, the world's central banks have the tools needed to address the problem. The path out, however, is…