Inflation targeting
Brian Wynter on Jamaica’s inflation-targeting transition
Jamaican governor says the end of fiscal dominance plus the creation of a two-way forex market and an effective interest rate policy mechanism essential for “full-fledged” inflation target
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy
‘Bernanke targeting’ may outperform Taylor rule – Fed paper
Paper tests Ben Bernanke’s proposal for temporary price level targets
Turkish inflation forecasts leap after overshoot
Governor says inflation will converge to target in long run, despite being far above forecast bands
NZ parliament formally launches central bank review bill
The bill is now at the select committee stage, which usually takes around six months
BoJ unveils more flexible monetary policy framework
No rate change until at least 2019, the BoJ says in new forward guidance
SNB chairman dismisses calls for revised inflation targets
Jordan says raising targets would 'harm credibility' built up over decades; sees room for more negative rates
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
The Swiss National Bank governor speaks about currency intervention, negative rates, sovereign money and the diversification of reserves
BoJ may tweak policy at next meeting – local media
Speculation comes as Japanese central bank intervenes in bond market for first time since February
Ukraine’s central bank goes back to 5% inflation target
National Bank of Ukraine raises rates, despite falling core and headline inflation
BoJ looks set to cut its inflation forecast – again
There is no exit in sight for the Bank of Japan as inflation is likely to disappoint yet again, warns Sayuri Shirai
IMF aims at major reforms of Malawi’s central bank
Aid aims to help central bank move to interest-rate-based framework and inflation targeting
New Jamaican law could end Caribbean’s ‘colonial era’
Granting the Bank of Jamaica operational independence to pursue an inflation target could transform central banking in the Caribbean
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target
RBA minutes drop hawkish language
Minutes of June meeting appear to contrast with recent remarks by governor Philip Lowe
BoJ cuts inflation estimate as it holds rates
Goshi Kataoka is sole MPC member to call for looser policy
Sarb should adopt mid-point in inflation target band – IMF
Inflation expectations could be lowered with the explicit adoption of a mid-point at an “opportune time”, fund says
Time for Central Bank of Argentina independence
Monetary financing has fallen sharply under Mauricio Macri’s administration, but must now end; independence law would help efforts to shatter Argentina’s inflationary shackles
Federico Sturzenegger on Argentina’s efforts to create a credible central bank
The Central Bank of Argentina governor, in his last interview before leaving office, speaks about panic in emerging markets, the IMF bailout, and bringing to an end high inflation and monetary financing
FOMC members rarely change their preferences – paper
Researchers find policymakers tend to form their preferences early on in life
Strike halts Australian banknote production
Unions reject 2% offer and point to governor’s call for higher wage increases
Mester backs review of Fed’s inflation targeting framework
Cleveland Fed president says 2% target may not be suitable for low interest rate environment
IMF recommends improved central bank communication in Latin America
Clearer policies and increased transparency could help to deal with future shocks