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NZ lawmakers to review monetary policy framework
Lawmakers in New Zealand are set to consider new measures to widen the focus on monetary policy and provide the central bank with more policymaking tools.
Korea's CPI rises 2.5% in a year
South Korea's consumer price index (CPI) rose to within the central bank's inflation target in June, according to preliminary figures from the country's National Statistical Office.
Nepal's central bank governor "suspended"
Bijay Nath Bhattarai, the governor and chairman of Nepal Rastra Bank, the central bank of Nepal, is reported to have been suspended from these positions.
Olmert ends Bank of Israel's wage dispute
Ehud Olmert, the prime minister of Israel, managed to push through a new wage agreement for the Bank of Israel before relinquishing the finance ministry role he has held in a temporary capacity.
Business sentiment remains upbeat in Japan
The latest edition of the Bank of Japan's widely-followed Tankan business sentiment poll, published on 2 July, shows that businesses remain upbeat about the country's economic prospects.
Another rate hike in prospect in Poland
The Polish finance ministry has forecast that inflation in June will top the central bank's 2.5% target for the first time in over two years, making a rate rise more likely to ease growing price pressures in the fast-growing economy.
Chinense membership of FATF
The Financial Action Task Force has given approval for China to be a full member of the Financial Action Task Force on Money Laundering This is expected to assist the efforts of its banks to expand overseas.
BoC paper: fiscal and monetary interdependence
A new working paper by the Bank of Canada studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level.
Thailand governor cool on currency risks
Bank of Thailand governor Tarisa Watanagase says she dioes not expect another currency crisis like the one which hit the country ten years ago.
Eurozone business confidence remains high
Recovery in the eurozone remains on track and economic confidence dipped only slightly this month, according to the European Commission. Inflation remained steady at 1.9% in June, within the ECB's target range, according to a separate estimate by…
Minister hints at Japanese wealth fund
Japan's Financial Services Minister said on 29 June that the country should debate whether to set up a fund to manage its foreign currency reserves.
Surprise as de Rato resigns from IMF
Rodrigo de Rato, the managing director of the International Monetary Fund, has announced that he would leave the Fund after its next meetings in October. This will be three years after his appointment and before the end of the normal five-year term.
ECB's Gonzalez-Paramo on financial stability
In this speech delivered in Istanbul on 28 June 2007, Jose Manuel Gonzalez-Paramo, a member of the Executive Board of the European Central Bank, admits that the "analytical foundations are relatively new, as evidenced by the absence of a universally…
New ECB Research Bulletin
The European Central Bank released it latest Research Bulletin on 29 June. The bulletin contains articles on the international carry trade, financial integration and capital flows in the new EU member states and productivity growth in the euro area.
IMF: global imbalances matter to Europe
According to an IMF working paper published in June, although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world mean that it will still be affected by a…
Shift to e-payments leads to Fed job cuts
The US Federal Reserve reductions in cheque processing is likely to result in more than 210 jobs being cut at the Minneapolis Fed, as consumers shift from paper checks to electronic payments.
PBoC upgrades growth and inflation forecast
The research bureau of the People's Bank of China says the country's economy is expected to grow 10.8% this year, the fastest rate in over ten years.
Albanian rates up by 0.25%
Albania's central bank raised interest rates by 25 basis points to 5.75% on 28 June. The central bank's governor, Adrian Fullani, said the risk of inflation had grown stronger lately, prompting the central bank's board of directors to act.
Brazilian CB raises growth outlook
Brazil's central bank raised its economic growth forecast as 16 consecutive rate cuts and low inflation fuels consumer spending.
Czech rates on hold, hikes to follow
The Czech central bank voted 4-1 to keep interest rates on hold at 2.75% on 28 June during its monthly policy meeting. Central bank chief Zdenek Tuma said there was every reason to increase borrowing costs, but that it had not been vital that the central…
Bank of England MPC members explain decisions
The testimonies of individual members of the Bank of England's rate-setting monetary policy committee (MPC) before the Treasury select committees on 28 June, provided some clues as to the timing of further tightening.
Unexpected rate hike in Poland
Poland's central bank surprised market with a second rate hike for this year on 28 June, citing concerns that wage growth will force companies to boost prices.
Fed keeps rates at 5.25% for 12th month
The Federal Reserve held interest rates steady 28 June, citing "modest" improvements in recent inflation readings. Fed rates have now remained at 5.25% for 12 months.
Mboweni on the commodity boom
Although higher commodity prices have a positive affect on the economy, they create various problems and challenges for economic management, explained Tito Mboweni, governor of South Africa's central bank.