Inflation
Is King readying his pen reluctantly or eagerly?
The UK press has jumped on the admission by Mervyn King that he might soon have to write a letter to the chancellor if inflation climbs above the 3% limit, but such a letter would not be the admission of failure that many imply.
Mishkin sees benefits in inflation target range
According to this article by Reuters, published Wednesday 2 August, a new study by incoming Federal Reserve governor Frederic Mishkin says inflation target ranges can help central banks sidestep political pressure to let prices rise and achieve low…
Belgium's Quaden says all things possible
Belgian National Bank governor Guy Quaden said in a radio interview it is possible for the European Central Bank to control inflation at the same time as promoting growth.
Australia bank chief faces a tough debut
According to this article by Reuters, published Tuesday 1 August, new RBA governor Glenn Stevens is likely to upset politicians and Australia's heavily indebted homeowners, with his chief concern the control of inflation.
IMF paper on inflation forecasting
The IMF Working Paper "The role of seasonality and monetary policy in inflation forecasting" suggests a new econometric approach for jointly determining inflation forecasts and monetary policy stances, particularly where seasonal fluctuations of economic…
Turkey's year-end inflation may double target
Year-end inflation in Turkey is likely to climb to 10.5 pct, double the official target of 5.0 pct, central bank governor Durmus Yilmaz said Friday 28 July.
What Ben Bernanke could learn from New Zealand
According to this article from Bloomberg, published Friday 28 July, while Fed chairman Ben Bernanke and the world's biggest policy makers don't often pay attention to New Zealand, they would be wise to follow Alan Bollard's progress.
Minutes suggest smaller rate cuts in Brazil
Brazil's central bank said Thursday 27 July it sees a "low probability" of inflationary pressures in the coming quarters, but interest rate cuts may need to be smaller to avoid a pickup in inflation.
Comment: Small steps or big bang?
A recent collection of papers published by the Bank for International Settlement (BIS) adopts a cautious line in advocating inflation targeting for poor African countries, which may lack the "preconditions" for the regime.
Bernanke's testimony to Congress
In testimony given on 19 July Ben Bernanke of the Federal Reserve warned that stubbornly high inflation could harm the U.S. economy and that the U.S. central bank must guard against rising prices taking hold.
Comment: Bernanke focuses on risks
In his remarks following the delivery of the Fed's semi-annual monetary policy to Congress, Fed chairman, Ben Bernanke, adopted an approach very much in keeping with his predecessor, Alan Greenspan. What does this mean for the Fed's inflation targeting…
Inflation targeting in dollarized economies
According to this Working Paper from the Central Bank of Chile, the shift to an inflation targeting regime has contributed to the relatively low inflation observed in some emerging market economies.
Stern says Fed will remain diligent
The Federal Reserve is committed to its responsibility of avoiding a damaging rise in inflation, Minneapolis Fed president Gary Stern said on Thursday 13 July.
BoK says inflation outweighs slowdown risk
Bank of Korea assistant governor Yeung-Kyun Rhee said Thursday 13 July that the current focus should be on inflation rather than growth in the South Korean economy.
IMF paper on U.S. inflation dynamics
The IMF Working Paper "U.S. inflation dynamics: What drives them over different frequencies?" aims to improve the understanding of U.S. inflation dynamics by separating out structural from cyclical effects using frequency domain techniques.
BOK maintains hawkish stance
Bank of Korea governor Lee Seong-tae said on Monday 10 July that the central bank will take preemptive action to curb increased pressure on inflation.
Inflation targeting in dollarized economies
According to this IMF Working Paper, the shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies.
Comment: Bernanke's ally
The nomination of Frederic Mishkin to fill one of the two vacant seats on the Fed's board of governors will bolster the chairman, Ben Bernanke, in his attempts to quantify the central bank's inflation objective and move towards a more rule-based monetary…
Fed views on U.S. inflation targeting
This article from Reuters, published Wednesday 28 June, provides summaries of views voiced by Federal Reserve policy-makers on the merits of stated numerical inflation targets.
Srejber on monetary policy & inflation-targeting
In the speech 'Should monetary policy subdue inflated high debts and asset prices in an inflation-targeting regime?' given on 28 June Eva Srejber of the Sveriges Riksbank said the Swedish central bank is not hamstrung by its practise of inflation…
Toothless Fed
According to this article from CNN Money, published Thursday 22 June, the Federal Reserve's ability to control the host of things that are driving inflation higher is rather limited.
Comment: Uganda eyes inflation target
The Bank of Uganda will implement an inflation-targetting framework in the near future, the governor of the central bank, Emmanuel Tumusiime-Mutebile, told CentralBankNews.com. Only a lack of adequate and timely data is holding it back.
BOJ's Nishimura sees low rates problem
Keeping Japan's interest rates at low levels for a prolonged period may cause excessive investment by companies and overstimulate economic growth, according to Kiyohiko Nishimura, a Bank of Japan policy maker.
Liikanen says euro area inflation risks on upside
Inflation risks in the eurozone are on the upside, European Central Bank Governing Council member Erkki Liikanen was quoted as saying by Finnish daily Demari in an interview published on Thursday 22 June.