doi:10.1016/j.bir.2025.10.024engPeña, GuillermoA financial anomalyART-2025-147594A new measure denominated ‘Financial Anomaly Index’ (FAI) is proposed, showing the anomalies of recent past years in the financial sector mainly due to unconventional monetary policies. The present paper provides evidence that, when applying the proposed index, there is a negative association between FAI and inflation in the short run. The null hypothesis that no variable Granger-causes the other is rejected. Different techniques are used, including a recent panel data test. A robustness check using a System Generalized Method of Moments (GMM) is provided with a sample of 216 countries for 1960–20212025http://zaguan.unizar.es/record/16789910.1016/j.bir.2025.10.024http://zaguan.unizar.es/record/167899oai:zaguan.unizar.es:167899info:eu-repo/grantAgreement/ES/DGA/S23-20Rinfo:eu-repo/grantAgreement/ES/DGA/S39-23Rinfo:eu-repo/grantAgreement/ES/MCIU/PID2024-157255NB-I00info:eu-repo/grantAgreement/ES/UZ/JIUZ2022-CSJ-19Borsa Istanbul Review (2025), 100751 [28 pp.]byhttps://creativecommons.org/licenses/by/4.0/deed.esinfo:eu-repo/semantics/openAccess