Inflation
Japan's Ito repeats call for BOJ inflation target
An academic linked to the race for top spot at Japan's central bank reiterated on Thursday his view that the bank should adopt a controversial policy targeting inflation to reverse Japan's steadily falling prices.
Brazil raises rates to fight 'virus of inflation'
Brazil's central bank on Wednesday raised interest rates for the second time in a month to curb what new President Luiz Inacio Lula da Silva described this week as the "virus of inflation".
Barker on adjusting to low inflation
SPEECH - In the speech 'Adjusting to low inflation - Issues for policy' Kate Barker of the Bank of England said that if the Bank tried to control the build-up of house-hold debt, it might restrain growth in the economy, making people worse off and…
Minutes of Japan's Monetary Policy Meeting
MINUTES - Minutes of the Bank of Japan's Monetary Policy Meeting on 21 and 22 January 2003, released 19 February. One member pointed out that inflation targeting had never been adopted for the purpose of overcoming deflation by any central bank overseas,…
BoC's Knight says monetary conditions expansionist
The Bank of Canada said domestic monetary conditions "remained expansionist" and held to last month's forecast that inflation in the first quarter would range between 4 and 4.5 percent, Senior Deputy Governor Malcolm Knight said in a prepared speech on…
ECB's Papademos-Higher inflation target won't help
European Central Bank Vice President Lucas Papademos has said that raising the central bank's inflation target to 3 or 4 percent will not provide more room for growth in the euro area.
Bank of England Inflation Report, February 2003
REPORT - The Bank of England published its quarterly Inflation Report for February 2003 on Wednesday. In the report the Bank reduced its growth forecast for the UK economy to 2.5 per cent this year from 3 per cent. On the euro-zone economy the report…
Inflation control a priority for Russia's c bank
Containing inflation is a top priority for the Central Bank of Russia in the implementation of its monetary- financing policy, Central Bank First Deputy Chairman Oleg Vyugin said Wednesday.
BofE cuts growth forecast amid 'heavy' uncertainty
The Bank of England's Inflation Report is ten years old, Mervyn King told a well attended press conference on Wednesday. He announced a cut in the Bank's growth forecast for the UK economy, suggested he didn't know what the stability and growth pact was…
IMF Working Paper Series
RESEARCH - The Working Paper 'Inflation Targeting Regimes' classifies countries that define their monetary policy framework by an inflation target into full-fledged inflation targeters, eclectic inflation targeters and inflation targeting lite regimes…
Interview: Mladjan Dinkic
Yugoslavia’s speedy economic recovery from the Milosevic era has been achieved with a programme of radical reforms by a governor prepared to take risks. The governor discusses the implications of the creation of the new state union of Serbia and…
What role for inflation targeting?
ARTICLE - Former executive director of the Reserve Bank of India, A. Vasudevan, asks whether inflation targeting or multiple objective targeting should be of concern only to central banks. He argues that, generally speaking, monetary policy needs to be…
Philippines to revise inflation target downwards
The Philippines has set a 4 to 5 percent average inflation rate target for next year, slightly lower than this year's target of 4.5 to 5.5 percent.
Inflation-target sentiment seen growing inside Fed
ARTICLE - This article weighs up Federal Reserve policy-makers current positions on the issue of inflation targeting. The board appears split with governors putting the case for and against a target and Chairman Alan Greenspan coming down on the side of…
Some inflation target fans at Fed despite ECB
ARTICLE - This article asks whether some Federal Reserve officials are pushing an idea that gets the European Central Bank nothing but grief? The idea in question is inflation targeting.
Kenyan c bank plans shift to inflation targeting
The Central Bank of Kenya (CBK) is considering a gradual shift of its monetary policy-setting regime to target inflation. The inflation targeting move represents a radical shift in its current policy-setting regime.
Kikuo Iwata: BOJ needs inflation target
INTERVIEW - The Bank of Japan should set a mild inflation target to defeat deflation, says Kikuo Iwata, a Gakushuin University professor, who believes that unless deflation is stopped, there can be no business revival nor fiscal reform.
Sveriges Riksbank Economic Review 4rd Quarter 2002
REPORT - The fourth issue of the Riksbank's Economic Review contains three articles: one on the art of targeting inflation, one on the IRB approach in the Basel Committee's proposal for new capital adequacy rules, and one on reformed management of…
Central Bank of Brazil COPOM Minutes
MINUTES - The Banco Central Do Brasil has published the minutes of the 80th meeting of the Monetary Policy Committee (COPOM), 21 and 22 January. The Committee decided unanimously to increase the Selic rate to 25.5% after an anticipated overshoot of the…
Brazil c bank unlikely to change inflation target
Brazil's central bank has said it would only change its inflation target for 2003 if an increase in regulated prices surpassed its forecast of a jump of 14 percent.
MNB alters Hungary's inflation aim
The National Bank of Hungary (MNB) will miss its inflation target for this year because of increasing crude oil prices and domestic wages, MNB President Zsigmond Jarai announced Monday.
Eisuke Sakakibara: Why inflation targets wont work
INTERVIEW - Those who advocate inflation targets have not presented any convincing scenarios of how inflation targeting would cause the prices of goods and services to increase. Setting an inflation target without laying out such a scenario would be…
Mexico keeps its inflation target at 3 per cent
The Bank of Mexico on Wednesday played down the prospects of direct intervention in the foreign exchange markets to support the peso, as it unveiled a monetary policy for this year that maintains its target of 3 per cent inflation for the year.
Bank of England's model comes in for criticism
Research has cast doubt on the accuracy of forecasting models used by the Bank of England. It suggests the models forecast for inflation two years ahead was on average 0.5 percentage points too high.