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Draghi hauls tarnished central bank into a new era
According to this article published Sunday 13 August by the Financial Times, Mario Draghi's goals at the Bank of Italy will be more openness, accountability and efficiency.
Lucas critique & the stability of empirical models
This Federal Reserve Bank of Richmond Working Paper, published 14 August, re-considers the empirical relevance of the Lucas critique using a DSGE sticky price model in which a weak central bank response to inflation generates equilibrium indeterminacy.
IMF paper on debt in emerging market crises
The IMF Working Paper "The level and composition of public sector debt in emerging market crises" examines the evolution of public sector debt levels and structures in 12 emerging market countries around the time of financial crises.
Bank of Japan Monthly Report, August 2006
The Bank of Japan published the English version of its August 2006 monthly report on Tuesday 15 August. In the report the BOJ maintained its upbeat assessment of the nation's economy, citing brisk capital investment and a pickup in private consumption.
Central Bank of Aruba - Annual Report 2005
According to the Central Bank of Aruba's Annual Report 2005, the Aruban economy expanded for the third consecutive year in 2005, albeit at a slower pace than in the previous year.
New PBOC adviser says 5% yuan gain okay
It would be acceptable to China for the yuan to appreciate by about 5% a year in the coming two years, a member of the People's Bank of China monetary policy committee, Fan Gang, said in an article published in Monday's 21st Century Business Herald.
BOJ steps in after Tokyo blackout
The Bank of Japan began supplying emergency funds Monday 14 August to the interbank market after a blackout halted fund settlements.
France's Breton says sharp ECB hikes not needed
France's Finance Minister Thierry Breton said in an interview there is no need for the European Central Bank to continue raising interest rates much above the current 3.0 pct level.
RBZ's Gono given increased protection
Reserve Bank of Zimbabwe governor Gideon Gono has been given increased security following a recent arson attack on his property, the Zimbabwe Standard reported.
SNB's Roth sees continued rate hikes
Swiss National Bank president Jean-Pierre Roth said in an interview with Swiss Sunday paper NZZ am Sonntag that the SNB will continue its policy of gradual interest rate hikes.
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia published its Third Quarter 2006 Survey of Professional Forecasters on 14 August. Growth in U.S. real output over the near term looks a bit slower and inflation a bit higher than they did just three months ago,…
Report says US considering inflation gauge change
The US Bureau of Labor Statistics is contemplating a change in the consumer price index that may have an impact on how markets and policymakers interpret inflation data, the Wall Street Journal reported on Monday 14 August, citing a government official.
Fed chief wants to improve communication
According to this article from the Associated press, published Sunday 13 August, Federal Reserve chairman Ben Bernanke wants to improve the central bank's communication, but it's not clear how he wants to do it.
South African Reserve Bank - Annual Report 2006
According to the South African Reserve Bank's Annual Report 2006, despite a growing current-account deficit, capital inflows enabled the Bank to further increase its levels of official foreign reserves.
ECB paper on the European corporate bond market
The ECB Occasional Paper "Implications for liquidity from innovation and transparency in the European corporate bond market" offers a new framework for the assessment of financial market liquidity and identifies two types: search liquidity and systemic…
San Francisco Fed's Economic Letter
The Federal Reserve Bank of San Francisco's Economic Letter "Would an inflation target help anchor U.S. inflation expectations?" published Friday 11 August says countries with explicit inflation targets have done a better job at anchoring inflation…
Bank of Albania - Annual Report 2005
According to the Bank of Albania's Annual Report 2005, the Albanian economy entered 2005 as part of an ongoing macroeconomic consolidation process.
Foreign buyers bring a host of challenges
According to this recent article by Bank of Mexico governor Guillermo Ortiz, published in The Banker magazine, the purchase of developing country banks by global banks can be mutually beneficial.
UK freezes bank accounts of terror suspects
The Bank of England said Friday 11 August it had frozen the accounts of 19 of the 24 men arrested in an alleged terror plot, and publicly released their names.
The curse of the parochial view
This article by Samuel Brittan of the Financial Times, published Friday 11 August, compares the reaction to the recent round of central bank interest rate decisions.
Zimbabwe's Gono warns of 'inflation dragon'
Reserve Bank of Zimbabwe chief Gideon Gono urged Friday 11 August a fight against the "inflation dragon," saying it still posed a major threat to the economy although the rate has fallen back to just under 1 000% recently.
BOJ's Fukui says rate hike not ruled out
Bank of Japan governor Toshihiko Fukui said Friday 11 August the central bank will "slowly" adjust interest rates while keeping a close eye on economic and price moves ahead.
Fan Gang to join PBOC committee
China's Cabinet said Friday 11 August it had appointed economist Fan Gang to the People's Bank of China's monetary policy committee, an advisory body to the central bank.
Being relevant may be IMF's mission impossible
According to this article from Bloomberg, published Wednesday 9 August, several years of global calm have left the IMF with a relevance problem.