Analyser: Räntorna stiger med rock’n’roll-kandidaten

In economics, a Taylor rule is a reduced form approximation of the responsiveness of the nominal interest rate, as set by the central bank, to changes in inflation, output, or other economic conditions. In particular, the rule describes how, for each one-percent increase in inflation, the central bank tends to raise the nominal interest rate by more than one percentage point. This aspect of the rule is often called the Taylor principle. It should be noted that while such rules may serve as concise, descriptive proxies for central bank policy, and are not explicitly proscriptively considered by central banks when setting nominal rates. The rule was first proposed by John B. Taylor, and simultaneously by Dale W. Henderson and Warwick McKibbin in 1993. It is intended to foster price stability by systematically reducing uncertainty and increasing the credibility of future actions by the central bank. It may also avoid the inefficiencies of time inconsistency from the exercise of discretionary policy. The Taylor rule synthesized, and provided a compromise between, competing schools of economics thought in a language devoid of rhetorical passion. Although many issues remain unresolved and views still differ about how the Taylor rule can best be applied in practice, research shows that the rule has advanced the practice of central banking.

Räntehök och ränteduva eller enbart hök och duva, är beteckningar på penningpolitisk beslutsfattare som skiljer sig åt i hur de förhåller sig till styrräntan, där höken föredrar att höja och duvan föredrar att sänka räntan. Begreppen används ofta av externa bedömare som delar in ledamöterna i riksbankens i räntehökar respektive ränteduvor. Uttrycket kommer ursprungligen från amerikanska kongressen där war hawk (krigshök) respektive peace dove (fredsduva) åsyftar de olika viljorna att gå in i krig respektive hålla sig utanför och försöka lösa problemet med andra medel.