Descriptions
SEACEN Online Seminar Series, WB01/2022:
Monetary policy, Relative Prices and Inflation Control: Flexibility Born Out of Success
This online event is scheduled for 28 February 2022. 11 AM MYT (GMT+8)
This seminar will be hosted on The SEACEN Centre Webex platform.
Registrants will receive the Webex link separately after completing this form.
Speaker: Dora Xia (Senior Economist, Monetary and Economic Department, Office for Asia and the Pacific)
About This Seminar:
The achievement of low and stable inflation on the back of credible monetary policy frameworks has coincided with a sharp and major drop in the co-movement of prices across finely disaggregated sectors of the economy. In other words, sector-specific price developments have become much more prominent in driving fluctuations in aggregate price indices. In addition, changes in the stance of monetary policy in this environment affect a rather narrow set of prices, limiting the policy’s ability to steer inflation within tight ranges as well as the desirability of doing so. All told, this highlights the importance of flexibility in the pursuit of inflation targets within a credible policy regime.
Link to paper: https://www.bis.org/publ/qtrpdf/r_qt2109b.pdf
