- European Central Bank Independence: Theory and Reality
The European Central Bank is supposed to be entirely independent of the political process. They have an inflation target and are supposed to manipulate interest rates and money creation in order to achieve it and that's it. Heartfelt pleas for leniency, lower interest rates and so on from politicians are supposed to mean nothing to the bank. 欧州中央銀行（ECB）は、政治プロセスから完全に独立することになっています
- Sweden leads rethink on asset-bubble curbs
Sweden's central bank may set the direction for other policymakers as it looks beyond conventional inflation targets to asset-price growth in an effort to prevent the next bubble.
それは次のバブルを防ぐための努力の資産価格の上昇、従来のインフレ目標を超えて見えるように、スウェーデンの中央銀行は、他の政策の方向を設定することができます
- Chinese economy grew 10% in 2010
The Chinese economy grew around 10.1 percent last year, the deputy head of the National Development and Reform Commission (NDRC) told Reuters Saturday, which amounts to the fastest pace of annual growth in three years.
Zhang Xiaoqiang, vice chairman of the National Development and Reform Commission, said the gross domestic product totalled about 39.5 trillion yuan ($6.00 trillion) in 2010. But Zhang noted that China may struggle to meet its 2011 inflation target of 4 percent as domest ... 中国経済は昨年の約10.1％成長し、国家発展改革委員会（国家発展改革委員会）の副理事長は、3年間で成長の速いペースにのぼるロイター土曜日は、語った
- S Korea's consumer prices hit 27-month high in Feb.
South Korea's consumer prices hit a 27-month high in February mainly due to higher food and oil-related costs, a government report showed Wednesday.
South Korea's consumer price index (CPI) jumped 4.5 percent in February from a year earlier, after gaining 4.1 percent in January, Statistics Korea said in the report.
The February reading breached the central bank's 4 percent ceiling for the second consecutive month and stayed much higher than the government's inflation target of 3 percent.
... 韓国の消費者物価は2月を中心に高い食品や石油関連コストのために27カ月ぶりの高値を押せば、政府の報告書は、水曜日を示した
- S Korea's CPI growth slows to 4.1% in May
South Korea's consumer prices rose at a slower pace in May, but remained higher than the central bank' s inflation target for five months in a row, a government report showed Wednesday.
Consumer price index (CPI) increased 4.1 percent in May from a year earlier, after gaining 4.2 percent in April, Statistics Korea said in a monthly report. The country's inflation eased due to slower price growth in agricultural and oil products, but it breached the Bank of Korea ( BOK)'s 4 percent ceiling for ... 韓国の消費者物価は、5月の遅いペースで上昇したが、連続で5ヵ月間、中央銀行のインフレ目標よりも高値を維持し、政府の報告書は、水曜日を示した
- Ben Bernanke's too timid QE2 | Dean Baker
The Fed's $600bn bond spree is not wrong, just not enough. The US economy needs a target of 3-4% inflation to get movingThe recent economic data leaves little doubt that the economic recovery in the United States is anaemic at best. There was much celebration over the October jobs report, which showed a gain of 151,000 jobs. This was better than the near-zero number anticipated by most economists, but should hardly provoke cries of joke. The economy must create 100,000 jobs a month just to keep even with the growth of the labour force, which means that it will take more than a decade at this pace to get back the 7.5m jobs lost to date.The picture painted by the data on third-quarter GDP, which was released the prior week, was even bleaker. Most reports focused on the 2.0% growth number, which was slightly higher than had been expected. However, these reports missed the fact that most of this growth was due to the extraordinary pace of inventory accumulation in the quarter. The rate of accumulation in the third quarter was the second highest ever, adding 1.4 percentage points to growth for the quarter. Excluding this jump in inventories, the economy grew at just a 0.6% annual rate in the third quarter. If inventory growth returns to a more normal level, fourth-quarter growth will likely be negative.The Fed's decision to try another round of quantitative easing must be understood in this context. The US economy is operating far below capacity and is not likely to return to potential output any time soon without some outside boost. The Fed's decision to buy $600bn in government bonds over the next eight months is a step in this direction.This is a followup to an earlier round of quantitative easing announced at the beginning of 2009, in which the Fed bought $1.25tn of mort FRBの$ 6,000債券まくるだけで、十分に間違っていないことをされていません
- Kan wants BOJ support but rules out rigid inflation target
Japanese Prime Minister Naoto Kan has called on the Bank of Japan to work together in supporting the economy but ruled out imposing a rigid inflation target on the central bank to beat deflation.
日本の総理大臣菅直人は、日本銀行の一緒に経済を支える動作するように求めているが、中央銀行のデフレを破って硬直したインフレ目標を課すことを否定した
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