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IMF rebuffs US Treasury on China - Bravo!
After years of marginalization and soul-searching, the IMF seems to be finding its voice again, according to this article published on Wednesday 5 October. IMF chief Rodrigo de Rato isn't about to do the US's dirty work, by branding China as a currency…
'The Region' from the Minneapolis Fed, Sep 2005
The Federal Reserve Bank of Minneapolis has published its regular magazine, The Region, for September 2005. The article "Payments system issues and challenges" asks why the market, not the Fed, is the prime mover in the U.S. payments system. The latest…
Sweden's Nyberg on financing of deposit insurance
In the speech 'Financing of deposit insurance - a central banker's perspective' given on 15 September Lars Nyberg of the Sveriges Riksbank said to the extent that central banks are concerned with financial stability, there is an important reason for the…
Comment: Roach slates Greenspan
Do Alan Greenspan's recent comments regarding the relationship between asset prices, monetary policy and macroeconomic stability present an about-face on some of his most controversial views? If so, what does this mean for the person who is to succeed…
Bank of England rejects BCCI settlement offer
The Bank of England said on Tuesday 4 October that it had rejected a recent approach to settle a £1 billion lawsuit involving the collapse of Bank of Credit and Commerce International (BCCI).
IMF official calls for BOJ to 'be cautious'
A senior International Monetary Fund official on Monday 3 September urged the Bank of Japan to "be cautious" about ending its quantitative credit easing policy.
BoJ's Haru sees chance to lift super-loose policy
Hidehiko Haru, one of the Bank of Japan's nine policy board members said the BoJ sees the possibility of lifting its four-and-half-year long ultra-loose monetary policy in early 2006, but cautioned that the move would not be rushed.
Wellink warns against protectionism over China
Dutch central bank President and ECB Governing Council member Nout Wellink said Monday 3 September that European countries shouldn't resort to protectionism as a response to increased competition from China.
Atlanta's Guynn says Fed work not done on rates
Atlanta Federal Reserve President Jack Guynn said in an interview on Monday 3 October that the Federal Reserve's 15-month interest rate hike campaign still has "a way to go" before completion.
IMF's Rato offers condolences on bombings
International Monetary Fund Managing Director Rodrigo de Rato made a statement on Sunday 1 October expressing his deepest condolences at the terrorist attack in Bali.
Norway's Bergo on the economic outlook
In the speech 'Household saving and the economic outlook' given on 3 October Jarle Bergo of Norges Bank said the existence of the Petroleum Fund may be influencing Norwegians' saving behaviour.
Kansas Fed's Hoenig on the global economy
In the speech 'The global economy' given on 15 September Thomas Hoenig of the Federal Reserve Bank of Kansas City said globalisation will probably always have its skeptics and detractors, but the benefits - which are long lasting - outweigh the costs.
Fed wary of inflation, preparing rate increase
According to this article published on Tuesday 4 October, Federal Reserve officials are on track to raise interest rates at their next meeting. Right now they are on the watch for any sign that expectations for future inflation are deteriorating, it says.
Norges Bank paper on monetary policy, asset prices
A Norges Bank Working Paper investigates whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy.
St Louis Fed's Regional Economist, October 2005
The Regional Economist, October 2005 edition, from the St Louis Fed includes the article "Gramm-Leach-Bliley turns 5". More than five years have passed since Congress enacted the Gramm-Leach-Bliley Act, tearing down regulatory barriers that separated…
Comment: IMF under fire again
Writing in the Financial Times yesterday eminent economist, Michael Mussa, who served as economic counsellor and director of the department of research at the International Monetary Fund from 1991-2001, joined the chorus of voices arguing that the Fund…
US payment system working well says Fed's Stern
The US payments system appears to be working well and there is no need for the Fed to significantly alter its role, Minneapolis Federal Reserve President Gary Stern said on Thursday 29 September.
Chavez says foreign reserves shifted to Europe
Venezuela has moved its central bank foreign reserves out of US banks, liquidated its investments in US Treasury securities and placed the funds in Europe, Venezuelan President Hugo Chavez said on Friday 30 September.
BOJ's Fukui sees 'fully sustainable' recovery
Bank of Japan Governor Toshihiko Fukui said on Monday 3 October that Japan's economic recovery seems "fully sustainable," though it is very subdued.
Wrong time to cut funds target says BOJ's Nakahara
Bank of Japan policy board member Shin Nakahara said in a speech on Monday 3 October that it would be inappropriate to lower the BOJ's funds target now, and that the threshold for ending its superloose policy framework was not low.
ECB's Tumpel-Gugerell on euro payments area
European Central Bank executive board member Gertrude Tumpel-Gugerell said foreign banks will take the leading role in restructuring the European banking sector if domestic banks move too slowly to create a single eurozone payments area.
ZABG illegally acquired bank assets
The Reserve Bank of Zimbabwe's economic turnaround strategy was dealt a severe blow recently when a Supreme Court ruling found that its "Zimbabwe Allied Banking Group" (ZABG) had illegally acquired assets from collapsed commercial banks.
OCC says US derivatives volume tops $96 trillion
Derivatives held by U.S. commercial banks increased by $5.1 trillion in the second quarter of 2005, to $96.2 trillion, the Office of the Comptroller of the Currency reported on Friday 30 September in its quarterly Bank Derivatives Report.
ECB's Trichet on European financial integration
In the speech 'European financial integration' given on 3 October Jean-Claude Trichet of the ECB said a lack of integration in EU mortgage markets carries costs for both housebuyers and banks.