Inflation targeting
Uzbekistan boosts transparency with new central bank law
New law strengthens inflation targeting as country wrestles with ambitious reforms
Risk of hitting ZLB in the future reduces inflation today – Fed paper
Policy-makers could use “risk-adjusted policy rule” to offset risk of undershooting, researchers say
Dutch governor warns of unconventional policy hazards
Knot also argues for expansionary fiscal policy and symmetrical inflation target
De Guindos says ECB ‘implicitly has symmetrical targeting policy’
ECB vice-president backs Macron plan for common eurozone fiscal policy
Fed likely to ‘institutionalise’ policy framework review, Powell says
Move would likely be akin to the Bank of Canada’s routine five-year review
Brazil cuts rates to new record low as inflation drops
Rater-setters reduce key Selic rate by 50 basis points to 5%
Chile cuts rates again following weeks of protests
Below-target inflation requires more monetary stimulus, says the central bank
ECB monetary policy statements should change – Italian governor
Visco rejects idea of putting names to votes as eurozone governors differ on inflation policy
Tackling ‘dead-end’ monetary policy
A shift to lower inflation targets would help central banks escape forever-loose monetary policy, writes former IMF chief Jacques de Larosière
Trichet defends Draghi’s legacy against growing criticism
Former ECB president says unconventional monetary policy measures have helped to avoid deflation
Inflation in Mexico falls to target for first time since 2016
Minutes say officials acknowledge price increases are falling faster than previously anticipated
Bank of Uganda implements 100bp rate cut
Rate setters think below-target inflation offers opportunity to support economic growth
Bank of Israel holds rate in divided policy meeting
Central bank willing to cut rates in future to boost below-target inflation
BSP’s Diokno on forward guidance and cutting reserves
The Central Bank of the Philippines governor speaks to Christopher Jeffery and Alice Shen about fintech, efforts to wean Asia off the US dollar, and why he wants to cut policy and reserve requirement rates
Asymmetric inflation targets improve welfare – Chicago Fed paper
Fed can remove deflationary bias by adopting asymmetric target, model suggests
Argentina sharply raises key rate floor to tackle rising inflation
Political uncertainty has boosted inflation since mid-August
Brazil expected to cut rates to new record low
Below-target inflation gives central bank space to boost weak growth, analysts say
Dutch governor attacks ECB’s new stimulus
Klaas Knot says rate cut and QE is “disproportionate to present economic conditions”; Germany's Weidmann also critical
ECB cuts rates to new record low and re-starts QE
Deposit rate decreased to –0.5% and open-ended asset purchases launched at €20 billion a month
30 years of forecasting: have central banks learned anything?
Forecasting models are constantly being upgraded, but forecast errors are still persistent. What more can central banks do?
Inflation targets may have to rise, new study finds
Optimal policy would see targets rise by roughly the same amount as the decline in neutral rates, researchers say
Argentine governor demands political consensus on macroeconomic framework
Sandleris says every election unleashes market volatility and disrupts stabilisation efforts
Argentina reimposes currency controls as peso plummets
Authorities aim to stem depreciation of peso, which has fallen 23.9% against dollar since August 11
Israeli central bank faces hard choices, analysts say
MPC says Israeli currency’s strength is helping to keep inflation below target