Confirming these results, Medel, Pedersen and Pincheira (2014), using a sample of 31 OECD countries, report that the global inflation factor improves the inflation forecast for 50% of the countries in the case of headline inflation and for 40% in that of core inflation.
The best contribution central  2  BIS central bankers’ speeches  banks can make is to remain focused on their mandate, and to fulfil that mandate in the context of a sound institutional framework that ensures their independence.