Inflation-targeting independent central banks have a longer history than most CB regimes Market complacency that current regimes will remain is probably too optimistic Most new regimes mooted mean higher, more volatile inflation and thus lower growth Central bank and monetary policy regimes last longer than expected, but also change faster…
The Reserve Bank of New Zealand has a special place for central bank watchers. It pioneered the introduction of inflation targeting in the 1990s[1], and was for many the first truly independent central bank of the modern era, with a target of 0-2% inflation and the full freedom of independent…
Digital currencies – sometimes called cryptocurrencies – are suddenly much in the news. What is behind this, and what is the future for this new form of finance?
So far in this series of articles, we have considered the immediate challenges in front of central banks, which in a nutshell revolve around the normalisation of monetary policy and the re‑establishment of a more orthodox relationship with markets. In this final article we consider the longer term outlook, once…
