Inflation targeting
Monetary transmission - markets compared
Monetary transmission mechanisms in emerging markets work with a shorter time lag than those in developed countries, according to a new research from the International Monetary Fund.
NZ's Bollard praises inflation targeting
There are no clearly superior alternatives to the flexible inflation targeting approach for maintaining price stability, said Alan Bollard, the governor of the Reserve Bank of New Zealand.
Fed's Mishkin proposes communications changes
Frederic Mishkin, an outgoing governor of the Federal Reserve, believes the central bank needs to make a raft of improvements to its communication policy.
Some preconditions for inflation targeting
The main macroeconomic preconditions for adopting an inflation-targeting regime are high levels of financial development, GDP per person and trade openness, finds a new paper from the Central Bank of Chile.
Interest rates in inflation-targeting countries
A new paper from the Reserve Bank of Australia examines whether long-term nominal interest rates in inflation-targeting economies are determined abroad.
Swedish rates up, more to come
Sweden's central bank has raised rates by a quarter point to 4.5% - a new 12-year high - with the promise of two further hikes this year.
Targeting impacts little on inflation expectations
Inflation targeting by Latin American central banks is failing to have the desired effect on economic agents' inflation expectations, research published by the Central Bank of Chile finds.
Inflation target appropriate: Hungary's Simor
Andras Simor, the governor of the National Bank of Hungary, has defended the central bank's 3% inflation target in the face of political opposition.
Traded range of Russian ruble to be widened
Sergei Ignatyev, the chairman of the Russian central bank, says the central bank will slowly widen the traded range of the ruble as the central bank moves to adopt inflation targeting.
Inflation targeting a dangerous fad, says Stiglitz
Joseph Stiglitz, the Nobel Prize-winning economist and Columbia University professor, has panned inflation targeting as a "fad" that could lead to economic disaster.
SA's Mboweni braves political pressure, hikes rate
Tito Mboweni, the governor of the South African Reserve Bank, reaffirmed his commitment to the central bank's inflation target on Thursday, raising rates by half a point to 11.5% in the face of intense political pressure.
Fed's Mishkin makes his point on inflation
In one of his strongest advocacies of inflation targeting since joining the Federal Reserve in 2006, Frederic Mishkin argued that countries should adopt a specific point objective for price stability rather than having a target range.
Price-level-path targeting would suit Canada
Simple price-level-path targeting performs slightly better than simple inflation targeting when the Canadian economy is confronted by shocks, states a new Bank of Canada research.
Turkish governor defends policy framework
Turkey's central bank should keep its policy framework although inflation targets have been missed two years in a row, said Durmus Yilmaz, the governor.
Mixed results for inflation targeting
A study by the Bank of Canada finds that the ability of inflation-targeting central banks to hit their targets varies considerably. The study, published in the Bank of Canada's Winter Review, looked at 21 countries over the period 1990 to 2007.
Canada's inflation success down to more than luck
The price level in Canada has strayed little from the path implied by the 2% inflation target because expectations and interest rates are determined in a way that is consistent with price-level-path targeting, research published by the international…
The optimal horizon for inflation targeting
The optimal horizon for inflation targeting is highly shock-specific, research published by the Central Bank of Norway finds.
New Zealand holds rates at 8.25%
The Reserve Bank of New Zealand's rate-setting board voted on Thursday to keep the benchmark official cash rate at 8.25% in spite of high inflation.
Central banks with dual role face tough choices
Central banks, such as the Federal Reserve, with the dual mandate of maintaining price stability and economic growth, should not give equal weight to their inflation and unemployment goals, a study by the Kansas City Federal Reserve finds.
CEPR proposes solution for fiscal dilemma
Game theory and inflation targeting could provide the best solution to the problem of fiscal policy impacting monetary policy, a paper published by the Centre for Economic Policy Research (CEPR) finds.
SARB policies here to stay regardless of Zuma
Tito Mboweni, the governor of the South African Reserve Bank, moved to assure markets on Thursday night that inflation targeting would remain whether or not the South African presidency changed hands.
Central Banking in the USA
Michael Woodford talks to Malan Rietveld about how the Federal Reserve makes monetary policy
Paper on inflation targeting
This research paper shows how the inflation-targeting regimes of Australia, Canada and New Zealand, has developed over time.
Is a price or inflation target best for stability?
A paper looking at the costs and benefits of price-level and inflation targeting as tools for stabilisation policy has been published by the Bank of Canada.