Central Banking staff
Follow Central Banking
Articles by Central Banking staff
FSI Award - 2006 competition rules announced
The Financial Stability Institute (FSI) announced on Tuesday 18 October that it will give the 2006 FSI Award to the author of the best paper submitted.
IMF's Rato welcomes GCC monetary union progress
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), gave a statement on Tuesday 18 October following a meeting in Jeddah, Saudi Arabia, with the finance ministers and central bank governors of the six-nation Gulf Cooperation…
Bank of England's MPC voted 9-0 to hold rates
Minutes from the Bank of England's 5 and 6 October meeting, released 19 October, showed that all nine members of the Monetary Policy Committee voted to keep interest rates at 4.5 percent this month, not even discussing arguments for a cut.
Fed's Greenspan on energy
In the speech 'Energy' given on 17 October Alan Greenspan of the Federal Reserve said the sharp run-up in energy prices following the shutdown of Gulf Coast production facilities was an "an accident waiting to happen".
Norges Bank, Economic Bulletin, October 2005
Norges Bank, the central bank of Norway, has published its October 2005 Economic Bulletin. The latest Bulletin includes the article 'House prices, equity prices, investment and credit - what do they tell us about banking crises?'
Monetary policy predictability in the euro area
This Norges Bank Working Paper evaluates the ability of market participants to anticipate monetary policy decisions in the euro area and in 13 other countries.
Fed's Ferguson on economic outlook for the US
In the speech 'Economic outlook for the United States' given on 18 October Roger Ferguson of the Federal Reserve said the Federal Reserve is prepared to move away from its "measured" pace of rate hikes if necessary, but it probably won't be.
RBA's Stevens on central bank independence
In the speech 'Governance arrangements for effective public financial policies: A central banker's perspective' given on 19 October Glenn Stevens of the RBA said that central banks need to operate without political interference in the their day-to-day…
Comment: Oil's well that ends well?
In an increasingly integrated world, the economic fortunes of other countries and the health of the global economy weigh heavily on the minds of domestic policymakers. One of the most important "external" issues for monetary policymakers to deal with is…
Fed's Lacker undecided on credit product boom
An explosion in the range of credit products available to Americans creates benefits for the economy but also creates risks for financially inexperienced borrowers, Richmond Fed chief Jeffrey Lacker said on Monday 17 October.
Iwata says deflation easing but no policy move yet
Bank of Japan Deputy Governor Kazumasa Iwata said on Tuesday 18 October that although the economy is emerging from deflation, the BOJ will maintain its ultra-loose monetary policy for now.
Issing: ECB will act if inflation 'out of control'
European Central Bank chief economist Otmar Issing said in an interview that the ECB will not hesitate to raise interest rates if medium-term inflation pressures increase.
ECB not yet ready to give Fazio 'dialogue' details
European Central Bank vice-president Lucas Papademos said the ECB is not yet prepared to discuss details of its "dialogue" with Bank of Italy governor Antonio Fazio.
ECB to act decisively if needed says Trichet
European Central Bank president Jean-Claude Trichet said in a letter to a member of the European Parliament that the ECB would 'act decisively' if the rise in oil prices pushed domestic prices higher.
Bank of Canada raises interest rates
The Bank of Canada announced on Tuesday 18 October that it is raising its main interest rate by 0.25% to 3%. The Bank noted there have been significant movements in energy prices and the Canadian dollar has traded in a higher range against the U.S…
EU banking sector stability report
The European Central Bank published a report on EU banking sector stability, prepared by the Banking Supervision Committee of the European System of Central Banks on 17 October.
BoE's Lomax on UK monetary policy
In the speech 'UK monetary policy: The international context' given on 17 October Rachel Lomax of the Bank of England said the central bank has to be careful not to dislodge inflation expectations at a time when the outlook for world oil prices remains…
Fed's Santomero on the evolving role of the FOMC
In the speech 'The evolving role of the FOMC: An insider's perspective on monetary policy' given on 17 October Anthony Santomero of the Federal Reserve Bank of Philadelphia said the transition to a new Federal Reserve chairman will be a smooth one.
Fiji's Narube on the economy
In the speech 'Fiji's economy: Performances and prospects' given on 17 October Savenaca Narube of the Reserve Bank of Fiji said the economy is enjoying a long period of consistent growth and this will continue into the next three years.
Poole on the Fed's monetary policy rule
In the speech 'The Fed's monetary policy rule' given on 14 October William Poole of the Federal Reserve Bank of St. Louis said Federal Reserve policymakers cannot be locked into long-term policy decisions but must instead remain ready to react to…
Comment: An unexpected change at the BoE
The Bank of England (BoE) on Monday somewhat unexpectedly announced that deputy governor for financial stability, Sir Andrew Large, would be leaving the Bank at the end of the year.
RBZ among most disorganised central banks - report
Business Monitor International (BMI) has published a report which raises concern at the high-level of political interference in the operations of the Reserve Bank of Zimbabwe.
ECB rates still appropriate according to Trichet
ECB President Jean-Claude Trichet said on Sunday 16 October that European Central Bank interest rates were "still appropriate" and that second-round inflationary pressures from oil prices had not developed so far.
BOJ minutes show support for liquidity cut
Two Bank of Japan Policy Board members suggested that they may support the lowering of the current account balance target in the future, according to minutes released Monday 17 October.