Inflation
Pakistani minutes show weak economy but low inflation
State Bank of Pakistan minutes show low level of private-sector credit and declining foreign investment behind stagnant economy; inflation lower than expected
CB.com poll reveals concerns over inflationary impact of QE
Majority of participants believe extraordinary monetary policy measures will cause central banks to overshoot inflation targets
Philippines’ inflation target will drop in 2015
Goal will decrease from 4% to 3% in line with the government’s desire for ‘disinflation’ and higher economic growth
Book notes: First Principles: Five Keys to Restoring America's Prosperity
The author's premise is that the best way to understand the problems confronting the American economy is to go back to the first principles of economic freedom upon which the country was founded
Carney and BoE chief economist clash on inflation targeting
Bank of England governor-elect Mark Carney suggests inflation target could be sacrificed for nominal GDP goal; Spencer Dale questions whether this would be effective or viable
Central Bank of West African States boosts growth estimates
Monetary policy committee praises member states’ investment in agriculture and infrastructure; holds benchmark interest rate
Malawian paper considers impact of output gap on inflation
Research published by Reserve Bank of Malawi uses three different measures to estimate output gap; finds only a weak link between business cycle and inflation
Oman GDP grows by 22.7% for second year in row
Annual report says domestic demand and higher crude oil prices catalysed growth
ECB lowers growth and inflation forecasts
ECB and BoE hold benchmark interest rates; Mario Draghi warns economic weakness will continue into next year, while inflation is likely to fall below its 2% target
Kosovan annual report notes inflation jump
Inflation and economic growth rate both increase in 2011; bank lending to households rises by 17.7%
RBA cuts rates to three-year low
Reserve Bank of Australia lowers rates despite growth near to trend and inflation likely to overshoot target in short run; dollar strengthens against greenback
Malawi minutes explain rate rise
Interest rate increased by 400 basis points as inflation hits 30.6% and the Malawian currency depreciates ‘faster than expected’
Bank of Albania – Annual Report (2011)
Bank of Albania 2011 Annual Report highlights a growing economy and inflation kept in check at 3.5%
Sarb’s Mminele highlights risks to emerging markets from QE
Daniel Mminele says unconventional monetary policy has complicated policy-making for emerging market central banks
Turkish minutes urge government to maintain discipline
Central Bank of the Republic of Turkey says annual inflation likely to come in lower than previously forecast, but this depends on the government adhering to fiscal commitments
Interest rate cut finally passes in Poland
Polish central bank’s monetary policy council agrees to cut rates by 25 basis points to 4.5%, after proposed cut mentioned in fourth successive meeting
Nigeria commits to tight monetary stance
Interest rate held at 12% despite decline in growth and core inflation
Tail risk evaluated in French paper’s new inflation measure
Study by Banque de France staff finds the expectations of extremely high and low inflation outcomes impacts actual levels
National Bank of Rwanda highlights payments progress
The number of ATMs, points of sale and debit cards in use has grown rapidly
External members again dominate Hungary’s monetary council
The council’s four external members outvote the governor and his two deputies for the third consecutive meeting, minutes show
Inflation jump exposed in BoE report
Bank of England adjusts inflation expectations after an October rise in inflation that some commentators branded as 'embarrassing'
Bank of Portugal forecasts economic contraction of 1.6% in 2013
The Portuguese inflation rate is expected to fall below 1% as the economy contracts next year
Icelandic rates raised as 2013 growth prospects strengthen
Inflation is lower than monetary policy committee expected; likely to be offset by spare capacity and low exchange rate
RBA’s ability to forecast put on trial
Discussion paper finds RBA forecasts inflation more accurately than GDP growth