Monetary policy response in emerging market economies: why was it different this time?

During the Covid-19-induced financial stress in March 2020, central banks in emerging market economies (EMEs) departed from their monetary policy playbook by cutting rates even in the face of sharp currency depreciations and massive capital outflows. Two factors were at play. First, the cyclical position of EMEs gave more room for easing of monetary policy, while structural changes improved the anchoring of inflation expectations and kept a lid on exchange rate pass-through.

Fundamental but Forgotten - the Early Years Sector

New guidance from Public Health England provides more evidence of the interconnected nature of health, care and education, and of the fundamental role early years practitioners play in supporting young children’s speech, language and communication development.  But with the early years sector struggling to survive in the wake of the pandemic, many children may miss out on this much needed support.  Where is the support for the early years sector?

The Lockdown Weighted inflation CPILW for September 2020

This blog is written by NIESR Fellow Huw Dixon. Any opinions expressed in the paper are those of the author, and do not necessarily reflect the views of the Institute
The CPIH measure of inflation has increased to 0.7% in September 2020, from its August level of 0.5%. The CPILW decreased slightly to 0.9% from the August value of 1.0%.


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