Inflation
Fed paper analyses core inflation measurement
Working paper attempts to produce optimal gauge of core inflation by excluding items with high variance; finds new index outperforms current measures ex-post, but is no better ex-ante
National Bank of Hungary predicts stagflation
Quarterly inflation report projects growth contraction in 2012; says inflation is likely to persist above target due to government tax increases
RBI executive director weighs financial stability objective
Deepak Mohanty considers financial stability as part of a central bank’s mandate; emphasises importance but says price stability should not be subordinated
Czech National Bank paper studies changing inflation dynamics
Working paper examines causes of changing inflation dynamics in central Europe; finds inflation expectations play a 'substantial role' in price stability
Reserve Bank of India's governor defends policy stance
Duvvuri Subbarao responds to critics of the RBI’s tight monetary policy; says central bank’s actions are justified despite supply shocks and slowing growth
Bank of Israel review shows mixed economic outlook
Review of economic developments gives mixed assessment of economic outlook; says growth below potential but inflation on target
BoE minutes show dovish shift
Minutes from Bank of England monetary policy committee’s latest meeting reveal governor Mervyn King voted for an increase to the asset purchase programme in the UK; lost out in narrow vote
UK inflation unexpectedly drops again
Office for National Statistics reveals CPI annual inflation fell this month; leads to renewed QE expectations and predictions of on-target inflation figure by the end of the year
Former Brazilian governor takes additional advisory role
Henrique Meirelles appointed as senior adviser at Kohlberg Kravis Roberts; adds firm to a substantial list of board positions and advisory roles
MAS survey shows optimism about economy
Forecasting survey highlights positive views on economy in Singapore; GDP growth expected to strengthen over coming year
Japanese prime minister nominates new rate-setters
Two new board members put forward by Yoshihiko Noda; nominations need approval by both houses of the Japanese parliament
Central Bank of Colombia paper models transparency incentives
Working paper evaluates central bank incentives to misrepresent private information; finds central banks cannot credibly commit to truth-telling
Albanian governor discusses monetary policy decision
Bank of Albania governor Ardian Fullani describes mixed economic outlook; central bank keeps rates unchanged at 4.25%
IMF paper develops model of world economy
Paper builds structural macroeconomic model of world economy; says such models are “prerequisite” to IMF surveillance
Shirakawa discusses BoJ monetary policy
Governor of Bank of Japan considers central bank’s monetary policy stance and explains the rationale behind recent policy decisions
Brazil’s Tombini seeks appointment of new director
Governor of the Central Bank of Brazil nominates candidate to become director of special affairs; former governor Henrique Meirelles announced as chairman of Lazard Americas
Sarb publishes Monetary Policy Review
South African Reserve Bank Monetary Policy Review notes continuing global uncertainty; central bank decides to maintain repurchase rate of 5.5%
Serbian vice-governor considers inflation outlook
Bojan Marković, presents the National Bank of Serbia’s May inflation report; inflation expected to return to target despite uncertainty
Bank Negara Malaysia reports slower economic growth
Overview of economy shows growth fell to 4.7% in Malaysia in the first quarter of 2012; domestic demand stays strong but export market slows
IMF calls for looser monetary policy in the UK
Latest Article IV review of UK urges further QE or a cut to policy rate; Fund calls on Bank of England to act to boost growth
RBI paper considers monetary transmission in India
Reserve Bank of India working paper focuses on operation of monetary transmission mechanism in India; demonstrates significant causal effect of rate changes
BoE paper studies forecasting models
Working paper from Bank of England compares models with time-varying parameters in forecasting UK GDP growth, inflation and interest rates under structural change
Posen to leave Bank of England’s MPC
Adam Posen will not seek reappointment to Bank of England’s Monetary Policy Committee; takes on role as president of Peterson Institute of International Economics
BoE’s King says eurozone is ‘tearing itself apart’
Latest Inflation Report from the Bank of England lowers growth estimates for the economy; King says situation in eurozone continues to put pressure on the UK