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Greenspan to become adviser to UK Chancellor
The UK Treasury on Wednesday 1 February announced that Dr Alan Greenspan KBE has agreed to be Honorary Adviser to the Chancellor of the Exchequer Gordon Brown.
Bernanke becomes Fed chairman, but without a seat
Alan Greenspan celebrated his final day as Federal Reserve chairman with a lunch of grilled salmon and chocolate cake. He also received various gifts from his colleagues, including his boardroom chair.
Comment: Bernanke's options kept open
Subtle changes in the wording of the Fed's latest monetary policy statement leaves new chairman, Ben Bernanke, with more wiggle-room than may have been expected. Markets will become very sensitive to incoming data and will look to Bernanke's Capitol Hill…
Fed raises rates, drops 'measured' stance
The Federal Open Market Committee decided on Tuesday to raise its target for the federal funds rate by 25 basis points to 4-1/2 percent. In its statement the FOMC dropped "is likely" and replaced it with "may," regarding further policy firming.
Ben Bernanke sworn in as Fed chairman
Ben Bernanke on Wednesday 1 February became the fourteenth Chairman of the Board of Governors of the Federal Reserve System and the Chairman of the Federal Open Market Committee, succeeding Alan Greenspan.
Survey of foreign exchange settlement risk
The Committee on Payment and Settlement Systems said Wednesday it will carry out a survey of how banks and other selected institutions manage the risks they can incur when settling foreign exchange transactions.
Bond market bubble?
It is time to push beyond the "global savings glut" argument and the closely related "excess global liquidity" argument to explain the extraordinarily low level of both real and nominal long-term interest rates, according to this article published on…
Bernanke inherits an experienced Fed staff
Alan Greenspan's legacy includes a Fed full of battle-tested veterans who helped him calm the markets and steer the U.S. economy through September 11, the 1987 stock market crash, the international currency crises of the 1990s and two recessions,…
What's the future for Lebanon's central bank?
According to this article published on Monday 30 January, changes need to be made soon at the Lebanese central bank to reflect developments in economic theory and in applied central banking.
Central Bank of China - Annual Report 2004
According to the Central Bank of China's Annual Report 2004, Taiwan's external trade performed exceptionally well in 2004, driven by the global economic recovery.
IMF's Krueger on the pursuit of stability & growth
In the speech 'A "continuous adventure": The pursuit of stability and growth in modern economies' given on 30 January Anne Krueger of the IMF said low inflation is a vital element in any macroeconomic framework, and much progress has been made.
Comment: Nigeria's CB wins praise
In the statement accompanying its BB minus long-term credit rating for Nigeria, the rating agency Fitch this week applauded policymakers' "strong commitment to economic reform", including "measures to rationalise the banking system" implemented by the…
Bank of England given BCCI payout
The liquidator of Bank of Credit and Commerce International made an initial £73m payment to the Bank of England on Monday 30 January for legal costs incurred in its successful defence against the abandoned "misfeasance" claim in the High Court.
Senate votes on Bernanke, FOMC meets
The US Senate is aiming for a midday vote on the nomination of White House adviser Ben Bernanke to be chairman of the U.S. Federal Reserve, Senate leadership aides were quoted by Reuters as saying on Tuesday 31 January.
Bush to nominate Lazear to head CEA
US President George W. Bush has picked a business school professor, Edward Lazear, to be the chairman of his Council of Economic Advisers, the White House announced late Monday 30 January.
PBOC chief urges social security reforms
The People's Bank of China's Governor, Zhou Xiaochuan, has called for reformation of the country's social security system in order to reduce savings.
Arrests follow attack on Soludo's father
Police in Nigeria have arrested two men following an attack on the father of the governor of the Central Bank of Nigeria.
IMF approves US$10.2m for Central African Republic
The Executive Board of the International Monetary Fund said on Monday 30 January that it has approved a credit of SDR 6.962 million (about US$10.2 million) in Emergency Post-Conflict Assistance for the Central African Republic.
RBNZ to raise settlement cash level temporarily
The Reserve Bank of New Zealand will temporarily raise the Settlement Cash Level (SCL) from its current level of $20 million to $500 million, for value date 2 February 2006.
BoE's Nickell on monetary policy
In the speech 'Monetary policy, demand and inflation' given on 31 January Stephen Nickell of the Bank of England set out his reasons for wanting an interest rate cut this month and last.
Bernanke - Be tough, independent, raise rates
As Ben Bernanke takes over the reins at the Federal Reserve after his all-but-certain confirmation on Tuesday 31 January , Washington is bracing itself, according to this article published Monday, for the kind of noisy Fed transition it hasn't…
Greenspan critics are off base on his legacy
As Alan Greenspan prepares to relinquish the Federal Reserve chairmanship on Tuesday 31 January, a cottage industry has sprung up questioning the strength of his legacy. Most of the criticism is off base, according to this article published on Monday.
Norway's Bergo on monetary policy
In the speech 'Projections, uncertainty and choice of interest rate assumption in monetary policy' given on 27 January Jarle Bergo of Norges Bank said assessing uncertainty is an important part of the central bank's communication strategy.
Bank of Tanzania - Annual Report 2004-05
According to the Bank of Tanzania's Annual Report 2004-05, the economy registered a robust growth rate of 6.7 percent in 2004.