Deflation
Bank of Korea torn between debt and demand
The central bank in Asia's fourth biggest economy is grappling with how to set policy when the country carries a private debt burden that could increase in size no matter the strategy
Hungary adopts 'tolerance band' around inflation target
Band gives policy-makers greater flexibility and reflects willingness to tolerate temporary deviations from target; central bank cuts rates to resist negative inflation
IMF tells SNB to consider asset purchases
In the face of slowing growth and deepening deflation the Swiss National Bank should ease monetary policy, which could be done via purchases of foreign currency assets, IMF says
BoE minutes highlight risks from sterling strength
MPC members raise concerns over divergence of monetary policy and the resulting strength of the UK’s currency, which has the potential to hold inflation lower for longer
Ingves lays out toolbox at Riksbank’s disposal
Swedish central bank governor says he ‘will do more if necessary’ to fight deflation, arguing ‘there are several ways to make monetary policy more expansionary’
Poll: Should inflation targets be scrapped?
As advanced economies battle low inflation and interest rates remain constrained by the ZLB, should central banks rethink monetary policy orthodoxy?
Eichengreen says central banks should worry more about deflation than 'profits and losses'
The Berkeley professor on what last week's SNB move says about big central banks 'wrong-footing' markets and the Fed's problematic response to financial crisis
Eurozone inflation goes negative with QE looming
Annual HICP inflation falls to -0.2% in December due largely to plummeting oil prices; expectations rising for ECB to expand asset purchases on January 22
Kuroda affirms determination to ‘drastically convert’ Japan’s deflationary mindset
BoJ governor stresses commitment to continue with drastic policy measures until the ‘chronic disease of deflation’ is eradicated, in first speech since quantitative easing was ramped up
Japan's ageing population will have deflationary effects, IMF paper finds
Deflationary effect will hit other advanced economies too, but can be countered through monetary policy and structural reforms, IMF economists write
Buba's Dombret says ECB agrees there are limited risks of deflation
Low inflation in the eurozone should not become deflation, Andreas Dombret says in a speech at the Dallas Fed, as current low inflation reflects unique factors
Riksbank deputy flags danger of leaning against the wind
Karolina Ekholm says use of monetary policy to lean against high indebtedness has created deflation while doing little to solve the debt problems
Lagarde calls for pre-emptive action on eurozone deflation
IMF managing director says the ECB should act to shore up eurozone inflation and find ways of getting credit to SMEs; Draghi says ECB must pursue price stability by all means necessary
OECD joins calls for eurozone QE
Organisation says ECB should consider ‘institutional changes' to allow it to buy corporate and sovereign bonds; suggests a timetable for US taper
'Bold' ECB cuts rates as low inflation settles in
Mario Draghi surprises markets by announcing a cut in the main refi rate in face of falling inflation; opinion differs on whether this is the ECB's last throw of the dice
BoJ’s Iwata draws lessons from ‘Takahashi economic policy’
Current Bank of Japan deputy examines former governor and finance minister’s success in lifting Japan out of deflation in the 1930s; underlines importance of expectations, both past and present
BoJ's Kuroda reports ‘steady progress' on QQE
Year-on-year rate of change in Japan's consumer price index accelerated to 0.7% in July, after having turned positive to 0.4% in June; survey evidence indicates rising inflation expectations
Forward guidance successful in mitigating downside risks to price stability
Provision of time-based forward guidance reduces downside price stability risks but may result in upside risks during the medium term, finds ECB working paper
Georgian and Armenian central banks face different sides of inflation coin
National Bank of Georgia continues easing cycle as deflation returns; Central Bank of Armenia raises rates to combat sharp increase in inflation
BoJ's Miyao sees weaker yen as key to ending deflation
Leading proponent of monetary easing highlights a change in the dollar-yen exchange rate as key to hitting Bank of Japan's 2% inflation target
Shirakawa examines ways for Japan to hit 2% inflation target
Bank of Japan governor says inflation will only be beneficial if it is driven by the right factors; says improved expectations are key to restoring Japan’s growth potential
BoJ board divided ahead of new governor appointment
Minutes detail arguments made by two policy board members who opposed move to 2% target, and why they were overruled; Shinzo Abe hints Bank of Japan could lose independence if target is not hit
Ukrainian deputy director says economy is ‘enjoying’ deflation
Oleksandr Arseniuk says ‘low inflation environment’ – with CPI at -0.2% in January – is benefiting the Ukrainian economy
BoJ board member says 2% target is not sustainable
Takehiro Sato explains his vote against Bank of Japan’s inflation target change, and says central bank will not intervene to depress the value of the yen – but the government might