Inflation targeting
Yellen says central banks should consider moving inflation targets
But former Fed chair says changing targets would be “a tricky business”
Fed should review monetary policy framework – Mester
Several FOMC members raised policy review at January meeting, Cleveland Fed president says
Philippines central bank on hold, despite surging inflation
January inflation hits three-year high, prompting many to expect a rate hike in the coming months
Governor of the year: Lesetja Kganyago
Kganyago has defended and enhanced the Sarb’s reputation as an independent and well-governed institution against all threats – despite a turbulent political and economic backdrop
Bank Indonesia launches joint initiative as rice prices bite
Indonesian central bank and government announce joint measures to control inflation arising from food price volatility
IMF welcomes reform progress in Egypt
A flexible exchange rate and tighter policy have helped stabilise the economy
Central Banking Awards: Bank of Canada is central bank of the year
Awards go to the Bank of Canada, PriceStats, Perago and De La Rue
Central bank of the year: Bank of Canada
The Canadian central bank has stood out for its ever-improving levels of transparency, forward-looking management and best-practice review of its policy mandate
Goodfriend’s economic views challenged by US senators
Nominee to Fed’s board criticised the dual mandate of low inflation and unemployment in the past
BIS paper explores effects of global factors on inflation
Authors find impact of global factors is mainly temporary, but the effects appear more significant for countries without long-established inflation targets
Argentina cuts rates, but keeps focus on inflation
Analysts express concerns over the decision, as inflation remains high
Bernanke says Fed likely to review policy framework
Former Fed chair says analysis on change to inflation targeting is likely; panel of experts presents wide range of views on what any change should be
Progress on policy offset by shocks from bad weather – CBSL governor
Sri Lanka suffered from both droughts and floods in 2017 but new policy measures are helping stabilise the economy, says Indrajit Coomaraswamy
Argentina lifts target as inflation persists
IMF recommended keeping tighter monetary stance in latest report in December; Argentina’s move could impact central bank credibility
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
Bank of England operations could leave London under Labour government
Report envisages BoE’s regional offices becoming part of national investment strategy; inflation mandate could also be changed
More easing next year if inflation does not pick up – RBNZ
Global supply chains, the rise of China and the digital economy led to a low traded-goods inflation
Sri Lanka on track to flexible targeting – deputy governor
The central bank has much of the infrastructure in place, but the pace needs to increase if 2020 deadline is to be met, says Weerasinghe
Fed’s Williams proposes new tools to deal with future crisis
Structural factors beyond central banks’ control keep natural rate of interest lower
Productivity puzzles and the neutral rate of interest
Monetary policy frameworks should be subjected to internal and external reviews to ensure they remain fit for purpose
RBA cuts forecasts as inflation disappoints
The Reserve Bank of Australia expects to undershoot its inflation target for another year
Doubts emerge over RBNZ mandate plans
Acting governor Spencer says a dual mandate would have little impact, but expresses concern over a committee structure; former RBNZ economists weigh in
Poloz: standard inflation theories still work
Old relationships “are as applicable today as they ever were”, says Bank of Canada governor
Korea suffering from ‘missing inflation’ – deputy governor
Core inflation is still in the mid-1% range despite economic improvement