How Will the Pandemic and War Shape Future Monetary Policy?

After more than three decades of Great Moderation which saw inflation trending down in both advanced economies (AEs) and emerging markets (EMs), inflation has surged over the last year almost everywhere (Figure 1). The recent period is also unique because of the two tail-risk events that have played out: a global pandemic and Russia’s invasion of Ukraine. It is therefore natural to ask what lessons, if any, this period offers for the conduct of monetary policy in the future. I will cap the horizon at 5 years as that seems a reasonable horizon over which to speculate about the future.

How Will the Pandemic and War Shape Future Monetary Policy?

After more than three decades of Great Moderation which saw inflation trending down in both advanced economies (AEs) and emerging markets (EMs), inflation has surged over the last year almost everywhere (Figure 1). The recent period is also unique because of the two tail-risk events that have played out: a global pandemic and Russia’s invasion of Ukraine. It is therefore natural to ask what lessons, if any, this period offers for the conduct of monetary policy in the future. I will cap the horizon at 5 years as that seems a reasonable horizon over which to speculate about the future.

Chile: Request for an Arrangement Under the Flexible Credit Line and Cancellation of the Arrangement Under the Short-term Liquidity Line-Press Release; Staff Report; Staff Supplement and Statement by the Executive Director for Chile

Country Report No. 2022/283

Zimbabwe: Senior African Development Bank officials highlight private sector development, renewable energy opportunities

Senior African Development Bank officials recently undertook a three-day business mission to Zimbabwe. The bank’s vice president for power, energy, climate and green growth, Dr Kevin Kariuki, and its vice president for private sector, infrastructure and industrialization, Mr. Solomon Quaynor, both met with senior Zimbabwean government officials and business leaders in Harare last week.
Discussions covered developing the private sector and ways Zimbabwe could best tap its renewable energy resources.

The 8th Tokyo International Conference on African Development to shore up Japanese-Africa economic cooperation

The African Development Bank Group will play a key role in the eighth edition of the Tokyo International Conference on African Development (TICAD) taking place in the Tunisian capital, Tunis, this year as Japan—a long-time development partner of Africa—continues to lend its economic weight to the continent’s progress.
Running from 27 to 28 August, TICAD8 will bring together delegates from across the continent, including the African Development Bank Group.

Subscribe to