balloons Tolga Akmen/ZumaPress

Инфляция, ФРС и общая картина

КЕМБРИДЖ – Инфляция – её причины и её связь с денежно-монетарной политикой и финансовыми кризисами – в этом году стала темой международной конференции представителей центральных банков и экономистов в Джексон-Хоуле (штат Вайоминг). Впрочем, хотя желание властей подготовиться к потенциальным будущим угрозам ценовой стабильности понятно, они не воспринимают эти тревоги в контексте последних инфляционных тенденций на глобальном уровне – или в исторической перспективе.

В 189 странах мира, для которых имеются необходимые данные, средняя инфляция в 2015 году установилась на уровне чуть ниже 2%. Это чуть меньше, чем в 2014 году, и в большинстве случаев ниже прогнозов Международного валютного фонда, сделанных в его апрельском «Обзоре мировой экономики». Как видно из графика ниже, инфляция в почти половине стран мира (развитых и развивающихся, больших и маленьких) сейчас не превышает 2% (то есть находится на уровне, который большинство центральных банков считает уровнем ценовой стабильности).


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