Central Banking staff
Follow Central Banking
Articles by Central Banking staff
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.
ECB's financial stability review
The European Central Bank published its biennial overview of sources of risk and vulnerability for financial stability in June.
HKMA's Yam: $3bn note is cost-efficient platform
Joseph Yam, chief executive of the Hong Kong Monetary Authority, said on 27 June that a new multi-currency medium term note programme issued by the Hong Kong Mortgage Corporation "will provide a platform for the HKMC to broaden its investor base and…
BoE's Gieve: London's City will prosper
Sir John Gieve, a deputy governor of the Bank of England, discussed London's growth as an international financial centre, its effect on financial innovation and the impact of growth in money and credit for the UK economy.
ECB independence not in question - Juncker
Jean-Claude Juncker, the president and minister of finance of Luxembourg, said on 27 June that the finance ministers of the eurozone do not question the independence of the ECB.
IMF worried about wealth fund obscurity
The International Monetary Fund has added its voice to the growing number of international financial institutions and public policy entities calling for greater transparency in the activities of sovereign wealth funds.
Inflationary pressures building - Fund
Inflationary pressures are "definitely building up" according to Simon Johnson, economic counsellor and director of research with the International Monetary Fund.
Brazil extends inflation target of 4.5% to 2009
The National Monetary Council of Brazil has extended the central bank's annual inflation target of 4.5% to 2009, which it says will provide policymakers with the "flexibility" to deal with unexpected price increases.
Norges Bank raises benchmark rate
In a widely predicted move, Norway's central bank raised its benchmark interest rate for the eleventh time in two years, moving the deposit rate up by a quarter point to 4.5%.
RBNZ may continue to sell its dollar - deputy gov
Grant Spencer, deputy governor of the Reserve Bank of New Zealand said on 27 June that the central bank may continue selling its domestic currency, now trading at its highest level in more than two decades.
RBA's Lowe on the 2007/08 review of payments
Speaking at the 4th International Consumer Credit Card Summit in Sydney, Philip Lowe set out the Payment System Board's plans for its review this year.
Fed to streamline cheque processing
As consumers shift to electronic payments, the Federal Reserve Banks set out plans to streamline cheque processing.
HKMA's Yam on renminbi bonds
Renminbi-denominated bonds in Hong Kong are part of a bigger picture for both Hong Kong and the Mainland, writes Joseph Yam.
Basel II and financial institution resiliency
Remarks by Nout Wellink, governor President of the Netherlands Bank and Chairman of the Basel Committee on Banking Supervision, at the "Risk Capital 2007" conference in Paris.
Bank of England losing economists to the City
The annual report of the Bank of England, published on 25 June, acknowledged concerns about the departure of some of the central bank's economists, seduced away from Threadneedle Street by the promise of higher pay in the financial service sector.
Fed under fire in Washington over supervision
In spite of the successes of his first 16 months in office, the relations of Ben Bernanke, the chairman of the US Federal Reserve, with the American Congress are deteriorating as the country's central bank is threatened with having some of its authority…
Chicago Fed's National Activity Index improves
The Federal Reserve Bank of Chicago announced on 25 June that its gauge of the national economy, the National Activity Index, although negative in May, was stronger than it was a month ago because as a number of indicators showed an improvement.
Bank of Israel leaves rates unchanged
The governor of the Bank of Israel, Stanley Fischer, announced on 25 June that the monetary rate for July 2007 will remain unchanged at 3.5%.
Slovakia keeps rates steady
All key interest rates were left unchanged by the board of the National Bank of Slovakia at its regular monthly meeting on 26 June.
Bank of Canada: Financial System Review
The Bank of Canada published, on 21 June, the latest issue of its biennial "Financial System Review."
IMF: Romania Article IV consultation
The IMF on 25 June released the staff report and public information notice regarding the conclusion of its Article IV consultation with Romania. The Fund projected 7% (baseline) growth of real GDP in 2007, down from 7.7% (preliminary estimate) in 2006.
ECB on euro bonds and derivatives
The European Central Bank (ECB) has published a report on "The euro bonds and derivatives markets" on 26 June.
BoE annual report
The Bank of England (BoE) published its 2007 annual report on 25 June. Highlights include a 77% rise in the bank's annual profit in the last financial year and the launch of the Adam Smith £20 note.