The McCallum Rule is a monetary policy theory and formula describing the relationship between the monetary base and nominal GDP growth.

GMB was essentially flat MoM but has fallen by $977 billion or 3.9% over the last twelve months. Recent economic data show that inflation continues to steadily moderate with recent PCE core coming in ...

Recent research has identified periods when the Federal Reserve intentionally acted to slow inflation when it exceeded desired levels. The success of these disinflation attempts reveals the extent of ...

A salient feature of the post-COVID inflation surge is that economic activity has remained resilient despite unfavorable supply-side developments. We develop a macroeconomic model with nonlinear price ...

Given the recent surge in inflation and the resulting sharp monetary tightening, this note asks whether bank profits are exposed to inflation. While most banks tend to match income and expense ...

ALMATY – The National Bank of Kazakhstan (NBK) has decided to keep its base interest rate at 18%, citing persistent inflationary pressures and elevated uncertainty in both domestic and external ...

Good ideas don’t always outcompete bad ones. But willful foolishness usually has a cost. So it is with modern monetary theory. Ironically, this basket of economic fallacies, embraced by policymakers ...

Since February, 2025, the MPC has reduced the repo rate by 125 bps to aid growth, with a 25 bps cut each in February and ...

In line with the consensus expectations, the National Bank of Romania (BNR) on January 19 kept the monetary policy rate at ...

The Economic Survey 2026 predicts India's inflation will be higher in FY27 than FY26, but remains within the RBI's target.

Global Monetary Base grew by 0.5% MoM but has fallen by $580 billion or 2.3% over the last twelve months. We expect the GMB will stabilize over the next quarter and start growing in 2025. If the GMB ...