Inflation
The transition to inflation targeting in Romania
In the near future, Romania will introduce inflation targeting and fully liberalize its capital account. This recently published IMF Working Paper analyses how these two profound changes will affect the ability of monetary policy to pursue its objective…
BOK pledges to maintain price stability
The Bank of Korea said on Wednesday 5 January that it will focus on making sure the country does not exceed its inflation target this year, while promoting coodination between monetary, fiscal, foreign exchange and regulatory policies.
Richmond Fed's Lacker gives economic outlook
Next year will likely see "a continuation of growth along a quite similar trajectory," said Jeffrey Lacker, president of the Richmond Fed, in a speech on Monday 20 December. Economic recovery from the recession of 2001 finally put down "firm roots" in…
BoE Inflation attitudes survey
The Bank of England's latest inflation attitudes survey reveals expectatsions hovering about 2.4% (compared to 2.3% in the August survey).
Turkey to join inflation targeters in 2006
Turkey's central bank will start "formal" inflation targetting in 2006, according to its Monetary and Exchange Rate Policy document for 2005.
Sweden's Bergstrom on causes of unemployment
Sveriges Riksbank Deputy Governor Villy Bergstrom spoke at a seminar on economics in Stockholm on Wednesday 15 December. He said there is no long-term stable connection between inflation and unemployment. Instead, structural measures are required to…
Sveriges Riksbank Inflation Report, No. 4, 2004
Sweden's central bank, the Sveriges Riksbank, has published its Fourth Inflation Report for 2004. The assessment in the October Inflation Report still stands, although new statistics received since October indicate a slightly weaker development than…
World Bank says Chinese economy not over-heating
Chief of the economics unit of the World Bank's Beijing office, Bert Hofman denied that the Chinese economy is overheating, saying that he expects 9.2 per cent to 9.3 per cent growth for China, "which is by and large a good thing."
Trichet praises ECB's record on inflation
In a letter to the European Parliament, European Central Bank president Jean-Claude Trichet said that the ECB has a very successful record of keeping euro zone inflation under control despite adverse shocks such as the recent hike in oil prices.
NBU expected to introduce inflation targeting 2006
The National Bank of Ukraine is expecting to introduce inflation targeting in 2006, according to NBU Acting Governor Arseniy Yatseniuk, speaking to journalists.
Papers from the RBA's 2004 Conference
The Reserve Bank of Australia published papers from its 2004 Conference "The future of inflation targeting" on 15 November. The papers include "Can central bank transparency go too far?", "Inflation measurement for central bankers" and "Inflation…
Bank of England Inflation Report, November 2004
The Bank of England published its November 2004 Inflation Report on 10 November. In the report the Bank cut its forecast for UK economic growth in 2005 to about 2.5 per cent from 3.1 per cent and said that inflation may accelerate less than expected.
ECB's Issing concerned on eurozone inflation
European Central Bank (ECB) chief economist Otmar Issing said in an interview that eurozone inflation is higher than the bank would like it to be, and it is watching inflation developments with concern.
Denmark's Thomsen at the 3rd ECB Conference
In a speech to the 3rd ECB Central Banking Conference given on 22 October Jens Thomsen of the Danmarks Nationalbank said theoretically, inflation targeting in ERM II presents an additional complication in that the impact of the national interest rate…
Buba's Weber on European inflation dynamics
In a speech on 'European inflation dynamics and inflation convergence' given on 15 October, Axel Weber of the Bundesbank said we still do not know enough about the factors that determine inflation persistence in the euro area and we cannot even be sure…
BoE's Lambert sees `low and stable' inflation
UK inflation probably will remain ``low and stable'' amid slowing economic expansion and subdued wage growth, Bank of England policy maker Richard Lambert said, indicating he sees little immediate need for higher interest rates.
Interview with former RBA board member Bob Gregory
In an interview published on Thursday 21 October, former board member of the Reserve Bank of Australia Bob Gregory said that if there is faster growth at the same inflation rate the RBA will not tighten.
Fed debates policy for post-Greenspan era
This article reports that battle lines are drawn at the Federal Reserve between those who favour formal inflation goals and those who don't, with the debate heating up ahead of Alan Greenspan's retirement. It cites Roger Ferguson and Ben Bernanke at the…
US economy back on track says Fed's McTeer
Dallas Federal Reserve Bank President Robert McTeer said on Tuesday 5 October that the inflation scare is over with and the US economy is back on track from its soft patch.
Hungary's cb chief expects inflation around 7%
Average inflation in 2004 will be "around 7%," but will decline to 4-5% in 2005, Zsigmond Jarai, the president of central bank MNB told parliament's budget committee on Tuesday 21 September.
ECB's Issing sees inflation falling below 2%
The European Central Bank is unhappy with the current level of inflation in the eurozone but expects it to fall below 2% in the second quarter of next year, chief economist Otmar Issing said on Monday 20 September.
RBI may revise inflation target
The Reserve Bank of India, which is closely monitoring inflation, now at 8.33 per cent, may revise its annual target of 5-5.5 per cent in the busy season credit policy next month, according to RBI deputy governor Rakesh Mohan.
Fed's Guynn says price pressures won't be ignored
U.S. inflation has "stayed in a relatively narrow band" but the Fed will not take its eye off the ball, President of the Federal Reserve Bank of Atlanta Jack Guynn said in an interview with Bloomberg News published on Thursday 9 September.
ECB study finds inflation targets do work
A recently published working paper by the European Central Bank investigates the impact of inflation targeting, and concludes that explicit inflation targets do have a significant effect on inflation expectations and persistence.