Inflation
Domestic inflation remained ‘benign’ in 2015 – Rwandan statement
Inflation in Rwanda continued to record “moderate” and “low” levels throughout last year; current monetary policy stance “justified”
Peso depreciation casts shadow over Mexico rate decision
Central bank adamant it is not in a hiking cycle after 50bp rise; government taking steps to enforce measures on Pemex
Fed’s Harker adopts more cautious tone on policy
Philadelphia Fed president says it may be more 'prudent’ to wait for stronger inflation data before hiking for a second time; sees inflation rising more gradually than before
Soaring inflation sees Mozambique hike by 100bp
Inflation reaches 11.25% in January as a result of food-price shock; central bank hikes while government attempts to focus on other figures
Riksbank cuts to new low, despite signs of overheating
Central bank pushes policy rate 15bp deeper into negative territory even as economy moves close to full capacity; board responding partly to policy easing abroad
BoJ report spells out reasons for dissent on negative rate
Board members had wide range of concerns over cutting rate below zero, including communication challenges, risk of financial instability and danger of triggering a global race to the bottom
Carney says rate hold was ‘easy decision’ after 9-0 vote
‘Super’ Thursday becomes ‘subdued’ Thursday as BoE revises growth, inflation and unemployment forecasts down; policy on hold
IMF staff tell Turkey to fix imbalances
Fund mission says central bank must tighten policy to head off growing external imbalances and inflation; low oil price keeping a lid on problems but longer-term solutions needed
BIS paper finds forecasters put too much faith in private information
‘Noisy information model’ of inflation forecasting implies forecasters put inefficient weightings on private information to differentiate themselves
RBI says future action depends on government decisions
Rajan says further easing depends on government budget and the result of pay negotiations; efforts are continuing to improve transmission mechanism, which could push rates down
RBA flags scope for easing despite inflation rebound
Central bank emphasises need to battle below-target inflation despite recent uptick; holds key interest rate but says future cuts may still be an option
Rajan flags pitfalls of short-term thinking
RBI governor extols the virtues of macroeconomic stability, defending the central bank’s strict stance on inflation and calling on the government to stick to its fiscal consolidation plans
BoJ slashes key rate below zero in contentious decision
Kuroda mulls further cuts as central bank intensifies battle against 'deflationary mind-set' in 5-4 vote; yen drops as inflation forecast revised down
Kganyago reiterates ‘hiking cycle’ as Sarb raises rates
Risks noted at previous MPC meeting are now materialising; continued volatility expected in the exchange rate
Turkish inflation seen returning to 5% in 2018
Latest projections from the Central Bank of the Republic of Turkey suggest headline inflation will only return to target in 2018, after it overshot October forecasts, rising to 8.8%
Reserve accumulation can be inflationary, ECB paper says
Working paper examines the allocation of special drawing rights in 2009 to separate out the inflationary effects stemming from an increase in the monetary base and moral hazard
Tobacco prices ‘insufficient’ to offset food and energy, says Tonga central bank
Headline inflation in Tonga rose to -1.2% in December, but in its inflation report for November, the central bank warns price increases will likely remain low
BoE’s Weale sees shorter working week adding to inflation
Various measures suggest UK workers will gradually cut back on the number of hours they work over the next few years, adding to unit labour costs, external MPC member says
Economists point to external woes as Central Bank of Brazil holds rates
Monetary policy committee leaves interest rate at 14.25% in surprise move; politics and fiscal policy making life harder for central bank, analysts suggest
Observers cast doubt on first Venezuelan inflation figures in a year
Central bank report puts annual inflation at 141% at end of September, after a year without publishing the data; some consider the figure to be too conservative
Carney says UK rate hike still some way off
Continued weakness in key indicators begins to puzzle policy-makers as Carney suggests there is room for the MPC to wait longer; CPI and core inflation on the rise
IMF cuts global growth forecast on back of EM challenges
Maurice Obstfeld says emerging markets and developing economies account for more than two-thirds of revisions; largest changes come in Brazil, where the MPC meets today
New York Fed president keeping eye on expectations
William Dudley expects inflation expectations to increase if the economy keeps growing at an above-trend pace, but any deviation could be cause for concern
Jamaican report says inflation risks balanced for 2016
Latest forecasts suggest inflation will rise to lower end of Bank of Jamaica’s target range in coming months; downside risks include reversal in food prices