Inflation
Atlanta’s Bostic ‘sceptical’ about low inflation factors
President of Atlanta Fed is not sure technology and competitive pressures are to blame for prolonged below-target inflation
John Williams on the neutral rate of interest and mandate change
The president of the Federal Reserve Bank of San Francisco speaks about the plunge in the natural rate of interest, and why it means central banks should work together to review their price stability targets
Chicago Fed’s Evans sees little risk of inflation surge
Study by the Chicago Fed finds little evidence there could be a threshold in unemployment beyond which inflation may surge
Bank of Ghana pauses policy easing on inflation worries
Central bank holds interest rates at 21% to see if external pressures will prove persistent; improvement in export prices will provide country with buffer against shocks
Kuroda deflects criticism of 2% target
BoJ governor pushes back at those calling for a reduction in the target, as inflation in Japan remains off course
Central banks may be thinking wrongly about inflation – Borio
BIS economist says inflation may not always and everywhere be a monetary phenomenon, which could help explain why the natural rate is so low
Riksbank welcomes higher inflation
Minutes of last monetary policy meeting caution krona has appreciated faster than previously forecast
Argentine central bank can progress without independence law – chief economist
Pablo Neumeyer says current policies are working and may create the consensus for future law
Brexit brings inflationary risks, Carney says
“Continued erosion of slack” is putting pressure on MPC, governor says
Rising debt threatens Swedish stability – deputy governor
Ohlsson welcomes higher growth, but says inflation must rise sustainably
Canadian deputy: inflation target renewal aids policymaking
A renewal period offers the bank a research opportunity to examine monetary policy framework; such research prompted a decision to maintain inflation target at 2%
Turkey keeps rates unchanged on high inflation
Central bank says tight stance will remain until prices approach 5% target
Falling Swiss franc boosts inflation but SNB policy is unchanged
SNB revises down GDP growth forecasts and warns franc “remains highly valued”
Hawkish signs appear in BoE’s latest communication
Committee still split 7–2 in favour of keeping policy on hold, but members flag possibility of a hike at the November meeting
Only 30% probability of eurozone inflation hitting target in next year, paper says
Italian researchers present composite index based on 15 indicators of price dynamics
Denmark central bank issues warning as economy heats up
The National Bank of Denmark cautions the labour market is tight and the economy may be close to overheating
Cleveland Fed’s Mester upbeat on prospects for US economy
Loretta Mester backs continued gradual rate rises and the commencement of balance sheet normalisation “in the near future”
Swaziland central bank needs macro-prudential powers – IMF
Fund urges authorities to fast-track reform to give central bank financial stability mandate; reliance on customs union leaves economy vulnerable
Bank of Canada rebuts ‘epic fail’ communication claim
Central bank’s head of comms rejects criticism from Bank of Montreal that policymakers failed to properly signal its recent rate hike
Low-income families suffer higher inflation rates, paper finds
The differences in prices occur in the same categories of goods
Dispelling the German monetary myth
Economic historian Simon Mee finds the famous German aversion to inflation was the product of political battles in the mid-twentieth century
Falling import prices and lower expectations hamper Fed, Brainard says
Long period of low inflation may affect households’ inflation expectations, Fed board member says
Fed rate hikes may be damaging the economy – Kashkari
Neel Kashkari says low inflation may be the result of tighter policy
Book notes: Advice & Dissent: My Life in Public Service, by YV Reddy
An engaging look into the private life and career of a former governor of the Reserve Bank of India, and arguably one of the best central bankers of the twentieth century, YV Reddy