Inflation
Brazil street protests show crucial role of central bank, says ex-governor Franco
Some politicians have ignored fears about rising inflation in Brazil but street protests demonstrate the vital importance of the Central Bank of Brazil in fulfilling its mandate, says Gustavo Franco
Indonesia hikes policy rates by 50 basis points
Policy rate up to 6.5% despite falling growth; move aims to combat rising inflation, as international capital flows hit currency value
Israeli paper examines price-setting behaviour
Research finds that consumer prices in Israel are ‘moderately sticky’ and only change every 6 to 9 months; finds inflation expectations impact pricing behaviour more than actual inflation
Hungarian inflation bound for 3% target after central bank cuts again
Hungarian National Bank cuts benchmark interest rate by 25bp for 11th successive meeting; forecasts that inflation will pick up in 2014 and hit target the following year
Fed's monetary policy deviates from best practice, says Bullard
Fed monetary policy has deviated from central bank best practice and should be used ‘to meet policy objectives, not calendar objectives', says St Louis Fed president
Nabiullina faces ‘open question’ of how Bank of Russia will address growth
Elvira Nabiullina becomes Bank of Russia chairman on June 24; Deutsche Bank Russia research head plays down talk of an ‘excessive swing’ towards monetary easing
Bank of England paper says above-target inflation threatens expectations anchor
Article in latest quarterly bulletin says UK inflation expectations remain anchored for time being but could be dislodged if high inflation persists
'Furious' jobs increase boosts Bank of Canada’s Poloz
Statistics Canada reports increase of 95,000 jobs in May; Poloz uses first speech in role to call for economic rebalancing and issue warning over low inflation
Price stability ‘pivotal’ in shaping exchange rate pressures
Bank of Finland discussion paper analyses pressure on exchange rates during financial crisis; says countries that experienced high inflation beforehand were hardest hit
IMF paper dissects 'remarkably stable’ US inflation
Working paper examines factors behind favourable inflation performance in the US following the Great Recession, identifying three main causes
New York Fed forecasts support continued easing
Staff forecasts predict inflation and unemployment are unlikely to make significant progress toward their target levels in 2013
Norges bank governor justifies taking ‘a few years’ to increase inflation
Øystein Olsen says it is appropriate for central bank to tolerate below-target inflation; does not want to risk the build-up of financial imbalances
UK inflation fall takes markets by surprise
Analysts say bigger-than-expected drop in price rises gives Bank of England more room for manoeuvre on monetary policy, but no change is still expected at the next MPC meeting
BoE’s Weale wary of further easing damaging inflation expectations
Martin Weale says recent MPC remit change allows committee more freedom to deviate from inflation target, but reiterates need for the Bank of England to retain credibility on inflation
King shows cautious optimism with last inflation report at BoE
Growth forecast revised up and inflation down for the first time since the financial crisis; Report reflects new communications policy recommended by Stockton Review
Inflation target may necessitate hasty QE exit, says Plosser
Philadelphia Fed president argues for pace of asset purchases to slow from next FOMC meeting; says accommodative monetary policy may need to be removed 'more aggressively' than some think
Former MPC members warn against 'shock' QE exit
Andrew Sentance and Kate Barker warn of economic impact of the Bank of England ending its asset purchases; Sentance surprised by persistently low interest rates
IMF paper searches for deeper insight into the output gap
Working paper proposes method of estimating and decomposing output gaps; inflation found to have low weight
RBA cuts rates to record low
Central bank seeks to encourage rebalancing of demand as mining investment heads for peak; analysts see further rate cuts on the horizon
RBI cuts interest rate, while eyeing lower inflation
The Reserve Bank of India reduces benchmark interest rate for third time in 2013 to 7%; says there is ‘little space’ for further easing
Bank of Botswana delivers first rate cut since 2010
Botswana’s central bank cuts interest rate by 50bp to 9% to stimulate growth and employment despite continuing rise in inflation
MAS fears supply-side hindrance to growth and inflation
Singapore’s macroeconomic review laments ‘tepid and volatile’ growth; central bank expects moderate economic recovery and steady inflation in 2013
ECB annual report strikes hopeful note at end of rough year
Report highlights peak in financial market stress in mid-year, but says policy measures were effective in reducing this later in year; inflation above target and growth on downward slide
Bank of Canada annual report highlights banknote success
New series of polymer banknotes introduced in 2012 as counterfeiting continues to fall; inflation kept shackled throughout year but falls below target in December