Inflation
ECB paper presents new measure of underlying inflation
“PCCI” measure does not exclude HICP items and gives timely notice of turning points, authors say
Turkish central bank holds rates despite currency’s slide
MPC attempts indirect tightening again as expert claims official figures hide true inflation rate
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
Lawmakers propose reducing Bank Indonesia’s independence
Proposed law change could see finance minister sitting on rate-setting committee
Marshall Islands readies to make waves in digital currency
Island nation ready to issue blockchain-based national currency if its new government gives the go-ahead, chairman of foundation says
Argentina’s central bank attempts monetary balancing act
Central bank tries to increase government access to pesos while raising repo rate
RBI chooses to ‘look through’ above-target inflation
New committee chooses to focus on growth as supply factors push up inflation
New Zambian governor appointed after Kalyalya dismissed
IMF takes unusual step of issuing statement in support of central bank independence
Powell says economy faces risk of downward spiral
Risks from aggressive policy action are much smaller than risks due to inaction, Fed chair says
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
US Treasury imposes sanctions on Syrian central bank chief
Governor Karfoul used extortion tactics to help Assad regime, alleges US Treasury
Argentina allows peso to fall faster
Central bank increases repo rate as currency falls and inflation rises, despite severe GDP contraction
BIS’s Borio: natural rate puts central banks in ‘straitjacket’
Official urges policy-makers to take “broader view” of the costs and benefits of monetary policy
ECB open to above-target inflation – Lagarde
President lays out strategy review goals, hinting approach could bring ECB closer to the Fed
‘Combination’ forecasts can beat standard methods – RBI paper
Traditional inflation-output relationship seems “broken”, authors say
BoE’s Ramsden: UK not yet ready for negative rates
Deputy governor highlights several important considerations in decision to push rates below zero
RBI postpones MPC meeting after failure to appoint new members
Committee falls below quorum at a difficult time for the Indian economy
Bank of Mexico cuts rates again despite above-target inflation
President refuses to increase fiscal support package, citing danger of sovereign debt crisis
Norges Bank holds rates over Covid-19 fears
Norwegian central bank expects rates to remain unchanged over the next two years
Fed’s new framework has had little impact on expectations – NBER paper
Early evidence suggests few people heard the announcement and fewer understood it
Riksbank signals rates likely to stay at zero for several years
Central bank does not forecast negative rates, but doesn’t rule them out
Australia’s central bank considering FX interventions, says Debelle
RBA is evaluating additional monetary policy tools, deputy governor says
Bank of Canada sets out pandemic-adjusted CPI methodology
Pandemic triggered rapid shift in consumers’ spending habits
Iraqi prime minister changes central bank governor
New governor pledges banking reform as finance minister warns country needs economic change