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The Fed is attempting to reverse this downshift saying it is set to keep policy “sufficiently restrictive for some time”. Next week, the FOMC will agree to slow rate hikes again and will discuss how much further to go.
One of the non-forward-looking tools used for inflation analysis by central banks and academia in general is core inflation, but it may include distortions that lead to misleading conclusions. This paper explores trimmed means as an alternative.
Spain must combine fiscal consolidation and budgetary stability with growth. It must increase the weight of productive public expenditure over total public spending and improve its efficiency, as a strategy for inclusive progress, in order to r…
As with any fever, inflation in 2022 was only the symptom of serious ailments. So why was the action of the European Central Bank (ECB), which raised rates from 0 to 2.5%, so important?
The main developments this year are the 8.5% revaluation of pensions in accordance with average monthly inflation from November 2021 to 2022 and the 15% increase in non-contributory pensions.
In December, monthly inflation rose to 1.26% and annual inflation reached 13.12%, accelerating by 59 bps from the previous month's figure and again exceeding market analysts' expectations of 12.64% (according to Banco de la República's survey of analysts' expectations).
Consumer prices increased by 1.2% in December and annual consumer inflation fell sharply on base effects to 64.3% from the previous 84.4%, leading to a full year average of 72.3%. We expect annual CPI to come down to 50-55% in 1Q23 and decline further to 40-45% just before the elections and year-end inflation to be 42%.
The Consumer Price Index in Lima increased 0.79% month-on-month in December. This was mainly due to the increase in food prices and interprovincial transport (due to increased demand for year-end celebrations).
Unusually and unexpectedly high inflation has been one of the most analyzed and discussed topics in 2022. Its causes and consequences have been at the very heart of the economic debate. And although its determining factors have not yet been une…
2022 has been a year of transition for banking. It started off with a lot of dynamism, as the economic recovery was expected to consolidate, leaving the pandemic behind us. But the war initiated by Russia in Ukraine radically changed the course…
2022 has been a dismal year for the fixed income market in general, including sovereign bonds. As the year draws to a close, bond prices, which move inversely to their yields, have fallen by an average of about 15% globally.
The crisis of 2022 has central banks striving to avoid the sins of the 1970s, fiscal policy resisting to avoid repeating the mistakes of 2009 and 2012, and the new international order trying to learn lessons from what happened 100 years ago.
