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RBNZ announces role for Steve Anderson at IMF
The Reserve Bank of New Zealand announced Friday 19 January that the Head of Risk Assessment and Assurance, Steve Anderson, has been appointed to the International Monetary Fund's (IMF) External Audit Committee.
Taking personalities out of monetary policy
The Working Paper 'Taking personalities out of monetary policy decision making? Interactions, heterogeneity and committee decisions in the Bank of England's MPC' from the Centre for Dynamic Macroeconomic Analysis identifies significant interactions…
Russian central bank reserves drop
The Russian central bank said Thursday 18 January its gold and foreign currency reserves have dropped by 2.2 bln usd in one week, with levels standing at 301.7 bln usd on Jan 12.
CBK says economy to grow 6%
The Central Bank of Kenya said Thursday 18 January in its monthly report that the economy grew at the rate of 5.8 per cent last year and will grow at 6 per cent this year.
Fed adviser Reinhart to leave for AEI
Vincent Reinhart, one of Federal Reserve Chairman Ben Bernanke's top advisers on interest rates, is leaving the central bank, a statement said Wednesday 17 January.
EU's Almunia positive on 2007 inflation
European Union Monetary Affairs commissioner Joaquin Almunia said Thursday 18 January eurozone growth and inflation should be roughly in line with 2006 figures this year thanks largely due to a positive outlook for Germany.
Fukui says BoJ not bowing to pressure
The Bank of Japan will try to change interest rates slowly but has no timetable for such moves at present, central bank governor Toshihiko Fukui said Thursday 18 January.
SF Fed's Yellen on the U.S. economy in 2007
In the speech 'The U.S. economy in 2007: Prospects and puzzles' given on 17 January Janet Yellen of the Federal Reserve Bank of San Francisco said inflation is too high at the moment, but the current level of a key interest rate is high enough to bring…
Fed's Mishkin on house prices in monetary policy
In the speech 'The role of house prices in formulating monetary policy' given on 17 January Frederic Mishkin of the Federal Reserve said the Fed should not get involved with trying to burst or even slow the growth of housing bubbles because it would lose…
BoE's Besley on inflation and the service sector
In the speech 'Inflation and the service sector' given on 18 January Timothy Besley of the Bank of England said he expects limited spare capacity in the services sector to drive up wages in the wider economy.
Federal Reserve Board - Beige Book, January 2007
The Federal Reserve published its January 2007 Beige Book survey on Wednesday 17 January. The economy entered the new year in pretty good shape, with most parts of the country enjoying moderate growth and businesses increasing hiring, according to the…
ECB Monthly Bulletin, January 2007
The European Central Bank published its January 2007 Monthly Bulletin on Thursday 18 January. In the report the ECB said it will continue to monitor all economic developments very closely to ensure that euro zone inflation remains under control.
Europe's club of nations needs a rule change
According to this article by Zdenik Tma, governor of the Czech National Bank, first published by the Financial Times on 4 January, ERM-2 rules might have been perfectly legitimate in the past, but today they are outdated and -counter-productive.
Paper on monetary policy by committee
The Meeting Paper from the Society for Economic Dynamics 'The dynamic (in)efficiency of monetary policy by committee' develops a model where the value of the monetary policy instrument is selected by a heterogenous committee engaged in a dynamic voting…
ECB says pan-euro settlement system to cut costs
The European Central Bank said Tuesday 16 January it believes the implementation of an integrated securities settlement system in the euro zone could cut settlement costs by up to 90%.
Russia charges central banker murder suspect
Russian prosecutors on Wednesday 17 January charged a private banker with ordering the murder of Russian central bank first deputy chairman Andrei Kozlov.
BoT says cut rates to spur economy
The Bank of Thailand said Wednesday 17 January it cut its key interest rate for the first time in more than three years to spur the economy after currency controls.
Theater of the absurd surrounds BOJ's decision
According to this article from Bloomberg, published Wednesday 17 January, the Bank of Japan may be about to lose even more of the credibility is has worked to restore.
Basant Roi on the Bank of Mauritius' new HQ
In the speech 'Bank of Mauritius' new headquarters' given on 18 December R Basant Roi of the Bank of Mauritius said a particular feature of the new building is the wide range of special security provisions.
Fischer on the Bank of Israel's achievements
In the speech 'Bank of Israel's achievements' given on 2 January Stanley Fischer of the Bank of Israel said much of the recent criticism of the Bank of Israel is unjustified and petty, but some is justified, and we treat that part very seriously and are…
Rosenberg: Introducing own path for the repo rate
In the speech 'Riksbank to introduce own path for the repo rate' given on 17 January Irma Rosenberg of the Sveriges Riksbank said the central bank will start issuing its own repo rate forecasts when it publishes its predictions for inflation.
Riksbank names new head of financial stability
At its meeting on Tuesday 16 January, the Executive Board of the Swedish Riksbank appointed Mattias Persson the new head of the Financial Stability Department.
ECB paper 'Adjusting to the euro'
In this ECB Working Paper the authors argue that, for a group of converging economies of the European Union, participation in the euro area has been associated with easier access to financing by domestic economic agents.
Stark says ECB criticism has little support
European Central Bank board member Juergen Stark said in a speech on Wednesday 16 January that criticisms of the ECB by some politicians have very little support and are simply a reflection of some countries' failure to adapt to monetary union.