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Fukui says Japan ready for monetary policy shift
Bank of Japan Governor Toshihiko Fukui told his Group of Seven counterparts that the central bank will move away from its monetary policy stance eventually, once the condition of sustainable rising consumer prices is met, Kyodo News Agency reported.
BNB implements new treasury management system
The Bulgarian National Bank has strengthened its accession strategy through the implementation of The Trema Suite as its new treasury management system covering Front-, Middle- and Back Office for their reserve management operations.
ECB and NCBs release joint statistics
On Tuesday the European Central Bank (ECB) and the national central banks (NCBs) of the euro area for the first time released joint tables of euro area statistics and their national breakdowns on their websites.
Bank of Canada raises interest rates
The Bank of Canada announced on Tuesday 6 December that it is raising its target for the overnight rate by one-quarter of one percentage point to 3 1/4 per cent. In a press release the bank suggested rates would rise further saying, "some further…
Fed's Olson on economic growth
In the speech 'Economic growth: Lessons from the Sioux Falls experience' given on 5 December Mark Olson of the Federal Reserve said the Fed can best promote a credit climate that fosters rural progress by maintaining an environment of low inflation.
Norges Bank Financial Stability Report No.2, 2005
The central bank of Norway, Norges Bank, has published its twice yearly Financial Stability Report 2/2005. "The short-term outlook for financial stability is regarded as satisfactory and somewhat better than half a year ago," said Governor Svein Gjedrem.
Richmond Fed's Economic Quarterly, Fall 2005
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Fall 2005. The latest issue includes the article 'Monetary policy and the term structure of interest rates'.
When will Asian central banks buy into gold?
This article published on Friday 2 December asks what would happen to the gold market if central banks in Asia decided to follow the recent trend and increase their gold reserves?
IMF Paper on capital account liberalization
The IMF Working Paper "Capital account liberalization, capital flow patterns, and policy responses in the EU's new member states" discusses the experience of the EU's eight new member countries (EU8) between 1995 and 2003 when the bulk of capital account…
Score so far is ECB, 1; Unsolicited advisers, 0
This article published on Thursday 1 December looks at the ECB's decision to raise interest rates at its most recent meeting, saying Europe's finance ministers would be better served by putting their own houses in order rather than telling Monsieur…
Comment: How will Shamshad Akhtar manage Pakistan?
Labouring under the onerous task to reconstruction following the terrible October 8 earthquake, which killed more than 40,000 people, and has left 3 million homeless, at least Pakistan has recently made notable economic progress.
G7 calls for further move on yuan flexibility
The G7 nations increased pressure on China to move to a more flexible currency regime on Saturday 3 December and asked the IMF to take a bigger role in offering advice on foreign exchange.
Central bank to replace BMA in Bahrain
A central bank with a BD500 million capital will be established in Manama to replace the Bahrain Monetary Agency to meet the Kingdom's comprehensive development plan for the banking sector, the Bahrain Tribune reported on Monday 5 December.
PBOC says China to deepen yuan rate reform
China will deepen yuan exchange rate reforms and further promote the convertibility of the currency in the capital account, the People's Bank of China (PBOC) said in answer to a series of questions published in the China Securities Journal.
ECB's Weber worries over credit growth
The European Central Bank's mid- to long-term strategy is at risk from the pace of credit growth in the euro zone and this danger must be countered, ECB Governing Council member Axel Weber was quoted as saying on Sunday 4 December.
Quaden says eurozone rates now 'appropriate'
Belgian National Bank governor Guy Quaden has called the level of European Central Bank interest rates "appropriate" for the emerging recovery of the eurozone.
ECB's Mersch says eurozone tax harmony not needed
Eurozone members aren't obliged to harmonize taxation practices as this isn't part and parcel of European Monetary Union, Luxembourg Central Bank Governor Yves Mersch said on Friday 2 December.
Ferguson on recent changes in household finances
In the speech 'Recent changes in household finances and home lending' given on 18 November Roger Ferguson of the Federal Reserve said U.S. financial regulators should study why blacks tend to get more higher-priced mortgage loans than non-Hispanic whites.
G7 on money laundering & terrorist finance
We are committed to fight against those who seek to abuse the international financial system for criminal or terrorist purposes, a statement released on Saturday 3 December following the G7 meeting in London said.
Statement by G7 fin mins & central bank governors
Overall global growth remains and should continue to be solid although slowed by high and volatile oil prices, according to the statement released on Saturday 3 December following the G7 meeting in London.
Fed's Greenspan on international imbalances
In the speech 'International imbalances' given on 2 December Alan Greenspan of the Federal Reserve warned about the urgency for the United States to tackle its huge budget deficits to preserve the global economy's health.
Deflation looms as China's economy cools off
According to this article published Wednesday 30 November, Chinese officials seem to be pulling off an orderly deflating of their nation's economic bubble. Along with this year's deftly handled 2.1 percent revaluation of the yuan, the feat suggests…
BoE's Large on monetary policy
In the speech 'Monetary policy: Significant issues of today' given on 1 December Andrew Large of the Bank of England said wage pressures in the UK could still get stoked up by the rapid rise in the price of oil even though there is currently very little…
Yuan is still pegged to the dollar
According to this article published Tuesday 29 November, there's a good chance that 2005 will be remembered in the financial markets as the year in which China blinked and made the yuan more flexible. This misconception should be snuffed out fast, it…