Inflation targeting
Norges Bank hikes for first time since 2011
Rate path slightly lower than before due to weak wage growth and high private debt
BoJ sticks to upbeat message despite dissent
Policy remains on hold as inflation continues to disappoint; Kataoka questions positive message
Boston Fed economists call for monetary policy evaluations
Effective lower bound and reduced ability to stabilise the economy warrant a rethink of the monetary policy framework, economists say
ECB should enhance forward guidance during normalisation – Cœuré
Executive board member thinks changing economic phase and QE unwinding require more communication
Yellen says Fed should begin forward guidance now
Action now could have equivalent impact to negative rates, says former Fed chair
New Zealand to open next phase of RBNZ act review
Labour government to review case for separating prudential supervision from the central bank
Long-termism is necessary for a stable future – RBNZ’s Orr
Contemporary societies face challenges demanding focus on sustainable development, says governor
Inattention helps explain flat Phillips curve – Fed paper
Inflation may be less sensitive to shocks because people are not paying attention, authors say
Powell warns not all US problems can be solved by Fed
Fed chair implicitly defends monetary policy in face of Trump’s attacks
Brian Wynter on Jamaica’s inflation-targeting transition
Jamaican governor says the end of fiscal dominance plus the creation of a two-way forex market and an effective interest rate policy mechanism essential for “full-fledged” inflation target
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy
‘Bernanke targeting’ may outperform Taylor rule – Fed paper
Paper tests Ben Bernanke’s proposal for temporary price level targets
Turkish inflation forecasts leap after overshoot
Governor says inflation will converge to target in long run, despite being far above forecast bands
NZ parliament formally launches central bank review bill
The bill is now at the select committee stage, which usually takes around six months
BoJ unveils more flexible monetary policy framework
No rate change until at least 2019, the BoJ says in new forward guidance
SNB chairman dismisses calls for revised inflation targets
Jordan says raising targets would 'harm credibility' built up over decades; sees room for more negative rates
Switzerland’s Jordan on extraordinary monetary policy and sovereign money
The Swiss National Bank governor speaks about currency intervention, negative rates, sovereign money and the diversification of reserves
BoJ may tweak policy at next meeting – local media
Speculation comes as Japanese central bank intervenes in bond market for first time since February
Ukraine’s central bank goes back to 5% inflation target
National Bank of Ukraine raises rates, despite falling core and headline inflation
BoJ looks set to cut its inflation forecast – again
There is no exit in sight for the Bank of Japan as inflation is likely to disappoint yet again, warns Sayuri Shirai
IMF aims at major reforms of Malawi’s central bank
Aid aims to help central bank move to interest-rate-based framework and inflation targeting
New Jamaican law could end Caribbean’s ‘colonial era’
Granting the Bank of Jamaica operational independence to pursue an inflation target could transform central banking in the Caribbean
Bank of Jamaica’s Wynter on the path to inflation targeting
Bank of Jamaica’s governor talks about revamping accountability, communications and operations as the central bank embraces inflation targeting
Alternatives to Japan’s 2% flexible inflation target
The Bank of Japan may review its policy framework, given its five-year failure to hit a 2% flexible inflation target