Will Venezuela"s New Floating Exchange Rate Curb Inflation?

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Will Venezuela"s New Floating Exchange Rate Curb Inflation?

Bacon, Inflation, And "What Gets Measured Gets Managed"

At Not Just The News, the privacy of our visitors is of extreme importance to us (See this article to learn more about Privacy Policies.). This privacy policy document outlines the types of personal information is received and collected by Not Just The News and how it is used.

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Bacon, Inflation, And "What Gets Measured Gets Managed"

UPDATE 1-China inflation hits 7-month low, eases tightening fears

UPDATE 1-China inflation hits 7-month low, eases tightening fears
http://pixel.quantserve.com/pixel/p-89EKCgBk8MZdE.gif

Wed Jan 8, 2014 10:05pm EST

*  Dec CPI +2.5 pct yr/yr, vs forecast +2.7 pct

*  Dec PPI -1.4 pct yr/yr, vs forecast -1.3

*  Dec CPI +0.3 pct from Nov, vs f’cast +0.4

BEIJING, Jan 9 (Reuters) – China’s annual consumer inflation slowed more sharply than expected to a seven-month low of 2.5 percent in December, easing market fears of tighter monetary policy rates although the central bank is tapping the brakes on bank liquidity.

Rising money market rates and bond yields indicate the People’s Bank of China (PBOC) is tightening liquidity conditions, to reduce debt levels and contain credit growth, but there is little sign of a sharp turnaround in its policy stance.

The central bank has pledged to continue to maintain prudent monetary policy in 2014 and keep reasonable money and credit growth to support the real economy.

The drop in inflation last month, from November’s print of 3 percent, was sharper than a fall to the 2.7 percent rate expected by the market, slowed by volatile food costs.

Food prices rose 4.1 percent in December from a year earlier, slowing from November’s 5.9 percent rise, the National Bureau of Statistics said on Thursday.

But analysts warn inflation may quicken in coming months as the government pushes market-oriented reforms to liberalise energy and utility prices.

“While the CPI inflation came in lower than expected, the January figure will likely exceed 3 percent again due to the Chinese New Year effect,” said Zhou Hao, an economist at ANZ in Shanghai.

“Inflation could exceed 3.5 percent in the second half of 2014, as upcoming pricing reforms could push up commodity and public utility prices. Therefore we think that CPI inflation will be 3.2-3.4 percent on average this year.”

Month-on-month, consumer prices rose 0.3 percent versus 0.4 percent expected by economists.

China’s inflation was 2.6 percent over the whole of 2013, well within the government’s target limit of 3.5 percent, the bureau said.

The bureau also said that China’s producer prices fell 1.4 percent last month from a year earlier – the 22nd consecutive month of decline – versus the same rate of factory price deflation in November.

The inflation news precedes December trade figures due on Friday and fourth quarter gross domestic product data due Jan 20.

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Reuters: Bonds News

Read more about UPDATE 1-China inflation hits 7-month low, eases tightening fears and other interesting subjects concerning Bonds at TheDailyNewsReport.com

China inflation hits 7-month low, eases tightening fears

China inflation hits 7-month low, eases tightening fears
http://pixel.quantserve.com/pixel/p-89EKCgBk8MZdE.gif

A customer picks up a shoe at a shop where posters advertising price discounts are hung, outside a department store in Beijing, October 23, 2013.

Credit: Reuters/Kim Kyung-Hoon

Reuters: Business News

Read more about China inflation hits 7-month low, eases tightening fears and other interesting subjects concerning Business at TheDailyNewsReport.com

Does Austerity Increase Inflation?

Fed could delay rate hikes with inflation "floor": Fed study

Fed could delay rate hikes with inflation "floor": Fed study
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By Ann Saphir

SAN FRANCISCO Wed Dec 4, 2013 2:18pm EST

An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013.

Credit: Reuters/Jonathan Ernst

SAN FRANCISCO (Reuters) – The Federal Reserve could bolster its commitment to ultra-low interest rates by ruling out a rate hike until inflation heads closer to its 2-percent goal, according to research published Wednesday by the Cleveland Fed.

The study plunges the usually low-profile regional Fed into one of the most pressing debates among U.S. central bankers: how best to keep market rates from rising to potentially growth-sapping levels once the Fed begins to withdraw its massive monetary stimulus.

Fed policymakers fret that when they begin to reduce their $ 85-billion-a-month bond-buying program, investors will conclude that rate hikes are not far behind, and will push up market rates farther and faster than the Fed believes is healthy for the economy.

Policymakers are therefore keen to find ways to convince markets they are serious about keeping rates low for a long time.

Wednesday’s research may add weight to arguments for adopting a so-called inflation floor. Edward Knotek II, who co-authored the study with fellow Cleveland Fed researcher Saeed Zaman, said he believes they are among the first to publish a study assessing the benefits of an inflation floor.

The study shows not just that a floor can delay the likely timing of the Fed’s rate hike, but also that “the choice of the floor matters,” he said in an interview.

Adopting an inflation floor of 1.75 percent, a promise that the Fed will not even consider raising rates until inflation is projected to breach that level, would likely delay any rate hike until the first quarter of 2016, the research showed.

An inflation floor of 1.5 percent would likely keep the Fed from raising rates only until the second quarter of 2015.

By contrast, the Fed’s current pledge to defer any rate hike until either the unemployment rate falls to at least 6.5 percent or inflation threatens to rise above 2.5 percent could result in rates rising as early as the first quarter of 2015, according to the research published Wednesday.

That’s earlier than a number of Fed officials believe is either likely or desirable.

Cleveland Fed chief Sandra Pianalto, who has announced plans to retire early next year, has not herself publicly embraced an inflation floor.

But the idea has a “few” supporters at the Fed, minutes of the central bank’s October meeting show, including most vocally St. Louis Fed chief James Bullard.

Asked about an inflation floor in September, Fed Chair Ben Bernanke said that it was “one possibility.”

Fed policymakers next meet in about two weeks.

Other policy options aimed at underscoring the Fed’s commitment to low rates include lowering the unemployment threshold for considering a rate hike to at least 6 percent and lowering the interest paid to banks on their excess reserves.

The chiefs of the Minneapolis and Chicago Feds have strongly supported the first idea; the latter has the backing of San Francisco Fed President John Williams.

More popular among policymakers, the October Fed meeting minutes suggested, is to leave the thresholds be and to instead offer qualitative guidance to markets about what conditions would prompt it to raise rates.

Providing such details, San Francisco Fed’s Williams told Reuters on Tuesday, would reassure investors rates will stay low for a long time even after the Fed stops buying bonds.

(Reporting by Ann Saphir; Editing by Chizu Nomiyama)

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VIDEO: Overseas Central Banks Unlikely to Follow Fed Moves

Amid all the talk of Federal Reserve tapering, one thing is pretty clear: central banks worldwide–both in the developed world and in emerging markets–are, above all, determined to support asset prices. At least until inflation bites. Alan Mattich reports on MoneyBeat. Photo: Getty Images.

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VIDEO: Overseas Central Banks Unlikely to Follow Fed Moves

UK inflation rate falls to 2.8%

13 August 2013
Last updated at 05:45 ET

The rate of consumer prices index (CPI) inflation fell to 2.8% in July, down from 2.9% in June, according to the Office for National Statistics (ONS).

The Bank of England’s target for CPI inflation is 2%.

The drop in the rate of inflation came from lower air fares, discounting by clothing retailers and a reduction in the cost of leisure and cultural goods.

The rate of retail prices index (RPI) inflation also fell, to 3.1%, from 3.3% in June.

The RPI index is used to calculate many pensions, as well as inflation-linked government bonds. It is calculated differently, as it includes some housing costs and other items not included in CPI. It is typically higher than the CPI measure.

RPI is also used to calculate changes to rail ticket prices. Regulated fares – those that the government controls – will go up by inflation, as measured by the RPI for July, plus 1%.

The rail fare increase will come into effect in January.

‘Close to market expectations’

Clothing and footwear costs fell by 3.2%, as lower prices from summer sales took effect. In 2012, the fall from June to July was smaller, as retailers discounted earlier, following poor weather.

The cost of long-haul air fares rose at a slower rate than last year, which provided a large downward contribution to transport costs.

However, this was partially offset by rising petrol and diesel prices. They increased by an average of 0.7p and 0.4p per litre respectively between June and July, compared with a fall during the same period in 2012.

“Essentially, both the CPI and RPI reports are very close to market expectations,” said Investec’s Philip Shaw.

“On the CPI, the figures do suggest that the downtrend in inflation is in place and we think that there is a reasonable chance that inflation will be at the 2% target in spring next year.”

IHS’s chief European economist, Howard Archer said: “Looking ahead, CPI may yet touch 3% in the near term, given difficult near-term base effects and recently firmer oil prices.

“It should start heading gradually down towards the end of the year. Much will clearly depend on oil price developments.”

Inflation has remained above the Bank of England’s 2% target since December 2009. It reached a 14-month high in June 2013.

If the rate were to rise above 3%, the Bank of England governor, Mark Carney, would be required to write a letter of explanation to the Chancellor, George Osborne.

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UK inflation rate falls to 2.8%

VIDEO: ECB has easing bias, not out of ammunition

European Central Bankl Policymaker Peter Praet says the ECB could plan for more low interest rates, easing bias and cuts if the inflation outlook gets worse.

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VIDEO: ECB has easing bias, not out of ammunition

VIDEO: ECB has easing bias, not out of ammunition

European Central Bankl Policymaker Peter Praet says the ECB could plan for more low interest rates, easing bias and cuts if the inflation outlook gets worse.

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VIDEO: ECB has easing bias, not out of ammunition

VIDEO: Finance Latest News: Info Tech Company CDW Rises in Debut on the Nasdaq

Info tech company CDW rises in debut on the Nasdaq. Fed bond-buying could be more aggressive than new timeline: Dudley. Former CMS Head: Tie Doc Payment Reforms To Patient Outcomes

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VIDEO: Finance Latest News: Info Tech Company CDW Rises in Debut on the Nasdaq