Inflation targeting
Volcker lambasts higher inflation targets
Former Fed chairman Paul Volcker calls the suggestion that inflation targets should be raised to about 4% “nonsense”; points to the difficulties of the 1980s
Hildebrand, Weber condemn calls for higher inflation targets
Swiss and German central bank heads label IMF chief economist’s argument “seriously flawed”; deem timing “highly unfortunate”
The simulation of inflation forecasting
IMF research asks how useful is a simple Phillips Curve in simulating inflation forecasting in real time in Germany, the UK, and the US?
High debt heralds new rate policy: UK shadow chancellor
George Osborne says high level of public debt will prompt reappraisal monetary policy
How the Taylor rule changed central banking for good
Kansas Fed paper shows that the rule had widespread influence and changed policymaking even when it was not adopted outright
Uganda’s Kaskende: help us prepare for reform
Bank of Uganda deputy says firms must pave way for change with new reporting standards
SA finance minister flip flops on inflation targeting
South Africa’s Pravin Gordhan says inflation-fighting approach to be “totally different” days after pledging to keep Reserve Bank’s monetary-policy mandate unchanged
Forget inflation targeting
Central banks should let markets set interest rates and let prices fluctuate in the short to medium term, argues Brendan Brown
Bank plays down inflation threat
Above-target inflation likely to soon abate, Bank of England’s governor says in letter to chancellor of the exchequer
RBIs Subbarao pillories inflation targeting
India’s governor says crisis has “diluted if not dissolved” inflation-targeting consensus; says fiscal dominance likely to remain
Inflation targets must be raised: IMF’s Blanchard
IMF economists Olivier Blanchard, Giovanni Dell’Ariccia and Paulo Mauro call for central banks to revise their price growth targets if they want to avoid crippling deflation
Ghana suited to inflation targeting: IMF paper
International Monetary Fund paper says the country does not suffer problems in credibility, which helps in the inflation targeting framework
Inflation targeting the best available option: RBNZ’s Bollard
Reserve Bank of New Zealand governor Alan Bollard says although the method has not always ensured stability, it is better than the alternatives
Real exchange rate matters: SARB’s Mminele
South African Reserve Bank’s Daniel Mminele on the role of exchange rates in monetary policy
SARB split over rate hold
Majority opt to hold rates at 7%, governor discusses inflation-targeting review
Inflation targeting insufficient: China’s Zhou
People’s Bank of China’s Zhou Xiaochuan says targeting low inflation alone is inadequate, particularly in light of the financial crisis
Ex-RBNZ head hits back at inflation-targeting critics
First governor to preside over the introduction of inflation targeting defends framework against recent criticisms
Inflation targeting remains relevant
Inflation targeting can and should survive recent criticisms, argues Don Brash, a former governor of the Reserve Bank of New Zealand – the first central bank to introduce the framework
Korea widens inflation target range
Central bank widens inflation band by 0.5% each way, giving it room to manoeuvre against volatility
Opposition leader slams RBNZ’s inflation-targeting focus
New Zealand’s main opposition leader says his party will withdraw support for the central bank’s inflation targeting framework
SARB’s mandate up for review
Pretoria to mull Reserve Bank’s inflation-targeting framework; central bank holds rates
Price volatility lower in inflation-targeting countries
Reserve Bank of Australia compares inflation volatility in inflation-targeting and non-inflation-targeting countries
Evaluating monetary policy
Risksbank’s Svensson on the difficulties of measuring the right rate for inflation targeting
Morocco to cap reform with price target
Governor tells CentralBanking.com that Bank Al-Maghrib is preparing to adopt inflation target