Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Chicago Fed National Activity Index, March 2007
The Chicago Fed National Activity Index for March 2007, published 23 April, was +0.01 in March, up from -0.11 in February.
Hungary's Simor wants clearer communication
The recently appointed governor of Hungary's central bank (NBH), Andras Simor, told a press conference on Monday 23 April that the NBH's Monetary Council must improve its communication.
Is the IADB becoming irrelevant?
Alternative lenders could make the Inter-American Development Bank increasingly obsolete if it does not find a niche for itself, this article from Latin America Press published Monday 23 April says.
Is Reddy ready to raise rates?
With inflation rising in India, this article from Moneycontrol asks whether the Reserve Bank of India will tighten policy when it meets on Tuesday 24 April.
Bini Smaghi pushing IMF reform
After the recent report on reforming the IMF and criticism of it from Mervyn King, among others, European Central Bank executive board member Lorenzo Bini Smaghi said in an article in the FT that emerging economies should accept that the IMF needs a…
Kate Barker reappointed to Bank of England's MPC
Kate Barker, who recently completed the Barker Review of Land Use Planning, was reappointed to the Bank of England's Monetary Policy Committee (MPC) for a further three-year term on Monday 23 April, becoming the first external member to serve a third…
China's Fan says FX can't solve imbalances alone
People's Bank of China adviser Fan Gang said Saturday 21 April that China's external imbalances will not be solved by varying the yuan exchange rate alone.
Garganas says press reports wrongly quote him
Bank of Greece governor and European Central Bank committee member Nicholas Garganas issued a press release Monday 23 April denying making a statement in press reports that a stronger euro may mean the ECB doesn't have to raise interest rates again.
Richmond's Lacker on inflation and unemployment
In the speech 'Inflation and unemployment' given on 11 April Jeffrey Lacker of the Federal Reserve Bank of Richmond said the centrality of inflation expectations in the modern Phillips curve reinforces the importance of consistency and credibility in…
SF Fed's Yellen on community development
In the speech 'Community development: Opportunities in low-income and minority communities' given on 19 April Janet Yellen of the Federal Reserve Bank of San Francisco said community development efforts still face gaps in access to credit and capital for…
Deutsche Bundesbank Monthly Report, March 2007
The Deutsche Bundesbank published the English version of its March 2007 Monthly Report on Friday 20 April. The report said the German economy continued to grow at a robust pace in the fourth quarter of 2006.
Fed's Mishkin on the U.S. economic outlook
In the speech 'The U.S. economic outlook' given on 20 April Frederic Mishkin of the Federal Reserve said 'elevated' core inflation should come down if US interest rates stay at current levels.
Debit card and cash usage: Cross-country analysis
This Chicago Fed Working Paper finds that while check usage declined and has almost disappeared in some countries, the stock of currency in circulation has not declined as fast.
King finally writes his 'Dear Gordon' letter
Bank of England governor Mervyn King had to explain to UK chancellor Gordon Brown this week why inflation had exceeded the bank's target. This article by John Berry of Bloomberg looks at King's failure to be boring.
Eurogroup's Juncker sees no panic on euro
Eurogroup President Jean-Claude Juncker said Friday 20 April there is no is no reason for over concern on the strength of the euro.
King 'determined' to get UK prices down-report
The Yorkshire Post reported Friday 20 April that Bank of England governor Mervyn King has said the central bank is get inflation back on track to its 2 percent target.
Trichet says FX rates should reflect fundamentals
European Central Bank president Jean-Claude Trichet said Friday 20 April that too much volatility in foreign exchange rates is undesirable and exchange rates should mirror economic fundamentals.
Risks to inflation projections remain, says Paramo
Jose Manuel Gonzalez-Paramo, European Central Bank governing council member, said Thursday 19 April that although risks to eurozone inflation projections remain, ECB monetary policy remains accommodative.
ECB's Weber says pressure on prices remains
European Central Bank governing council member Axel Weber told Handelsblatt newspaper in an interview published Friday 20 April that the ECB can't yet identify an end-point to its current cycle of interest rate increases.
Sweden's berg on increased financial integration
In the speech 'Increased financial integration - future challenges' given on 19 April Svante berg of the Sveriges Riksbank said financial integration is increasing rapidly in Europe, and this will lead to better conditions for economic growth, but that…
National Payment System South Africa 95 to 05
The National Payment System Department of the South African Reserve Bank published a document on Wednesday 18 April entitled The National Payment System in South Africa - 1995 to 2005.
Communicating monetary policy to financial markets
This European Central Bank article reviews the main effects of the ECB's external communication on monetary policy, with a focus on expert audiences in financial markets and the media.
Term structure transmission of monetary policy
Under bond-rate transmission of monetary policy, the authors of this Bank of Canada Working Paper show that a generalized Taylor Principle applies, in which the average anticipated path of policy responses to inflation is subject to a lower bound of…
Philadelphia Fed Business Outlook Survey, Apr 2007
According to the firms surveyed for the Philadelphia Fed's April 2007 Business Outlook Survey, activity in the region's manufacturing sector was basically unchanged again this month.