Chapter 24

The following two articles are two related stories about the current hyperinflation in Zimbabwe. They link to Chapter 24 and especially Box 24.1 on page 552.
The Times, Thursday, August 2, 2007
www.timesonline.co.uk/tol/news/world/africa/article2182843.ece
Financial Times, Thursday, August 2, 2007
www.ft.com/cms/s/0/2ef0b216-40a4-11dc-9d0c-0000779fd2ac.html

The latest hyperinflation is happening currently in Zimbabwe where reports in February 2008 estimated the inflation rate to be around 26,000% per annum. The following is a report on the experience in this country:
The Times, 17 November 2007
www.timesonline.co.uk/tol/news/world/africa/article2886427.ece

Page 481-5 cover the implementation of monetary policy. (This also has links to Chapter 24). One feature of the UK system is that the Governor of the Bank of England has to write an open letter to the Chancellor of the Exchequer in the event that inflation exceeds its target. This has only happened once to date and this is reported in the articles below.
Financial Times, Wednesday, April 18, 2007
search.ft.com/ftArticle?queryText=Inflation+rise+puts+pressure+on+Bank&y=3&aje=true&x=4&id=070417011465

Many countries have experienced inflationary pressure in 2008, owing especially to high food and energy prices. The following is an analysis of pressures affecting UK non-food retailers.
Financial Times, Saturday, July 12, 2008
www.ft.com/cms/s/0/36bc0500-4fb6-11dd-b050-000077b07658.html

The combination of higher inflation and a slowing economy has caused a difficult dilemma for the monetary authorities. (This also links to the discussion of monetary policy making in Chapter 21):
Financial Times, Friday, July 11, 2008
www.ft.com/cms/s/0/7d42e1ce-4edf-11dd-ba7c-000077b07658.html
The issues were similar in the US:
The Economist, Thursday, May 1, 2008
www.economist.com/finance/displaystory.cfm?story_id=11294547

Latest monetary policy assessments are also relevant to Chapter 21 on monetary policy:
Financial Times, Wednesday, August 14, 2008
www.ft.com/cms/s/0/a8e0d6da-699f-11dd-91bd-0000779fd18c.html

Linking to the inflation chapter (24) to growth (26) and the policy on open economies (23) is an analysis of the state of the world economy and two scenarios about where it might go next:
Financial Times, Thursday, August 15, 2008
www.ft.com/cms/s/0/19c525f2-6af6-11dd-b613-0000779fd18c.html

View print version

Oxford University Press, Online Resource Centre, Chapter 24.

Chapter 24