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Volume 54, Issue 1 -2


Monetary Policy during Very Low Inflation

Komárek, Luboš

Year: 2004   Volume: 54   Issue: 1 -2   Pages: 64-67

Abstract: The article summarizes the main points discussed at the seminar on ?Monetary Policy during Very Low Inflation?, held by the Czech Economic Association in June 2003. There were two main speakers at the seminar. The first was Jan Frait (Czech National Bank), who summarized the main ideas of quantitative easing and the role of a central bank during a period of deflation combined with low nominal interest rates. He was also focused on Japan and on an evaluation of its monetary policy of the last ten years. The second speaker Miroslav Singer (PricewaterhouseCoopers) presented the main results from an IMF research into low inflation and its implication for the Czech economy. The presentation was largely based on material available in Czech Economic Association Bulletin no. 46, which can be found at www.cse.cz.

JEL classification: E31, E52, E58

Keywords: deflation; monetary policy; central bank; Japan


RePEc: n/a

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