Inflation
Bank of Thailand lowers growth and inflation forecasts
Central bank says Thailand’s rising debt burden and falling consumer confidence are holding back domestic demand, which in turn is slowing the pace of growth and inflation
PMA attributes inflation disparity to Egyptian smuggling
The Palestine Monetary Authority blames the divergence between inflation in the West Bank and the Gaza Strip partly on the cheap goods being smuggled into Gaza from Egypt
Bank of Canada holds rates despite drop in growth and inflation forecasts
Governing council holds key policy rate at 1% despite suggesting inflation will take two years to return to target; says economy is rebalancing but the process will ‘take longer than previously projected’
Bank of Russia slashes forex intervention target
Halved intervention target brings rouble closer to free-float; IMF tells central bank to maintain reform momentum and resist calls to loosen policy
G-20 inflation measure paves way for co-ordinating policy
New statistic aims to fill ‘data gap' identified in wake of the global financial crisis; follows growing calls for globally coordinated monetary policy as countries fret over effects of QE
Riksbank hits back over ‘systematically inaccurate' inflation forecasts
Swedish central bank rebuffs claims from the National Institute of Economic Research, that it has overestimated inflation for more than a decade with implications for interest rates and growth
Commodity price shocks may unhinge eurozone inflation, ECB article says
Higher and more volatile commodity prices risk rendering conventional forecasts based on futures prices obsolete, with knock-on effects for inflation
Riksbank paper evaluates inflation conservatism
Researchers consider how the timing of fiscal and monetary policy decision impacts the desirability of strict inflation targeting
Central Bank of Brazil raises rates for fifth time in row
Unanimous vote hikes Selic rate to 9.5% – 2.25 percentage points higher than in April - in effort to combat inflation; Reserve Bank of India, meanwhile, provides financial system with more liquidity
Japan’s ministry of finance issues inflation-indexed JGBs after five-year absence
First linker issuance in Japan since 2009 is 3.7 times oversubscribed but success of future auctions will depend on the Bank of Japan’s ability to deliver 2% inflation
Kocherlakota urges Fed to do ‘whatever it takes’ to boost labour market
Persistently low inflation means the Federal Reserve can throw all its resources behind the fledgling labour market recovery, according to the Minneapolis Fed president
Bank of Russia raises inflation target for next year to 5%
Hike is prompted by anticipated increase in regulated prices; central bank argues prior target of 4.5% would force tightening of monetary policy and risk stifling growth
RBNZ bulletin tackles inflation, macro-prudential policy and reserve bank capital
Latest issue of Reserve Bank of New Zealand's bulletin examines why inflation has remained low despite healthy economic growth
Eurozone inflation and output do move in step, says IMF working paper
Researchers argue co-movement of inflation and output is observable in the eurozone at ‘business cycle frequencies', confirming New Keynesian models to demand shocks
New York Fed paper wary of higher inflation targets
Staff report finds that pursuing a higher trend rate of inflation would likely create a ‘more volatile and unstable’ economy and unseat inflation expectations
Corporate performance data central to understanding inflation dynamics
RBI's Deepak Mohanty says balance-sheet data enhances financial stability by shining light on corporate leverage ratios and unhedged foreign currency loans
Forward guidance successful in mitigating downside risks to price stability
Provision of time-based forward guidance reduces downside price stability risks but may result in upside risks during the medium term, finds ECB working paper
Iran central bank appoints new governor
New Iranian president names commercial bank veteran to take over at the top of the central bank; priority will be taming inflation now running at around 40% a year
Czech paper dissects central bank inflation reports
Researchers find the inflation reports produced by a sample of eight central banks are ‘generally of good quality’ but warn their analytical power cannot be taken for granted
Riksbank deputy: Slowing Swedish growth to be buoyed by eurozone recovery
Kerstin af Jochnick says Riksbank will conduct flexible monetary policy accounting for growth in household debt until macro-prudential policy has been established
Break-even value of PMI is not 50 but 44, RBI working paper suggests
Wholesale Price Index inflation turns positive when PMI exceed 44, according to research; paper also finds that PMI predict the movements of final WPI
NY Fed research constructs composite model for core inflation
Paper finds that price changes in core goods and services are driven by different forces; capturing this distinction enables researches to map core inflation more accurately
Belarusian chair Ermakova reveals how she tackled runaway inflation
National Bank of the Republic of Belarus chair Nadezhda Ermakova tells CentralBanking.com about the central bank’s efforts to deal with the 2011 currency and ensuing inflation crisis
Bullard warns weak inflation may put brakes on QE tapering
Inflation may be pushed even lower by a decision to taper, raising risks of deflation, the St Louis Fed president notes; calls for press conference after each FOMC meeting