Inflation targeting
RBA minutes drop hawkish language
Minutes of June meeting appear to contrast with recent remarks by governor Philip Lowe
BoJ cuts inflation estimate as it holds rates
Goshi Kataoka is sole MPC member to call for looser policy
Sarb should adopt mid-point in inflation target band – IMF
Inflation expectations could be lowered with the explicit adoption of a mid-point at an “opportune time”, fund says
Time for Central Bank of Argentina independence
Monetary financing has fallen sharply under Mauricio Macri’s administration, but must now end; independence law would help efforts to shatter Argentina’s inflationary shackles
Federico Sturzenegger on Argentina’s efforts to create a credible central bank
The Central Bank of Argentina governor, in his last interview before leaving office, speaks about panic in emerging markets, the IMF bailout, and bringing to an end high inflation and monetary financing
FOMC members rarely change their preferences – paper
Researchers find policymakers tend to form their preferences early on in life
Strike halts Australian banknote production
Unions reject 2% offer and point to governor’s call for higher wage increases
Mester backs review of Fed’s inflation targeting framework
Cleveland Fed president says 2% target may not be suitable for low interest rate environment
IMF recommends improved central bank communication in Latin America
Clearer policies and increased transparency could help to deal with future shocks
Argentina calls on IMF for help
President Macri calls upon the IMF for financial aid as peso depreciation continues; policymakers hold rates at latest meeting
Argentina’s central bank makes further emergency rate hike as currency falls
Bank makes second emergency rate hike in less than 24 hours
IMF says Ghana should change law to prevent monetary financing
Directors commend recent progress in reducing inflation but call for stronger safeguards
Book notes: I do what I do, by Raghuram Rajan
This collection of speeches and commentary sheds light on how the ‘rockstar’ central banker operated, but it reveals little in the more controversial areas of Rajan’s governorship
FOMC signals patience as rates stay on hold
Minutes emphasise “symmetric” target, noting inflation expectations are still “low”
Andreas Dombret on ECB policy, deposit insurance and Basel III
The Deutsche Bundesbank executive board member speaks about exiting QE, the viability of European deposit insurance, the German banking system and doing a deal on Basel III
Bank of Canada paper analyses benefits of higher inflation target
Success of higher target hinges on use of unconventional monetary policy and the level of real interest rates
Kganyago on central bank independence and future plans for the IMFC
The South African Reserve Bank governor spoke with Christopher Jeffery at the Central Banking Awards about the South Africa’s new president, the importance of operational independence and key targets for the IMFC
New RBNZ mandate is evolution not revolution, says McDermott
Inflation-targeting framework has been tweaked several times already – assistant governor
Incoming RBNZ governor signs deal on new mandate
Agreement establishes dual mandate in the birthplace of inflation targeting; government reveals more details on changes to decision-making structure
Populism challenges central banking independence, Bruegel says
Brussels-based think-tank gathers various works on the matter; overdue debates on inflation targeting could open
Norges Bank board strikes more bullish tone on outlook
Stronger signs from the economy prompt the central bank to bring forward plans for first hike; new inflation target will have limited effect on policy, central bank says
Ukraine’s MPC concerned over inflationary pressures – minutes
First published minutes show currency worries as deadlock blocks vote on governor
People: ECB clears way for de Guindos
Governing council says it has “no objection” to the Spanish candidate; Bank of England’s David Thorburn resigns; RBNZ gains a board member
Norway lowers inflation target and changes policy mandate
The new mandate emphasises the need for high employment and financial stability