Inflation target - Revision history

imported>Doug Williamson: Expand to identify inflation measures.

2022-01-23T06:33:04Z

Expand to identify inflation measures.

← Older revision		Revision as of 06:33, 23 January 2022
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	Guidance from a central government to an operationally independent central bank, in relation to inflation in its jurisdiction.		Guidance from a central government to an operationally independent central bank, in relation to inflation in its jurisdiction.

			In the UK, the related measure of inflation is the Consumer Prices Index (CPI).


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	2.		2.

	Similar goals and measures in other jurisdictions.		Similar goals and measures for central banks in other jurisdictions.

			For the European Central Bank (ECB), the related inflation measure is the Harmonised index of consumer prices (HICP).


	:<span style="color:#4B0082">'''''~~European Central Bank~~'s monetary policy strategy'''''</span>		:<span style="color:#4B0082">'''''ECB's monetary policy strategy'''''</span>

	:"The Governing Council [of the ECB] considers that price stability is best maintained by aiming for a 2% inflation target over the medium term.		:"The Governing Council [of the ECB] considers that price stability is best maintained by aiming for a 2% inflation target over the medium term.
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	* [[Bank of England]]		* [[Bank of England]]
	* [[Central bank independence]]		* [[Central bank independence]]
			* [[Consumer Prices Index]] (CPI)
	* [[Effective lower bound]]		* [[Effective lower bound]]
	* [[European Central Bank]] (ECB)		* [[European Central Bank]] (ECB)
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	* [[Forward guidance]]		* [[Forward guidance]]
	* [[Flexible inflation targeting]]		* [[Flexible inflation targeting]]
			* [[Harmonised index of consumer prices]] (HICP)
	* [[Inflation]]		* [[Inflation]]
	* [[Jurisdiction]]		* [[Jurisdiction]]

imported>Doug Williamson: Add date.

2022-01-23T05:47:03Z

Add date.

← Older revision		Revision as of 05:47, 23 January 2022
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	:If we miss the inflation target by more than 1 percentage point either side of the target, we must tell the Government why."		:If we miss the inflation target by more than 1 percentage point either side of the target, we must tell the Government why."

	:''Bank of England''.		:''Bank of England - 2021''.

imported>Doug Williamson: Add heading.

2022-01-23T05:46:34Z

Add heading.

← Older revision		Revision as of 05:46, 23 January 2022
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	Guidance from a central government to an operationally independent central bank, in relation to inflation in its jurisdiction.		Guidance from a central government to an operationally independent central bank, in relation to inflation in its jurisdiction.


			:<span style="color:#4B0082">'''''Inflation target - UK - Bank of England'''''</span>

	:"To keep inflation low and stable, the Government sets us an inflation target of 2%. This helps everyone plan for the future.		:"To keep inflation low and stable, the Government sets us an inflation target of 2%. This helps everyone plan for the future.

imported>Doug Williamson: Add link.

2022-01-23T05:45:10Z

Add link.

← Older revision		Revision as of 05:45, 23 January 2022
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	1. ''UK - Bank of England''.		1. ''UK - Bank of England''.

			Guidance from a central government to an operationally independent central bank, in relation to inflation in its jurisdiction.


	:"To keep inflation low and stable, the Government sets us an inflation target of 2%. This helps everyone plan for the future.		:"To keep inflation low and stable, the Government sets us an inflation target of 2%. This helps everyone plan for the future.
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	* [[Asset purchases]]		* [[Asset purchases]]
	* [[Bank of England]]		* [[Bank of England]]
			* [[Central bank independence]]
	* [[Effective lower bound]]		* [[Effective lower bound]]
	* [[European Central Bank]] (ECB)		* [[European Central Bank]] (ECB)
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	* [[Flexible inflation targeting]]		* [[Flexible inflation targeting]]
	* [[Inflation]]		* [[Inflation]]
			* [[Jurisdiction]]
	* [[Longer-term refinancing operations]]		* [[Longer-term refinancing operations]]
	* [[Monetary policy]]		* [[Monetary policy]]

imported>Doug Williamson: Remove date detail.

2022-01-23T05:40:49Z

Remove date detail.

← Older revision		Revision as of 05:40, 23 January 2022
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	:If we miss the inflation target by more than 1 percentage point either side of the target, we must tell the Government why."		:If we miss the inflation target by more than 1 percentage point either side of the target, we must tell the Government why."

	:''Bank of England~~, June 2020~~''.		:''Bank of England''.


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	:Other instruments, such as forward guidance, asset purchases and longer-term refinancing operations, that over the past decade have helped mitigate the limitations generated by the lower bound on nominal interest rates will remain an integral part of the ECB’s toolkit, to be used as appropriate."		:Other instruments, such as forward guidance, asset purchases and longer-term refinancing operations, that over the past decade have helped mitigate the limitations generated by the lower bound on nominal interest rates will remain an integral part of the ECB’s toolkit, to be used as appropriate."

	:''ECB press release - ~~July~~ 2021.''		:''ECB press release - 2021.''

imported>Doug Williamson: Layout.

2022-01-23T05:39:46Z

Layout.

← Older revision		Revision as of 05:39, 23 January 2022
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	:Other instruments, such as forward guidance, asset purchases and longer-term refinancing operations, that over the past decade have helped mitigate the limitations generated by the lower bound on nominal interest rates will remain an integral part of the ECB’s toolkit, to be used as appropriate."		:Other instruments, such as forward guidance, asset purchases and longer-term refinancing operations, that over the past decade have helped mitigate the limitations generated by the lower bound on nominal interest rates will remain an integral part of the ECB’s toolkit, to be used as appropriate."

	''ECB press release - July 2021.''		:''ECB press release - July 2021.''

imported>Doug Williamson: Add quote - source - ECB - https://www.ecb.europa.eu/press/pr/date/2021/html/ecb.pr210708~dc78cc4b0d.en.html

2022-01-23T05:39:23Z

Add quote - source - ECB - https://www.ecb.europa.eu/press/pr/date/2021/html/ecb.pr210708~dc78cc4b0d.en.html

← Older revision		Revision as of 05:39, 23 January 2022
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	Similar goals and measures in other jurisdictions.		Similar goals and measures in other jurisdictions.


			:<span style="color:#4B0082">'''''European Central Bank's monetary policy strategy'''''</span>

			:"The Governing Council [of the ECB] considers that price stability is best maintained by aiming for a 2% inflation target over the medium term.

			:This target is symmetric, meaning negative and positive deviations of inflation from the target are equally undesirable.

			:When the economy is operating close to the lower bound on nominal interest rates, it requires especially forceful or persistent monetary policy action to avoid negative deviations from the inflation target becoming entrenched.

			:This may also imply a transitory period in which inflation is moderately above target.


			:The Governing Council also confirmed that the set of ECB interest rates remains the primary monetary policy instrument.

			:Other instruments, such as forward guidance, asset purchases and longer-term refinancing operations, that over the past decade have helped mitigate the limitations generated by the lower bound on nominal interest rates will remain an integral part of the ECB’s toolkit, to be used as appropriate."

			''ECB press release - July 2021.''


	== See also ==		== See also ==
			* [[Asset purchases]]
	* [[Bank of England]]		* [[Bank of England]]
			* [[Effective lower bound]]
			* [[European Central Bank]] (ECB)
	* [[Financial stability]]		* [[Financial stability]]
			* [[Forward guidance]]
			* [[Flexible inflation targeting]]
	* [[Inflation]]		* [[Inflation]]
			* [[Longer-term refinancing operations]]
	* [[Monetary policy]]		* [[Monetary policy]]
	* [[Monetary Policy Committee]]		* [[Monetary Policy Committee]]
	* [[Monetary Policy Report]]		* [[Monetary Policy Report]]
	* [[Official Bank Rate]]		* [[Official Bank Rate]]
			* [[Zero lower bound]]

imported>Doug Williamson: Layout.

2022-01-22T17:00:25Z

Layout.

← Older revision		Revision as of 17:00, 22 January 2022
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	:If we miss the inflation target by more than 1 percentage point either side of the target, we must tell the Government why."		:If we miss the inflation target by more than 1 percentage point either side of the target, we must tell the Government why."

	:''Bank of England, June 2020''		:''Bank of England, June 2020''.

imported>Doug Williamson: Add link.

2022-01-21T01:54:59Z

Add link.

← Older revision		Revision as of 01:54, 21 January 2022
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	* [[Monetary Policy Report]]		* [[Monetary Policy Report]]
	* [[Official Bank Rate]]		* [[Official Bank Rate]]


			==External link==
			*[https://www.bankofengland.co.uk/monetary-policy/inflation The UK's inflation target - Bank of England]

	[[Category:Accounting,_tax_and_regulation]]		[[Category:Accounting,_tax_and_regulation]]

imported>Doug Williamson: Edit links.

2020-06-09T15:34:16Z

Edit links.

← Older revision		Revision as of 15:34, 9 June 2020
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	* [[Inflation]]		* [[Inflation]]
	* [[Monetary policy]]		* [[Monetary policy]]
			* [[Monetary Policy Committee]]
	* [[Monetary Policy Report]]		* [[Monetary Policy Report]]
	* [[MPC]]
	* [[Official Bank Rate]]		* [[Official Bank Rate]]