Inflation targeting
South African politicians tussle over central bank mandate
African National Congress officials attempt to influence new government
Potential Fed nominee wants changes to interest rate policy
IOER hurts private sector entrepreneurialism and gives banks wrong incentive, Judy Shelton says
Fiscal policy needed to tackle next crisis – Riksbank research
Low interest rates limits monetary policy influence, but opens the door to sustainable fiscal stimulus
Zambia raises rates for first time since 2015
Governor hopes to prevent inflation rising above 6–8% target
Senior Fed officials call for overshooting inflation target
Kashkari says Fed acted too early in tightening while Brainard says policy must meet ‘new normal’
Reserve Bank of Malawi cuts rates to 13.5%
Central bank lowers inflation forecast while raising GDP growth forecast
Williams favours average inflation targeting in new research
New York Fed president analyses three groups of inflation-targeting regimes
Mester not yet convinced on alternative monetary policy frameworks
Enhancing Fed communication is an “essential component”, Cleveland Fed chief says
RBNZ faces communication challenges in new policy framework
Some observers think new monetary policy committee may add confusion, but Orr appears to be focusing on broader topics
Fed should target inflation range – Boston president
Policy is similar to price level and inflation averaging targets, but is easier to explain, Rosengren says
Kazakhstan cuts interest rates under pressure from president
Cut to 9% comes just days after president ordered change
Consensus over Fed inflation target shifted during Great Recession – San Fran Fed
Up until the 2008 crisis, most FOMC participants preferred a 1.5% target, researchers find
Brazilian president unveils draft law to increase central bank independence
Draft law would give governor fixed term but nine similar measures have failed since 1991
Argentina toughens monetary targeting on higher inflation
Government to send bill to parliament to prohibit central bank from financing the Treasury
South Africa to press ahead with Sarb nationalisation
Governor Kganyago warned in July 2018 nationalisation would be a long and expensive process
South African governor questions ruling party’s pledge to broaden mandate
ANC’s election manifesto called for monetary policy to target employment creation and growth
Bernanke argues for ‘time-limited price targeting’ policy framework
Committing to make up inflation shortfalls in past year would avoid overshooting, paper finds
Bank of Israel confirms looser stance
After first rate hike since 2011 in November, the central bank reaffirms accommodative approach
Monetary policy frameworks need modifying, former Fed governor says
Lower r* requires two key modifications to flexible inflation-targeting regimes, Frederic Mishkin says
Bank of Jamaica increases efforts to stimulate inflation
Central bank cuts policy rates and reserve requirements to spur credit growth
RBNZ adopts new dual policy target
New Zealand’s central bank will now have maximum employment target alongside inflation goal
Jamaica’s Wynter says forex volatility is nothing to worry about
Central bank uses social media to calm markets after forex intervention
Inflation set to decline in Argentina this year – central bank survey
Market analysts expect year-on-year inflation to fall to 28.5% from 47.6% in December 2018
Economics in central banking: Greg Kaplan, Benjamin Moll and Gianluca Violante
Authors’ paper, ‘Monetary policy according to Hank’, boosts the realism of core economic models, delivering important insights into inequality and the transmission of monetary policy