Inflation
Inflation expectations crucial - SARB
The South African Reserve Bank suggested in its June quarterly bulletin that it expected inflation to hit its target later this year but it would largely depend on the extent to which price expectations conformed to trends, according to a report by…
Sir Edward George's Mansion House speech
In his Mansion House speech Sir Edward George, Governor of the Bank of England said that in terms of the overall macro-economy the Monetary Policy Committee framework has served us well. Annual inflation - on the present RPIX target measure - perhaps…
Serdengecti on an overview of the Turkish economy
In a speech made in London Wednesday 18 June, Sureyya Serdengecti of the Central Bank of Turkey said formal inflation targeting will be adopted when conditions allow. Including a favourable internal environment, sustained fiscal discipline, reduction in…
Japan's support for inflation targeting grows
Minutes of the Bank of Japan's April meeting published on Monday 16 June showed that at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation, according to a report in the Financial…
Interview with Bank of England's Stephen Nickell
UK inflation has peaked and will soon head lower, Bank of England Monetary Policy Committee member Stephen Nickell told Reuters in an interview on Tuesday 17 June. He also played down the importance of the government's plan to switch the Bank's inflation…
Central bank technocrats rule democratic roost
Joseph Stiglitz said in an article in Business Day, Johannesburg, that research shows that if central banks focus on inflation, they do a better job at controlling inflation. However, controlling inflation is not an end in itself: it is merely a means of…
Bank of Israel: Inflation expectations fell in May
The Bank of Israel said on Monday 16 June that Israel's M1 money supply totalled NIS 31.7 billion in May, a 0.9% rise from the preceding month, according to Globes report. It also reported that inflation expectations have fallen for the last three months.
Change in the remit of the Bank of England's MPC
In a letter from Gordon Brown to Eddie George, governor of the Bank of England, the chancellor sets out his intention to change the MPC's remit in the next Pre-Budget Report to give the Bank of England a symmetric inflation target as measured by the…
SARB reduces interest rates by 1.5%
The South African reserve bank cut interest rates on Thursday 12 June for the first time in 21 months to 12 per cent, according to a report by Business africa. Governor Tito Mboweni said the central bank would remain alert to inflation risks though.
NZ's Bollard boosts inflation guidelines
Appearing before a parliamentary select committee Reserve Bank of New Zealand Governor Alan Bollard said the changes made to the bank's inflation targeting guidelines last year may have helped the RBNZ begin its easing of interest rates in April,…
Real strengthens as Brazilian cb intervenes
The Brazilian currency, the real, continues to gain as the central bank sells securities, Bloomberg reports. It has outperfomed all major trading currencies this year and gained 22%.
Argentina c bank on track to target '04 inflation
The president of the central bank of Argentina has said the country should be ready to start inflation targeting in 2004, according to Reuters. Alfonso Prat Gay told a conference it would help Argentina to return to being a normal country.
Upbeat on the UK, downbeat on Europe
Unveiling the Bank of England's May 2003 Inflation Report on Thursday, Mervyn King was upbeat about prospects for UK economic growth and inflation. The Bank predicts that growth will pick up to trend and inflation will fall to remain close to its target…
Interview: Grigori Marchenko
In conversation with Benedict Mander, the chairman of the National Bank of Kazakhstan discusses reserve management policy, the importance of oil, and the difficulties in retaining staff at the central bank.
Bank of England Inflation report accolade
The Bank of England gets top marks for best inflation report, 13 May. All inflation targeting central banks produce Inflation Reports. But what makes a good report? Central banks' writing and reporting skills are assessed in a new report.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this week's Special Feature CentralBankNet presents extracts from an exclusive interview with Professor Manfred Neumann of the University of Bonn. In the interview Professor Neumann spoke to Central Banking journal's Editor Robert…
Bergo on inflation targeting with variable ex rate
In a speech on 'Inflation targeting with a fluctuating exchange rate' Jarle Bergo of Norges Bank said experience has shown that monetary authorities do not have the means to control the exchange rate. Monetary policy has nevertheless, Bergo added, been…
Report questions virtues of inflation targeting
A study published by the National Bureau of Economic Research suggests that adopting an inflation target has no effect on a country's economic performance, according to a report by Dow Jones.
Macfarlane - Do Australians borrow too much?
In a speech on 'Do Australian Households Borrow Too Much?' Ian Macfarlane of the Reserve Bank of Australia said that although household debt/income has increased since the 1980s, the risks have not increased significantly. This is due to the less…
BoE's Bean on asset prices and inflation targets
In a speech on 'Asset Prices, Financial Imbalances and Monetary Policy: Are Inflation Targets Enough?' Charles Bean of the Bank of England said yes, (flexible) inflation targets are enough. But more investigation is needed into understanding the way in…
Issing on monetary and financial stability
In a speech on 'Monetary and financial stability: Is there a trade-off?' Otmar Issing of the European Central Bank said the question whether there is a trade-off between monetary and financial stability has been one of the most interesting areas of…
National Bank of Serbia inflation at 3 yr low
Serbia's central bank has reported that monthly inflation was at a three year low of 0.3 percent and that the annual rate was well within its projection.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In an exclusive interview with CentralBankNet.com, Professor Fatih Ozatay, the vice-governor of the Central Bank of the Republic of Turkey, explains how the war in Iraq is affecting the central bank, and what it is doing to mitigate…
Bernanke - Perspective on inflation targeting
In a speech on 'A Perspective on Inflation Targeting' Ben Bernanke of the Federal Reserve said adoption of an explicit inflation goal was in his view the best way for the Fed to achieve its goals of stable prices and maximum sustainable growth. He added,…