Inflation
Vietnam proposes lifting gold ban to stem inflation
State Bank of Vietnam head of foreign exchange Nguyen Quang Huy says restrictions on gold imports may be lifted if domestic prices are unsustainable; move could help contain inflation
NY Fed’s Sack on FOMC’s policy shift
New York Federal Reserve executive vice president Brian Sack said further measures represent meaningful shift in balance sheet path
CEPR advocates rule-based approach to central bank projections
Centre for Economic Policy Research study says central bank projections based on interest rate rule yield same results as one on market expectations
New York Fed research finds flaws in inflation expectations polls
New York Federal Reserve research uncovers faults in measuring inflation expectations; says questions on rate of inflation rather than price level provide better guide to future uncertainty
Argentina’s Marcó del Pont nominated for full term
Argentine President nominates central bank governor Mercedes Marcó del Pont for full six-year term, even as inflation soars and currency value drops; deputy, board members also nominated
BoE: higher probability of further stimulus
Bank of England Monetary Policy Committee minutes show members felt more stimulus measures may be required to steer economy towards recovery
Bank’s Bailey places public at heart of stability remit
Bank of England’s Andrew Bailey says public acceptance of stability goal necessary to stave off future crises
RBI narrows rate corridor with repo, reverse repo hikes
Reserve Bank of India lifts repo and reverse repo rates in first-ever mid-period policy review; narrows rate corridor as flagged to cut market volatility
Bundesbank solves German inflation and unemployment anomaly
Bundesbank study finds new, significant trade-off between unemployment and inflation in Germany
Norway’s Gjedrem says return to inflation target will be delayed
Norges Bank governor Svein Gjedrem says weakness in growth will lead to concessions on inflation mandate
Peru raises reserve requirement in bid to stem capital inflows
Central Bank of Peru increases reserve requirement on overseas loans to 75%
National Bank of Hungary tests hybrid inflation targeting rule
National Bank of Hungary study says hybrid regime takes best of price-level and inflation targeting regimes
IMF: policymakers benefit from data standards initiatives
Fund study says IMF data standards initiatives benefit quality of economic forecasts and subsequent policy decisions
Central Bank of Turkey – Inflation Report (Q3 2010)
Central Bank of Turkey says recent figures have shown high inflation towards the end of 2009 to be a blip
Bernanke dismisses higher inflation targets, unconvinced on conditional commitment
Federal Reserve chairman Ben Bernanke rejects higher inflation targets; says conditional rate commitment too risky, despite success in Canada
Peru nearly doubles reserve ratio on foreign deposits
Central Bank of Peru raises reserve requirement on foreign deposits to 120% in bid to stem capital inflows
IMF: central bank independence unrelated to politics
Fund study shows that political factors do not figure in central banks’ independence and effectiveness, but key for budgetary institutions
Rate round-up: Hungary, Israel hold on uncertainty
Continued uncertainty in global and domestic economy prompts Hungary, Israel to leave rates unchanged
NZ’s Bollard: goods tax to have temporary inflationary effect
Reserve Bank of New Zealand governor Alan Bollard says recent tax on goods and services will only have temporary effect on inflation
Minneapolis Fed’s Kocherlakota on the FOMC’s outlook
President of Minneapolis Federal Reserve Narayana Kocherlakota says recovery will only be “moderate”
Iceland slashes on strengthening króna
Central Bank of Iceland cuts rates by one percentage point as it prepares to buy foreign currency following króna gains
RBA minutes: inflation hits new low
Minutes of Reserve Bank of Australia’s August meeting show inflation fell to three year low in July
King writes third letter in a row to government explaining above-target inflation
Bank of England governor Mervyn King pens year's third letter to account for inflation of more than one percentage point above target; stresses health of long-term expectations, but economists unsure
Indian inflation back in single digits on back of Reserve Bank hikes
Official data on wholesale price index show inflation fell to 9.97% last month