Inflation
Canada's c bank warns of spike in inflation
CANADA - The Bank of Canada said Wednesday economic growth will be lower than expected in the short term but inflation could still double the bank's target by year-end, as Canada continues to be pulled in opposite directions by uncertain global markets…
Banks can park funds in infrastructure projects
ARTICLE - If the brief for a central bank is to guarantee liquidity in a milieu of low inflation and high forex reserves, the RBI can be said to have done more than its bit. On the supply side, RBI has been able to manage a dipping interest regime over…
Hayami pans adoption of inflation target for Japan
JAPAN - Bank of Japan Gov. Masaru Hayami on Thursday rejected the notion of adopting an inflation target as a means of helping to raise prices and fight deflation. "There is no data to support the procedure and the way to achieve it," Hayami told a…
Tito Mboweni urges scrutiny of inflation basket
SOUTH AFRICA - Central bank governor Tito Mboweni has urged academics to analyse the country's inflation targets, as part of a challenge to make research institutions become more relevant to public policy.
Federal Reserve Board Discussion Paper
RESEARCH - 'Monetary Union, Price Level Convergence, and Inflation: How Close is Europe to the United States?' by John H. Rogers, published 21 October. In the article the author examines the decline in European price level dispersion and whether this…
Sveriges Riksbank Inflation Report 3rd Q 2002
REPORT - Sweden's central bank has published its Inflation Report for the third quarter of 2002. Since the time of the June Report inflation has come down somewhat more than was expected. In August the 12-month changes in the CPI and UND1X were 2.0 and 2…
BSP chief presses revision of inflation target
PHILIPPINES - Bangko Sentral ng Pilipinas (BSP) Governor Rafael Buenaventura made a fresh pitch Friday for revising the government's 2003 target for the inflation rate, noting economic planners' projections of the potential impact of a US-Iraq war on the…
BOJ should create inflation to fight deflation
INTERVIEW - The best way to fight deflation is to create inflation, according to Kikuo Iwata, professor at Gakushuin University, who suggests the Bank of Japan set an inflation target of 1 to 3 percent for the next 12 months.
The Exchange Rate and Inflation in the UK
RESEARCH - External MPC Unit Discussion Paper No.11, The Exchange Rate and Inflation in the UK by Amit Kara and Edward Nelson. The paper looks at the evidence from the UK on inflation behaviour and examines the propositions from several theoretical…
Brazil's c bank calls extraordinary Copom meeting
BRAZIL - Brazil's Central Bank called Monday an extraordinary meeting of its interest rate-setting Monetary Policy Committee (Copom), two weeks before presidential elections and amid a currency crisis that is fanning inflation and whipping the economy.
SARB Monetary Policy Review - October 2002
REPORT - The South African Reserve Bank has published its October Monetary Policy Review. The report reflects on increased inflationary pressures in the South African economy following the depreceiation of the rand in the latter half of 2001.
SARB-South Africa's inflation outlook has improved
SOUTH AFRICA - Central bank governor Tito Mboweni sent a strong signal on Tuesday that interest rates may not rise again in November, saying the country's inflation outlook had improved "significantly".
Takenaka asks BoJ to set inflation target
JAPAN - Financial Services Minister Heizo Takenaka has asked the Bank of Japan to set an inflation target in a bid to ease deflation pressure seen as a result of banks' bad loan write-offs.
Speech by Charles Freedman, Bank of Canada, 2 Oct
SPEECH - In the speech titled 'The Role of Inflation Targets in the Canadian Economy' Freedman said that a monetary policy framework based on an explicit target for inflation has helped the Canadian economy to weather shocks, and will continue to do so…
Bank of Canada warns on inflation rate
CANADA - The Bank of Canada said yesterday inflation would remain higher than expected until the middle of 2003 but analysts said it was still too close to call whether the bank will raise interest rates at its next policy announcement on 16 October.
Interest rates will fall says New Zealand's Cullen
NEW ZEALAND - Interest rates should start to come down following the change to the Reserve Bank's inflation target, New Zealand Finance Minister Michael Cullen told the Financial Times in London Thursday.
SARB reject call for changes to inflation target
SOUTH AFRICA - South African Reserve Bank (SARB) Governor Tito Mboweni on Wednesday dismissed calls for changes to the inflation target measure, and stressed the central bank had to remain vigilant against rising inflation.
Reserve Bank's new target divides economists
ARTICLE - As widely expected, the policy targets agreement between the Government and new Reserve Bank Governor, Dr Alan Bollard, has been amended to require him to keep inflation in a 1 to 3 per cent band "on average over the medium term".
Inflation target regime debated in South Africa
SOUTH AFRICA - Economists briefing Parliament's finance committee endorsed the country's inflation targeting regime on Friday, but offered conflicting advice on how to improve it.
Russia's central bank to decide on Russia-Belarus
RUSSIA - The Central Bank of Russia is to shape the inflation and currency rates in the Russia-Belarus Union, said Russian Vice-Premier and Finance Minister Alexei Kudrin at a Tuesday session in Moscow of the Council of Ministers of the Russia-Belarus…
South African inflation hits record high
SOUTH AFRICA - South Africa's targeted CPIX inflation measure vaulted to a record high in August, official data showed on Tuesday, supporting the Reserve Bank's decision last week to raise interest rates for the fourth time this year.
New Zealand raises inflation target
NEW ZEALAND - New Zealand raised its inflation target in the New Policy Targets Agreement announced Tuesday giving new central bank Governor Alan Bollard more leeway to avoid sudden interest rate increases that might choke economic expansion.
New currency to stabilise inflation in Afghanistan
AFGHANISTAN - The head of Da Afghanistan Bank, the central bank in Afghanistan, Anwar al-Haq Ahadi, announced in an interview that with the distribution of the new banknotes in Afghanistan it can be hoped inflation will be reduced.
South Africa raises interest rate
SOUTH AFRICA - The South African Reserve Bank on Thursday made a one percentage point increase in the country's prime interest rates in an effort to force inflation below 6 per cent.