Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing …

standard New-Keynesian model, and may even inflate the equity premium. Second, asset-price movements improve the inflation …-output trade-off so that average output can rise without increasing much average inflation. Finally, a strict inflation …-targeting policy may result in lower average welfare than a more flexible inflation-targeting policy, which instead increases the …

these ideas by looking at the effect of central bank independence on inflation. The evidence is consistent with the notion … that central bank reforms have reduced inflation in societies with intermediate constraints and have had no or little … with the seesaw effect, in countries where central bank reforms reduce inflation, government expenditure tends to increase …

continued above-target inflation readings, the BoE made a first move to raise the policy rate in December. Macroprudential …

a while. However, inflation-despite increasing significantly in recent months due to transitory factors-is projected to … moderate during 2022 and remain below the ECB's inflation target over the medium term. Uncertainty surrounding the outlook …