Inflation
Central Bank of Brazil says ‘intensification’ in pace of monetary easing might be warranted
Some members of the committee said there could be room for a larger rate cut, minutes show; slowdown in inflation and implementation of government fiscal policies prompted 25bp cut
Changing policy impact may knock forecasts askew – Riksbank economists
Economists suggest systematic errors of forecasts in recent years may reflect changes in the effectiveness of monetary policy
Venezuela central bank launches new banknotes amid soaring inflation
The bolivar has weakened to unprecedented levels as inflation soars and political instability engulfs the nation; new note series’ highest denomination is 200 times larger than current highest
Brazil cuts interest rates amid US economic uncertainty
Uncertainty around the rate of disinflation prompts committee to reduce rates with caution; pace of disinflation may “intensify”, says Copom, dependent on strength of economic recovery
BoE’s Vlieghe dismisses neo-Fisherian idea that low rates cause low inflation
MPC member says “small minority” of academics who suggest lower rates may cause low inflation do not present particularly compelling arguments
Norges Bank paper presents new evidence on immigration impact
Authors seek to disentangle immigration shock from broader macroeconomic effects, using unique Norwegian data series
Peso depreciation is ‘necessary’ – Bank of Mexico report
Mexico’s relationship with the US has made it sensitive to economic policy decisions by its major trade partner; latest report explains the central bank will prevent exchange rate “contagion”
Malawi cuts interest rates on the back of lower inflation
Central bank cuts interest rates by three percentage points to contain inflation, though it also hopes to protect reserves
Kganyago says low point for growth has ‘passed’
The Sarb governor says inflation is “uncomfortably close” to the upper end of the target range; the monetary policy committee unanimously votes to keep rates on hold
Turkish central bank hikes as Trump election hits lira
Turkish lira has been targeted in emerging market currency sell-off; rate hike ignores the latest call for more cuts from Turkish president
Serbia is ready for lower inflation target – Tabaković
Monetary policy and fiscal discipline has allowed Serbia to “join the ranks” of low-inflation countries; projections for growth revised up
Central Bank of Argentina makes third cut in three weeks
Central bank cuts rate on its 35-day Lebac bonds to 25.25%, with analysts expecting further cuts to come as the institution begins transition to new monetary policy instrument
BoJ paper designs new measure of trend inflation
Author’s measure reflects the weighted average of an adaptive component and a forward-looking component
Carney faces grilling from parliament in wake of tenure decision
Regardless of Brexit timetable, BoE governor will leave on June 30, 2019; he warns firms could trigger plans to leave London in late 2017 if Brexit deal proves unsatisfactory
Negative oil shocks outweigh positive ones, says Irish paper
Researcher uses TVAR model to examine eurozone data; concludes size of oil price and economic shock also affects impact on inflation
Reserve Bank of Malawi issues new highest denomination banknote
Central bank issues new denomination as inflation and depreciation continue; 2,000 kwacha note will enter circulation next month
IMF praises Argentinian central bank for proposed changes to monetary policy framework
IMF encouraged by Argentina’s progress but says more effort required to strengthen monetary policy framework, including granting central bank operational independence
IMF lifts censure on Argentinian inflation
Inflation and GDP figures now in line with international standards, fund acknowledges; Lagarde praises Argentinian authority’s efforts to reform statistical agency
RBNZ delivers rate cut as exchange rate strength persists
Board reaffirmed move in light of Trump victory, but cut has been in the offing for some time as NZ dollar strength holds down inflation
Dallas Fed research seeks to improve real-time inflation forecasts
Economists break surveys of inflation expectations down into parts, finding stripping out the noise component improves forecasting
Is the Central Bank of Argentina back?
The Central Bank of Argentina’s new governor, Federico Sturzenegger, has made strong progress in tackling runaway inflation and reversing the country’s monetary decline. But many challenges remain
Weighting models by performance is better than taking simple averages, researchers say
Weighting models by performance is better than taking simple averages, researchers say
Norges Bank deputy warns of vulnerabilities in financial system
“Sharp rise” in property prices and high household indebtedness are a concern, the latest financial stability report reveals; banking sector’s largest corporate exposure is to the real estate market
Bank of England MPC backtracks on planned rate cut
Latest inflation report forecasts larger overshoot of 2% target; there are “limits” to the extent to which above-target inflation can be tolerated, committee says