Template-Type: ReDIF-Paper 1.0
Author-Name: Ryan Niladri Banerjee
Author-X-Name-First: Ryan Niladri
Author-X-Name-Last: Banerjee
Author-Name: Fiorella De Fiore
Author-X-Name-First: Fiorella
Author-X-Name-Last: De Fiore
Author-Name: Marco Jacopo Lombardi
Author-X-Name-First: Marco Jacopo
Author-X-Name-Last: Lombardi
Author-Name: Giovanni Lombardo
Author-X-Name-First: Giovanni
Author-X-Name-Last: Lombardo
Title: Energy shocks and inflation: challenges for monetary policy
Abstract: The recent energy shock ranks among the most significant since the 1990s.Structural factors and initial conditions influence how energy shocks propagate into inflation – directly and through second-round effects. The appropriate monetary policy reaction depends on the persistence of the inflationary pressures as well as the magnitude of the growth impact, and it differs across economies. Uncertainty about these effects further complicates the policy challenge.
Length: 8 pages
Creation-Date: 2026-08-05
File-URL: https://www.bis.org/publ/bisbull131.pdf
File-Format: Application/pdf
File-Function: Full PDF document
File-URL: https://www.bis.org/publ/bisbull131.htm
File-Format: text/html
Number: 131
Handle: RePEc:bis:bisblt:131