Inflation
Bank of Canada holds rates steady
Governing council decides to keep benchmark rate at 1%; says modest tightening of monetary policy may be justified if recovery continues
Governor of Bank of Papua New Guinea discusses mixed economic outlook
Loi Bakani gives overview of economic developments in Papua New Guinea; notes strong economic growth but warns of risks posed by declining exports and rising government debt
National Bank of Serbia annual report reviews policy changes
Annual monetary policy report highlights shift in mid-2011 towards monetary easing in Serbia; says pressure from food prices caused inflation to repeatedly overshoot target in first half of year
NBS paper measures impact of productivity differentials
National Bank of Serbia working paper studies effect of differing productivity growth between sectors and countries; finds impact on inflation and exchange rates
National Bank of Hungary paper surveys wage rigidities
Paper presents findings of large European survey conducted by central banks; finds wages are more rigid than prices, but various factors determine the frequency of adjustment
Slew of central banks hold rates amid economic uncertainty
Riksbank, National Bank of Poland, Reserve Bank of Australia and Central Bank of Colombia all keep policy rates unchanged; central banks offer mixed message on global economy
Vietnam central bank statistics show positive outlook
Statistics published by the State Bank of Vietnam highlight steady economic recovery; nevertheless, central bank says “strong efforts” necessary to hit annual growth targets
Fed paper analyses core inflation measurement
Working paper attempts to produce optimal gauge of core inflation by excluding items with high variance; finds new index outperforms current measures ex-post, but is no better ex-ante
National Bank of Hungary predicts stagflation
Quarterly inflation report projects growth contraction in 2012; says inflation is likely to persist above target due to government tax increases
RBI executive director weighs financial stability objective
Deepak Mohanty considers financial stability as part of a central bank’s mandate; emphasises importance but says price stability should not be subordinated
Czech National Bank paper studies changing inflation dynamics
Working paper examines causes of changing inflation dynamics in central Europe; finds inflation expectations play a 'substantial role' in price stability
Reserve Bank of India's governor defends policy stance
Duvvuri Subbarao responds to critics of the RBI’s tight monetary policy; says central bank’s actions are justified despite supply shocks and slowing growth
Bank of Israel review shows mixed economic outlook
Review of economic developments gives mixed assessment of economic outlook; says growth below potential but inflation on target
BoE minutes show dovish shift
Minutes from Bank of England monetary policy committee’s latest meeting reveal governor Mervyn King voted for an increase to the asset purchase programme in the UK; lost out in narrow vote
UK inflation unexpectedly drops again
Office for National Statistics reveals CPI annual inflation fell this month; leads to renewed QE expectations and predictions of on-target inflation figure by the end of the year
Former Brazilian governor takes additional advisory role
Henrique Meirelles appointed as senior adviser at Kohlberg Kravis Roberts; adds firm to a substantial list of board positions and advisory roles
MAS survey shows optimism about economy
Forecasting survey highlights positive views on economy in Singapore; GDP growth expected to strengthen over coming year
Japanese prime minister nominates new rate-setters
Two new board members put forward by Yoshihiko Noda; nominations need approval by both houses of the Japanese parliament
Central Bank of Colombia paper models transparency incentives
Working paper evaluates central bank incentives to misrepresent private information; finds central banks cannot credibly commit to truth-telling
Albanian governor discusses monetary policy decision
Bank of Albania governor Ardian Fullani describes mixed economic outlook; central bank keeps rates unchanged at 4.25%
IMF paper develops model of world economy
Paper builds structural macroeconomic model of world economy; says such models are “prerequisite” to IMF surveillance
Shirakawa discusses BoJ monetary policy
Governor of Bank of Japan considers central bank’s monetary policy stance and explains the rationale behind recent policy decisions
Brazil’s Tombini seeks appointment of new director
Governor of the Central Bank of Brazil nominates candidate to become director of special affairs; former governor Henrique Meirelles announced as chairman of Lazard Americas
Sarb publishes Monetary Policy Review
South African Reserve Bank Monetary Policy Review notes continuing global uncertainty; central bank decides to maintain repurchase rate of 5.5%