Inflation
BoE’s MPC says UK outlook is ‘unusually uncertain’
Outcome of Brexit talks and evolution of pandemic leave future cloudy, BoE says
Fed faces longer-term challenges under new policy strategy
Steve Kamin warns central bank may not have paid enough attention to why r* has fallen
Divided Libyan central bank holds peace meeting
Central bank’s first board meeting in five years agrees single exchange rate for war-torn country
IMF’s Adrian weighs balance between stimulus and stability
Central banks need to incorporate macro-financial stability in decision-making processes, he says
Whither the age of ‘magic money’?
EME central banks are more exposed to changes in geopolitics, climate, demography, technology and inflation at a time when monetary theory is running well behind central bank practice
Few central banks forecast policy rates
Economics Benchmarks 2020 highlights wide variation in variables forecast by central banks
Monetary unions in the making in Africa
EAC, Ecowas and SADC can adopt practical steps learned from EMU to prepare for their own currency unions
ECB adds crucial tweak that could limit PEPP purchases
Hawkish governors secured wording that bond-buying allocation “need not be used in full”
ECB is caught in a ‘communications trap’ – Issing
Monetary policy architect says ‘close to’ 2% inflation target was never part of original plan; urges ECB to reject Fed-like average inflation targeting
Climate change on the agenda for most economics departments
Central banks explore a wide range of topics, with some differences between advanced economies and EMEs
The dawn of average inflation targeting
The Fed has failed to explain how it will calculate the ‘average’ for its new AIT framework, raising new risks that central bankers would do well to reflect on
Riksbank stresses pandemic’s unpredictability
Two board members thought it unnecessary to increase asset purchases, minutes show
RBI on hold as inflation outlook turns ‘adverse’
Central bank in a bind as supply problems drive up prices but growth still needs “nurturing”
Brazil central bank could ‘test’ lower rates if inflation remains weak – IMF
IMF staff see “no constraint” to lower rates as long as forward guidance is deployed
Forecast errors marginally higher for growth than inflation
Data shows contrast between advanced and emerging economies
Early estimate says eurozone inflation staying put
Eurostat estimates for November show core inflation also remained stable at 0.2%
RBA board not expecting to raise rates for three years – Lowe
Australian central bank leaves rates unchanged as governor forecasts unemployment will fall slowly
Monetary-fiscal policy co-operation and the ‘slippery slope’
Barry Eichengreen assesses the risks central banks face from their closer links to fiscal policy
Lessons from the Riksbank’s negative rates experiment
Sweden is the only nation to have implemented negative rates and then returned them to ‘normal’ territory. What can central bankers learn from the Swedish experience?
Rehn says ECB should adopt average inflation targeting
Finnish governor says current target has “asymmetric downward bias”
Sveriges Riksbank announces big QE boost
Swedish central bank increases size, scope and duration of asset purchases
Olli Rehn on AIT, market neutrality and EU fiscal policies
The Bank of Finland governor talks about the ECB’s strategy review, market failure on climate change, lessons from the sovereign debt crisis, and the Draghi legacy effect on Covid-19 responses
Ghana recovering faster than expected, says governor Addison
Growth has bounced back to double figures and inflation is expected to hit target by mid-2021
New Turkish governor presides over sharp rate rise
Erdoğan changes rhetoric to say country must be prepared to swallow “bitter pill” to beat inflation