Inflation targeting
The beginning of the end for inflation targeting
This article by Wolfgang Munchau published Monday 5 June in the Financial Times says that while an inflation targeting strategy has worked well for some central banks - notably the Bank of England - it did not work out as well for others.
Reflections on operating inflation targeting
In a paper delivered on Thursday 25 May at the Graduate School of Business of the University of Chicago, Paul Tucker of the Bank of England sets out some reflections on the operation of an inflation targeting regime after four years on the MPC.
Rybinski on inflation targeting, challenges ahead
In the speech 'Inflation targeting and the challenges ahead' given on 18 May Krzysztof Rybinski of the National Bank of Poland said that since 1990, when the pioneering Reserve Bank of New Zealand first introduced inflation targeting, over twenty…
Inflation targeting and inflation expectations
The San Francisco Fed Working Paper "Does inflation targeting anchor long-run inflation expectations? Evidence from long-term bond yields in the U.S., U.K., and Sweden" published March 2006 investigates the extent to which inflation targeting helps…
Inflation targeting arrangements in Asia
The SCAPE Working Paper "Inflation targeting arrangements in Asia: Exploring the role of the exchange rate" presents an analysis of some of the issues relevant to Asian central banks implementing an inflation targeting arrangement with specific focus on…
St Louis Fed's Poole on inflation targeting
In the speech 'Inflation targeting' given on 16 February William Poole of the Federal Reserve Bank of St. Louis said an explicit inflation target would help the Federal Reserve do a better job of anchoring expectations and ensuring low and stable prices.
BoJ - inflation to accelerate in Q1
The Bank of Japan's (BoJ) nine-member board ended Thursday's monetary policy meeting by keeping policy unchanged. BoJ governor, Toshihiko Fukui, said he expected inflation to accelerate in first quarter of 2006.
Research on inflation targetting
In this theoretical paper Felipe F. Schwartzman of Princeton University looks at how inflation-targeting central banks using target bands, as opposed to point targets, can go about addressing both inflation and stability biases.
BOJ minutes show reluctance for price target
According to minutes from the Bank of Japan board's December meeting released on Wednesday 25 January, some members of the BOJ's policy board felt it would be hard to set a desirable rate of inflation.
Yellen says Fed shouldn't target bubbles
It should not be the Federal Reserve's role to directly target its policies at bursting possible asset bubbles, San Francisco Fed president Janet Yellen said on Thursday 19 January.
Comment: Fed debate continues
Janet Yellen, president of the San Francisco Fed, on Thursday 20 January came out in strong support of incoming chairman Ben Bernanke's suggestion that the Fed should adopt fully-fledged inflation targetting.
Inflation targeting: the New Zealand experience
The Reserve Bank of New Zealand released a paper 'Inflation Targeting: the New Zealand Experience and Some Lessons' on Wednesday 18 January , by Dr Alan Bollard and Ozer Karagedikli, which was presented to a conference hosted by the Central Bank of the…
Turkey to begin inflation targeting
Turkey plans to adopt formal inflation targeting in 2006, according to central bank governor Sureyya Serdengecti.
Comment: Turkey to target
Governor Sureyya Serdengecti's announcement on Monday 5 December that the Central Bank of Turkey will adopt formal inflation targets from January 2006 marks another step along the road of monetary policy reform that has seen Turkey shrug off its volatile…
All eyes on the rand
Inflation is on target, but the exchange rate still dominates economic debate, writes Malan Rietveld.
Beware fads and fashions
The latest fashion in accounting standards will not deliver good central banking says John Nugée.
IMF's Rato on building better institutions
In the speech 'Building better institutions' given on 3 November Rodrigo de Rato of the IMF said central banks in emerging markets that used inflation targeting not only reduced inflation but experienced less volatility.
Canada's Macklem on the inflation target
In the speech 'The inflation target: More than just a target' given on 6 October Tiff Macklem of the Bank of Canada discusses the Bank of Canada's inflation-targeting system, which aims to keep inflation low, stable, and predictable in order to promote…
Experiences of inflation targeting
A new IMF paper examines the experiences of inflation targeting countries and presents a number of "stylised facts" and conclusions for policy makers.
Norway's Gjedrem on inflation targeting
In the speech 'Experiences with inflation targeting in Norway and other countries' given on 7 June, Svein Gjedrem of Norges Bank said in light of the experiences of different countries in the last 10-15 years, he is confident that flexible inflation…
Riksbank's workshop on inflation targeting
The Sveriges Riksbank held a workshop titled "Inflation targeting: implementation, communication and effectiveness" between 10-12 June. Papers presented at the workshop included "Central-bank communication and the publication of interest rate projections…
Sweden's Heikensten on inflation targeting
In opening remarks to the Conference on inflation targeting: implementation, communication and effectiveness given on 11 June, Lars Heikensten of the Sveriges Riksbank said the contributions to this conference have succeeded in capturing the most…
RBA paper warns on inflation targets
A research paper published by the Reserve Bank of Australia on Thursday 2 June has warned that central banks should not set their inflation targets too low.