Inflation
Alternative data fuels central bank research
Important research areas include monetary transmission, exchange rates, digitisation, SMEs and climate change, against the backdrop of Covid
Cash: important for a fairer economy
One interesting economic story over the past year has been the growth in grassroots support for cash payments. Against the backdrop of the Covid‑19 pandemic and now debunked rumours that coins and banknotes could be significant transmission vectors for…
Georgia central bank orders 50bp hike
Central bank raises policy rate to 10.5% as inflation continues rising
Pandemic spurred use of alternative data
Advanced and emerging market economies prioritise different applications
Inflation to end year at 60%, Zimbabwe’s central bank says
Unofficial figures have annual inflation above 100%, but governor says monetary policy will keep prices in check
BIS calls for systemic approach to non-banks
“It is essential to reduce the need for emergency central bank support,” says report
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
Covid-19 causes bigger growth forecast errors
But central banks perform better at forecasting inflation
Eurozone unemployment declines to 7.3%
Youth unemployment rate also falls but is much higher at 15.9%
How Turkey’s president created chaos in economic policy-making
Observers allege presidential domination of the central bank, unauthorised FX transactions and untrustworthy statistics
Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
Has the SNB accepted a stronger franc?
Swiss central bank reduces FX interventions as currency breaks 1.05 ceiling against the euro
Hungary central bank widens rate corridor to create ‘room for manoeuvre’
“Asymmetrical” rate corridor designed to allow central bank to tighten policy quickly
Eurozone inflation hits record high of 4.9%
ECB expected to clarify the future of its stimulus programme on December 16
Kenya’s central bank highlights growth rebound in 2021
Inflation has fallen to 6.5% following government stabilisation efforts to stem fuel prices
Kyrgyzstan raises rates again after lull
Central bank orders 50bp hike amid double-digit inflation
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
German inflation reaches 5.2% in November
ECB’s Schnabel says inflation will peak this month and will decline towards 2% target in 2022
Colombian central bank leaves inflation target unchanged
Rise in inflation is likely to prove transitory, board says, as it sticks to 2% to 4% range
Book notes: Monetary policy in times of crisis, by Massimo Rostagno et al
A mass of intellectual effort gives rare insights into the ECB’s inner working, but fails to fully address questions about who really controls inflation
Sri Lankan central bank holds rates despite rising inflation
Authorities face FX crisis as prices increase at fastest level in four years
Brazilian inflation may be stabilising – official data
Mid-November inflation reading was unchanged from October as rate of food price increases slows
Central bank independence helps build reserves – researcher
Latin American central banks given independence built up strong FX reserves, paper finds
Zambia raises rates for the first time since 2019
Year-on-year inflation falls but remains well above central bank’s target level