Inflation
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
India’s Gokarn terms inflation a “legitimate concern”
Reserve Bank of India deputy governor Subir Gokarn says supply side price pressures cannot be controlled through standard monetary policy measures
Interview: Donald Kohn
Blair Baker talked to Donald Kohn on 9 July about his career at the Federal Reserve, monetary policy, the crisis and the future of financial regulation.
RBI: slow growth could help anchor inflation
Reserve Bank of India’s August Bulletin says slower growth could help address inflationary pressures
IMF: inflationary risks minimal during recessions
Fund study shows advanced countries are at low risk of inflationary pressure when economy is running under capacity
Bank of Israel – Inflation Report (April-June 2010)
Israeli inflation set to remain in line with central bank’s target
Bank leaps to defence of off-target inflation forecasts
Bank of England lifts inflation predictions on volatility from short-term shocks, mounting spirited defence of erroneous predictions to date; slightly lowers growth expectations
RBI moots new bank licences to increase competition
Reserve Bank of India says it may issue new bank licences; higher capital requirements are expected
FOMC pledges to maintain scale of asset purchases
Federal Reserve fails to announce additional quantitative easing but pledges to keep size of purchases at current levels; calls for more easing spurred by weak jobs data
Commentators sharpen knives ahead of Bank’s forecasts
Leading media outlets criticise Bank of England’s forecasting methods ahead of Wednesday Inflation Report; former Bank economists say new model welcome but will not remedy rate-setters unfounded optimism, which underpins off-target predictions
Greece passes first hurdle of bailout programme
European-IMF review of Greek economic programme says country is on track to receive second tranche of funds
RBI drastically cuts deputy governor Chakrabarty’s role
Reserve Bank of India removes five of deputy governor Kamalesh Chakrabarty’s nine portfolios; move linked to Chakrabarty’s out-of-turn comments on monetary policy
Philippines’ Tetangco launches book on CB law
Central Bank of the Philippines governor Amando Tetangco praises in-house legal team
Bank Indonesia plans rupiah redenomination: reports
Bank Indonesia acting governor Darmin Nasution says redenomination of the currency should be inflation neutral
Malawi cuts for first time in three years
Reserve Bank of Malawi implements two percentage point cut to key rate as inflation moderates; food price inflation wanes as shortages begin to abate
RBI attempts to soothe market jitters with more rate reviews
Reserve Bank of India will release four extra monetary policy reviews per year in a bid to keep investors calm; decision brings it in line with bulk of major central banks
King stresses wait-and-see approach to rate-setting
Bank of England governor Mervyn King dismisses suggestions that one or another view dominates rate-setting committee; deputy Charles Bean reiterates question marks over effects of quantitative easing
Central Bank of Sri Lanka – Annual Report (2009)
Sri Lankan central bank’s Annual Report for last year says country’s escape from high inflation allowed it to focus efforts on growth
India jerks in policy reins to choke off ballooning inflation
Reserve Bank of India levies bigger-than-forecast 50 basis point rate hike as data show inflation has spilled over from food to all areas; higher fuel prices, weather patterns key going forward
ECB: Crisis amplified monetary policy channels
European Central Bank study on credit channels finds the financial crisis amplified the impact of monetary policy on the economy
Albania’s Fullani sees green shoots in lending
Bank of Albania governor Ardian Fullani says banks still need to be more proactive
BIS: Inflation targeting only one option
Bank for International Settlements study says inflation targeting is not necessarily the only prescription for price stability
Tax increase creates dilemma for BoE policymakers
Bank of England hints at further stimulus despite signs inflation will remain high on the back of value added tax hikes
RBA rate hold linked to European stability concerns
Minutes of Reserve Bank of Australia’s rate meeting show developments in Europe led board to keep rates flat