Inflation targeting
New Japanese PM could pressure BoJ to loosen
Japan’s new prime minister and former Bank of Japan critic Naoto Kan hints at more accommodative monetary policy; analysts think central bank’s independence will not be affected
Shirakawa wants financial stability as primary mandate
Governor of the Bank of Japan believes central banks' key task should be to achieve a stable financial environment; says higher inflation targets would do little good at the zero bound
Interview: Howard Davies
The founding chairman of the UK Financial Services Authority discusses Britain’s new regulatory architecture, weaknesses in the European Central Bank’s voting arrangements, and how inflation targets need to change
Inflation targets must account for financial stability: former FSA head
Ex-Bank of England deputy governor Howard Davies proposes more flexible inflation target that takes into account credit conditions
Persistent UK inflation sparks concern over Bank’s forecasting
Mervyn King forced to pen another letter to chancellor as inflation remains way above target
Buba’s Weber interested in price-level targeting
Bundesbank president Axel Weber says move to price-level targeting could help anchor inflation expectations
Lessons from the crisis for monetary policy
As central bankers discuss the future of the monetary policy framework, Robert Pringle puts the debate in a wider context and raises some questions about the emerging new consensus
A return to complexity: economic policy after the crisis
The crisis has challenged the fundamentals of the prevailing macroeconomic orthodoxy. Policymakers must recognise this and adopt new frameworks accordingly, Sir John Gieve argues
RBA: inflation expectations converging globally
Reserve Bank of Australia paper finds inflation targeting policies helped the convergence of inflation forecasts to US levels
IMF: inflation targeting the next step for emerging economies
IMF study makes strong case for adoption of inflation targeting in emerging economies
Riksbank’s Svensson concedes further cuts unlikely
Lars Svensson explains the banks decision to leave its benchmark rate at 0.25% until December 2010, after previous calls to cut the rate further
Central bankers split on raising inflation targets: poll
CentralBanking.com poll shows a slim majority think raising targets to 4% is a bad idea, while nearly 44% approve to some extent
Subbarao moots Tobin tax to curb capital inflows
Reserve Bank of India governor Duvvuri Subbarao says all options on the table as it attempts to act on investment influx
Shirakawa slams inflation-targeting 'fixation'
Bank of Japan governor blames single-minded use of inflation targets for the growth of credit bubbles, says price levels alone do not show health of the economy
British bonds rest on “a bed of nitroglycerine”: Pimco chief
Head of biggest bond fund sees investors penalising gilts as British attachment to quantitative easing stirs worry that government seeks to inflate debt away
Fed’s Kohn attacks higher inflation targets
Federal Reserve vice chairman also dismissive of price-level targeting; admits central bankers were “a little complacent” pre-crisis
BoJ makes small concessions to government
Minutes from Bank of Japan’s February policy meeting show divide between policymakers on strength of economy, analysts say central stance unchanged
The bitter divide on inflation targeting
Economists are split over a recent suggestion that central banks should raise their inflation targets to allow more room for cuts in crises
ECB’s Stark contests IMF paper
Jürgen Stark argues that an inflation target at the 4% level would do more harm than good
ECB: current rates remain appropriate
The latest information from the European Central Bank confirms that the economic recovery in the euro area is on track but is likely to remain uneven
UK public’s price expectations moderately rise
GfK NOP survey on inflation attitudes from the Bank of England shows expectations remain stable
RBA’s Lowe latest to dismiss inflation target hikes
Reserve Bank of Australia assistant governor Philip Lowe says IMF paper’s suggestion of raising inflation targets not sensible, says higher targets would damage supply side
BoE’s Barker on the future of policymaking
Kate Barker draws on her nine years of service at the Bank of England to highlight some of the challenges facing policymakers
Fund economist: Lost Decade shows need for higher inflation targets
IMF economist Daniel Leigh points to evidence from Japan’s Lost Decade that shows hiking targets would have shorn output losses