Inflation targeting
Book notes: Inflation targeting and central banks, by Joanna Niedźwiedzińska
A useful and rich reference source, especially for central banks moving to adopt inflation targeting
Stefan Ingves on central bank failings on inflation and financial stability
The Riksbank veteran speaks about liquidity, interest rate and non-bank regulatory reforms, the importance of saying ‘no’, and the need for explicit legal definitions for digital money
Canada opposition leader repeats promise to fire governor
Poilievre accuses government of interfering in central bank
Russian central bank raises rates and warns of more to come
Nabiullina says inflationary pressures are rising and warns of effects of bigger fiscal deficit
Sarb pauses rate rises in split decision
MPC votes 3–2 to hold rates at 8.25% after inflation falls within target range
Book notes: Forks in the road, by C Rangarajan
A memoir by one of India’s most distinguished governors, who presided over critical policy issues such as the 1990s’ balance-of-payments crisis
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
IMF approves $3 billion short-term loan for Pakistan
Saudi Arabia and UAE provide $3 billion more as country tries to overcome crisis
Bullard steps down as St Louis Fed president
FOMC hawk will become dean of Purdue Business School after 15 years leading regional Fed
Egypt announces ‘record’ inflation
Inflation continues rising despite monetary tightening and could trigger IMF consultation
Brazilian president’s nominees confirmed for central bank board
Observers speculate Galípolo may be next governor, while Santos is first Black board member
Ukraine’s governor on central banking in wartime
Andriy Pyshnyy talks about macroeconomic stability, running banks under missile attack, winning IMF aid and post-war reconstruction plans
Inflation targeters tend to pay monetary policy staff more
Salaries tend to rise with GDP per capita but less developed economies pay larger multiples
Brazil moves to adopt new targeting regime
National monetary council says it will aim for permanent inflation target from 2025
Kenya hikes 100 basis points at unplanned meeting
New governor says unexpected rise in inflation made rate increase necessary
New Zealand rejects RBNZ’s call for single price-stability goal
Updated central bank remit retains twin goals of price stability and maximum sustainable employment
A letter to Andrew Bailey
As the Bank of England struggles to bring inflation down, Jagjit Chadha warns the governor not to let markets take control
SBP reverses course and hikes rates 100bp
State Bank of Pakistan raises key rate in emergency session as IMF deadline looms
Africa: Rate rises for DRC and Namibia, but Zimbabwe says no
DRC and Namibia react to high inflation as expert says Zimbabwe is suffering hyperinflation
Latin America: Brazil holds rates despite president’s attack
Chilean board also holds policy, while Costa Rica cuts after inflation goes below target
Switzerland and Norway raise rates
Norges Bank expects further increases while SNB does not rule them out
Dominican Republic cuts key rate by 50bp
Central bank expects headline inflation will have returned to target in May
Central Bank of Chile sets first counter-cyclical buffer
BCC also warns government could face financing problems
Sarb raises rates and warns of worsening economy
Central bank cuts growth forecast and says long-term inflation expectations are rising