Inflation
BIS paper with New York Fed unveils new measure of underlying inflation
Economists from the Bank for International Settlements and Federal Reserve Bank of New York present a new measure that can be updated on a daily basis
Central Bank of Brazil lowers bank reserve requirements in bid to boost liquidity
Reserves held against deposits cut in half as CBB hopes to inject $20 billion into economy; move ‘seems to be aimed squarely at getting economy going ahead of elections', says analyst
Serbia central bank takes aim at food price volatility to bring inflation in line
Agricultural commodity price volatility accounted for more than two-thirds of headline inflation volatility in 2013, the central bank says, leading it to seek measures to combat it
Cœuré spells out difficulties of global monetary policy co-ordination
European Central Bank’s Benoît Cœuré says he is 'not convinced' the existing approach to co-ordination should be overhauled; rejects feasibility of a 'global planner'
Review finds Belgian CPI still ‘diverges’ from HICP
National Bank of Belgium’s latest economic review analyses the recent changes in the methodology underpinning CPI, and demonstrates why it remains different from HICP
ECB finds Phillips curve 'insufficient’ to forecast inflation
Article in latest ECB monthly bulletin finds evidence of a ‘curve-type relationship’ between inflation and economic slack, but the specification is ‘subject to considerable uncertainty’
Malawi cuts policy rate in line with falling inflation
Less pressure on prices and a more stable exchange rate meant an even bigger cut was on the cards, but the MPC preferred to wait and see what the budget brings
FOMC members offer conflicting takes on US inflation path
Jeffery Lacker says inflation is moving closer to the Fed's 2% target, while Narayana Kocherlakota warns reaching it may take another four years
Colombian monetary policy-makers ignore World Cup effect
Decision to raise interest rates attributed to rising inflation expectations - which were not put down to the country's footballing success
ECB's Cœuré says German lowflation threatens to trigger eurozone ‘race to the bottom'
Executive board member argues bank's June measures were necessary as Germany plays a 'benchmark role for peripheral countries in correcting their imbalances'
Tombini says inability to instil confidence ‘central explanation' for weak recovery
Central Bank of Brazil governor says ‘longer period of normalisation of monetary policy' a possibility; domestic inflation 'under control' and likely to remain ‘well behaved'
ECB argues risk of deflation is 'remote'
Monthly bulletin sets out criteria for what the European Central Bank considers deflation, as opposed to ‘subdued price developments of a less malign nature’
Bank of Ghana admits monetising government debt
Central bank offers relief as investor flight drives sovereign bond yields to spike; ‘printing money to finance the deficit' will cause inflation and currency depreciation, Fitch warns
IMF paper warns low inflation will increase G-7 debt burden
Zero per cent inflation for five years would increase the average debt-to-GDP ratio by five percentage points, but researchers warn against chasing high inflation to erode debt burden
Rogoff and Ball cross swords over 4% inflation target
IMF publishes Laurence Ball paper outlining the benefits of higher inflation; Ken Rogoff says switching to an electronic currency is a more ‘elegant’ solution to the ZLB problem
Solomon Islands ‘still adjusting’ to new central bank legislation
Board aiming to achieve one of the lowest inflation rates in region under new price stability mandate; central bank turns to government for recapitalisation after forex losses
Irish inflation is domestically determined, central bank economists find
Paper by Central Bank of Ireland deputy governor Gerlach and colleagues challenges traditional view that Irish inflation dynamics are determined abroad
Monetary policy stance will 'continue to be tight', says Turkish central bank
Central Bank of the Republic of Turkey, which lowered interest rates last week, says slowdown in consumer loans and weak private demand is expected to keep lid on inflation
Inflation report forecasts tend to be right, research shows
IMF and Czech National Bank economists check inflation outcomes against central bank predictions, finding them to be broadly in line
Bank of Korea predicts sharp inflation increase
South Korea’s central bank expects annual inflation to climb above 2.5% in the fourth quarter, suggesting the MPC will turn its attention to rate increases later this year
Paul Krugman calls for higher inflation targets at ECB Forum
US academic ruffles feathers at conference in Portugal by arguing that higher inflation targets are more desirable now than they were a decade ago; Ottmar Issing disagrees
Turkish rate cut baffles markets as inflation heads for double figures
Turkey's central bank cut rates today despite inflation of almost double the target level; deputy governor tells CentralBanking.com the focus must return to price stability
Bank of Tanzania praised for ‘skilfully’ lowering inflation
The IMF praises Tanzania authorities for generating ‘rapid’ growth while clamping down on inflation and encouraging development of sovereign wealth fund
Draghi points to ECB action next month
European Central Bank holds rates but is ‘comfortable’ with the prospect of easing monetary policy following next month’s economic forecasts