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Cen bank reserve shifts not all that meets the eye
This article published Thursday 27 July by Reuters says a close look at IMF reserve data, and the dollar's moves in recent years, suggests central banks may not be undertaking conventional reserve diversification.
Mishkin to be sworn in after Aug 8 Fed meeting
Federal Reserve Governor-designate Frederic Mishkin will not take office in time to participate in the next Fed policy-setting meeting on 8 August, a Fed spokesman told Reuters on Thursday 27 July.
IMF to appoint Jonathan Palmer to new CIO role
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), announced Wednesday 26 July his intention to appoint Jonathan Palmer as Chief Information Officer (CIO) of the IMF and Associate Director of the Fund's Technology and General…
Comment: Developments in July
Here is a quick look back at development affecting central bank in month of July.
Fiscal convergence before entering the EMU
This European Central Bank Working Paper, published 27 July, addresses the question of whether a reduction of public deficits, such as imposed by the Maastricht fiscal criteria, is a necessary or useful step on the road to the adoption of the euro.
RBNZ paper on exchange rate stabilisation
The Reserve Bank of New Zealand Working Paper "How costly is exchange rate stabilisation for an inflation targeter? The case of Australia" quantifies the costs of mitigating exchange rate volatility within the context of a flexible inflation targeting…
MAS - Annual Report 2005-2006
According to the Monetary Authority of Singapore's Annual Report 2005, the Singapore economy grew by a robust 6.4% in 2005, exceeding earlier growth forecasts.
Bank of Sierra Leone - Annual Report 2005
According to the Bank of Sierra Leone's Annual Report 2005, the Sierra Leone economy recorded an impressive performance during the year 2005, with further consolidation of the gains achieved in macroeconomic stability and real growth.
Comment: Transparency in EU bond markets
As a rule, transparency in government activities, in regulation and in financial markets is encouraged and regarded as a positive thing. But when it comes to the way governments sell bonds, the authors of a recent study suggest that increasing…
IMF warns Poland over super-regulator
The International Monetary Fund has warned Poland that plans for a unified financial services supervisory agency could expose the system to political interference, the Financial Times reported.
PBOC's Yu to stay in post until replaced - report
Yu Yongding, whose term is due to end this month, will remain in his post until a replacement is found, an official in the news department of the People's Bank of China told Dow Jones on Thursday 27 July.
BoJ 'very careful' about drastic rate hike-Yosano
Japan's Economic and Fiscal Policy Minister Kaoru Yosano said Thursday 27 July the Bank of Japan is "very careful" about implementing credit tightening too drastically.
Minutes suggest smaller rate cuts in Brazil
Brazil's central bank said Thursday 27 July it sees a "low probability" of inflationary pressures in the coming quarters, but interest rate cuts may need to be smaller to avoid a pickup in inflation.
Report says US offers China IMF role deal
The US is quietly offering the prospect that it will help China secure more power in the International Monetary Fund (IMF) if Beijing lets the yuan appreciate further against the dollar, the Wall Street Journal reported.
Gentle Ben - Inside the head of the Fed
This recent article published by Time says that after a few early missteps, Federal Reserve chairman Ben Bernanke is hitting his stride, but the economy may not cooperate.
Central banking model for neither gods nor monkeys
According to this article by Paul de Grauwe, published Wednesday 26 July by the Financial Times, the first serious attempt to put central banking on a sound scientific basis failed miserably.
Japan - Effects of the quantitative easing policy
The Bank of Japan Working Paper "Effects of the quantitative easing policy: A survey of empirical analyses" surveys the empirical analyses that examine the effects of the Bank of Japan (BOJ)'s quantitative easing policy (QEP).
Central Bank of Seychelles - Annual Report 2005
According to the Central Bank of Seychelles Annual Report 2005, the year 2005 began on a downbeat note with economic prospects seriously dampened by the nationwide damage to productive capacity and infrastructure caused by the tsunami and flash floods of…
Chicago Fed National Activity Index, June 2006
The Chicago Fed National Activity Index for June 2006, published 26 July, was +0.34 in June, up from -0.14 in May. Three of the four broad categories of indicators made positive contributions to the index.
Federal Reserve Board - Beige Book, July 2006
The Federal Reserve published its July 2006 Beige Book survey on 26 July. The U.S. economy grew overall during June through mid-July but some individual regions reported slowing activity, and there were scattered reports of rising prices, the report said.
RBNZ leaves OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced Thursday 27 July that the Official Cash Rate (OCR) will remain unchanged at 7.25 per cent. Reserve bank governor Alan Bollard said: "Recent economic developments have been broadly in line with our June Monetary…
China's VP calls for stronger central bank
China's Vice Premier has called for the central bank to strengthen its political and ideological education as part of efforts to improve its financial services., according to a report on the People's Bank of China website.
Comment: RBI sounds warning call
The Reserve Bank of India (RBI) raised interest rates by 25 basis points on 25 July. The central bank warned that the higher oil prices were having a "permanent" effect. Rapid credit growth and rising risk-premia were also top of the list of concerns…
PBOC adviser says right time for yuan rise
An influential economist who advises the People's Bank of China told Reuters in an interview on Wednesday 26 July that China could afford to let the yuan appreciate further in line with market forces because robust economic growth will help to cushion…