Inflation
ECB makes no change as Lagarde warns of uncertainty
Lagarde says price pressures remain weak and cautions over possible Covid-19 variants
Syrian dictator appoints new central bank governor
Authorities halve official value of Syrian pound as civil war continues to damage economy
ECB watchers say divisions on council could hamper decision-making
Analysts say central bank’s strategy of lower purchases could be tested later in 2021
Biden stimulus will not move inflation much – Chicago Fed paper
Research finds most models predict very limited and short-term increases
Bank of Israel: vaccination fuelling rapid recovery
Inflation expectations are increasing, but headline figure still well below target
Is the ECB implementing yield curve control?
The eurozone has adopted a hybrid system – lying somewhere between the Fed’s QE and the BoJ’s yield curve control – that targets wider financing conditions
Argentine court drops charges against governor
Former governor Alejandro Vanoli and other officials cleared in dollar futures scandal
Sarb projects ‘sharp but incomplete initial recovery’
South African inflation forecast to rise on higher electricity and water prices
Turkish central bank holds rates despite rising inflation
New governor’s first meeting says Turkish economy faces risks “in both directions”
MMT rests on ‘untested statements’ – Richmond Fed paper
Authors warn that modern monetary theory rests on shaky foundations
Syrian president fires central bank chief
Karfoul struggled to deal with further sharp slide in Syrian currency amid civil war, reports say
Inflation in Sweden rises to 1.9%
Analysts say stable core inflation means Riksbank is unlikely to tighten policy
BoC survey says firms expect higher inflation
Over half of Canadian businesses expect annual inflation will exceed target level’s midpoint
Sweden’s pension funds curb inequality, official says
Riksbank’s Ohlsson says collective funds mean high asset prices benefit wider population
‘Bottom-up’ approach can improve inflation forecasts – BoE paper
Item-level inflation data contains useful information for forecasting, authors find
Bank of Israel’s reserves reach new record high
Reserves portfolio reaches $185.7 billion, driven by central bank’s FX interventions
Hungary’s central bank triples gold holdings
MNB says inflation risk and higher government debt played “key role” in decision
IMF adjusts growth forecasts upward
Fund warns of uneven and unequal recovery, but is more optimistic than it was in October
Higher debt likely to expose EMs to stress – Brazil’s governor
Roberto Campos Neto argues Brazil’s higher inflation is due to temporary shocks
Rising rates could endanger emerging market recovery, IMF warns
“Divergent recovery” likely to create financial stability challenges, report says
‘Giant of the field’ Robert Mundell dies
The Nobel laureate influenced a generation of economists via the Mundell-Fleming model
Fed won’t set rates to ease debt pressure – Waller
Newest Fed board member stresses central bank autonomy in first public address
A rebuttal of Philip Turner’s criticism of the BIS ‘house view’
Robert Pringle critiques the key findings raised in Philip Turner’s occasional paper, ‘The new monetary policy revolution: advice and dissent’
BoE’s Tenreyro highlights divergence in UK and US policies
US focused on protecting incomes, while UK protected jobs, MPC member notes