Inflation targeting

Article Abstract:

Direct inflation targeting has become a key feature of economic policy in the UK. The European Central Bank has also announced that it will use inflation targeting as the main way of ensuring that it can taking into account the overall economic situation when implementing policy. The simplest approach to inflation targeting is adjusting monetary policy when the predicted rate of inflation rises higher than the announced target range. The Bank of England has taken a wider approach, as it takes account of other factors, including rates of wage change.

Management, Inflation (Finance), Inflation (Economics)

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An assessment of GDP targeting as a policy goal

Article Abstract:

It is becoming increasingly recognised in the UK that it may be advisable to establish a target for the growth of nominal GDP as a basis for monetary policy. This may prove more effective than an inflation target in stopping policy-makers from taking advantage of any short-term trade off between money and prices. However, it does imply that the authorities will not have the freedom to intervene to balance out the impact of short-term fluctuations in output and prices.

Models, Monetary policy

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UK cycles and barometric forecasting

Article Abstract:

The UK central Statistical Office (CSO) aims to track business cycles through using lags and leads as barometers. Leading indicators may be long term such as interest rates and dwelling started, and they may be short term such as registrations of new vehicles, and share prices. Employment and investment are seen as lagging indicators. This barometric method is used as a forecasting tool by the CSO and is a difficult task but is seen as a valid tool.

Measurement, Business cycles

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