Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Greenspan says flexibility crucial to economy
The ability of the US to weather a surge in energy prices is the latest example of how economic flexibility helps prevent serious recessions, Federal Reserve Chairman Alan Greenspan said on Wednesday 12 October.
BoE's King on the UK economy
In a speech given on 11 October Mervyn King of the Bank of England warned that the period of low inflation and constant growth in the UK over the past 10 years may be at an end.
Heikensten on risks and financial stability
In the speech 'Risks and financial stability' given on 7 October Lars Heikensten of the Sveriges Riksbank said the financial markets have developed rapidly in recent years, and there are many reasons for this.
Richmond Fed's Economic Quarterly, Summer 2005
The Federal Reserve Bank of Richmond has published its Economic Quarterly for Summer 2005. The latest issue includes the article 'What's driving wage inequality?'
Fed minutes suggest more rate rises
Minutes from the Federal Reserve's 20 September meeting were published on Tuesday 11 October. FOMC members believed more interest-rate increases would be needed to keep inflation down when they raised interest rates at their last meeting, the minutes…
Fed's Kohn on globalization and inflation
In the speech 'Globalization, inflation, and monetary policy' given on 11 October Donald Kohn of the Federal Reserve said increasingly globalized financial markets may be less forgiving when they think central banks have erred than the domestic-based…
Comment: ECB on banking in the EU
The ECB recently published its annual report on EU banking structures, outlining the main developments in the sector in 2004 and the first half of 2005. The report identifies a number of important structural developments that are of great importance for…
Italy Senate approves central bank reform
Italy's Senate on Tuesday 11 October approved a bill to reform the Bank of Italy and the financial sector.
Belarus, Russia agree on ruble introduction plan
The National Bank of Belarus and the Russian central bank have approved a plan of action to introduce the Russian ruble as sole legal tender in Belarus.
Hungary's PM says euro date needs more thinking
Hungarian Prime Minister Ferenc Gyurcsany said Tuesday 11 October that adopting the euro in 2010 needs more consideration because of the social implications of the budget spending reductions the move would require.
Bank of Italy says still talking to ECB
The Bank of Italy said Tuesday 11 October it was still talking with the European Central Bank about its role in a controversial takeover battle and denied a press report claiming the ECB had concluded that Antonio Fazio broke banking rules.
Sweden's Riksbank appoints new governor
The Riksbank General Council on Tuesday 11 October appointed Stefan Ingves to succeed Lars Heikensten as Governor of Sveriges Riksbank.
Brown should bank on a change of approach
This article published on Tuesday 11 October asks whether it could be time for the UK's Chancellor to re-order the remit of the Bank of England's MPC? Or at least place growth, which ultimately leads to jobs and prosperity, as an equal priority to price…
Bank of Canada, Business Outlook Survey, Autumn 05
The Bank of Canada published its Autumn 2005 Business Outlook Survey on 7 October, saying firms overall remain positive about the economic outlook.
US gains little by urging IMF to hound China
This recent article looks at comments by Tim Adams of the U.S. Treasury: that had the IMF used its power of "special consultations" with countries more often, it could now use moral suasion on China to make it accept a stronger yuan.
Gjedrem on the outlook for the Norwegian economy
In the speech 'Monetary policy and the outlook for the Norwegian economy' given on 10 October Svein Gjedrem of Norges Bank said the Norwegian economy is in an upturn and is now expanding at a brisk pace.
HKMA's Topping on improving the management of risk
In the speech 'Improving the management of risk through implementation of Basel II' given on 27 September Simon Topping of the HKMA said although preparations for the implementation of the new capital framework are well advanced in a large number of…
RBA's Stevens on economic conditions and prospects
In the speech 'Economic conditions and prospects October 2005' given on 11 October Glenn Stevens of the RBA said record fuel prices will stoke Australia's inflation rate in the third quarter and may lead to longer-term increases in the cost of other…
Comment: Trichet on European reforms
In order to enhance or even maintain its economic prospects, Europe needs substantial economic reforms. While continental electorates appear reluctant to accept this argument, it has become the battle cry of the European centre-right and international…
PBOC's Zhou sees need for more financial stability
China can't rely solely on central bank interest rate and exchange rate policies to maintain financial stability, People's Bank of China governor Zhou Xiaochuan wrote in the China Economic Weekly.
Hungary's Jarai warns deficit moving wrong way
Hungarian central bank governor Zsigmond Jarai warned in an interview on Monday 10 October that the country's budget deficit is moving in the wrong direction for euro membership.
Bank of Italy governor questioned in Rome
Prosecutors were questioning embattled Bank of Italy Governor Antonio Fazio on Monday 10 October regarding his involvement in the takeover struggle for Banca Antonveneta SpA, the central bank said.
Colombia central bank sold $250m reserves to govt
Colombia's central bank sold the government $250 million in foreign reserves and bought 880 billion pesos ($382 million) worth of TES Treasury bonds over the past week, the bank said on Friday 7 October.
Fukui and Greenspan to meet in Tokyo
Bank of Japan Governor Toshihiko Fukui will hold talks with U.S. Federal Reserve Chairman Alan Greenspan on 17 October at the BOJ's head office in Tokyo, officials said.