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PNG's Bakani on financial system reform
In the speech 'Financial system reform in Papua New Guinea' given on 23 June (published 15 August), Loi Bakani of the Bank of Papua New Guinea said the Bank of PNG is in a process of establishing a legal framework for the microfinance industry and will…
Bank of Japan Monthly Report, August 2005
The Bank of Japan published the English version of its August 2005 monthly report on 11 August. The BOJ upgraded its outlook of the economy, saying exports and wages were picking up.
Paper: Central bank credibility during ERM crisis
Financial markets embed expectations of central bank policy into asset prices. The Working Paper "Assessing central bank credibility during the ERM crises: Comparing option and spot market-based forecasts" from the Center for Financial Studies compares…
Comment: Output losses from financial crises
Central bankers and regulators, like other professionals, naturally spend a lot of time on the technical details of their jobs. Sometimes it is well to be reminded of just how much is at stake in their policy decisions.
Inflation view falls to 5.4% in Brazil
The average market forecast for Brazil's benchmark inflation index fell on Monday 15 August for the 13th straight week to 5.4 percent.
Ghana's Acquah: W Africa may face financial crisis
Governor of the Bank of Ghana, Dr. Paul Acquah, expressed fear at the weekend of an impending financial crisis in the Economic Community of West African States (ECOWAS).
Buba report says weak growth in EU 'real' problem
The Bundesbank published its August monthly report on Monday 15 August, saying that weak economic growth in the EU is responsible for feelings of discontent with eurozone economic growth.
PBOC says money supply growth 'suitable'
M2, the broad measure of money supply, grew 16.3 per cent year-on-year by the end of July, the People's Bank of China (PBoC) announced in Beijing Friday 12 August.
India to ensure stability in forex market
India will ensure stability in the country's $12bn-a-day foreign exchange market amid surging inflows and will maintain its slow pace in opening up the capital account, a senior Reserve Bank of India official said.
Kansas Fed Paper on inflation targeters
The Kansas Fed Working Paper "Do we really know how inflation targeters set interest rates?" published July 2005 says under inflation targeting regimes other objectives that possibly conflict with the inflation goal are present.
Why do we regulate?
This article looks at the need to regulate banks. It quotes a recent paper which says it is difficult to identify a sound policy reason for regulating banks. We do so because we want to, not because we must, it says.
MAS's Shanmugaratnam on money-changing businesses
In a speech given on 15 August Tharman Shanmugaratnam of the Monetary Authority Of Singapore said the Bill expands the scope of MAS' powers to revoke or suspend a money-changer's or remittance licence to include cases where the licensee has failed to…
RBNZ's Bollard on the New Zealand payment system
In the speech 'New Zealand payment system' given on 11 August Alan Bollard of the Reserve Bank of New Zealand said the RBNZ is making protection of New Zealand's $41 billion-a-day payments system its leading priority.
Fazio should be forced out of the Bank of Italy
According to this article published on Monday 15 August, Antonio Fazio has tossed aside the few strict principles a central banker must follow. He has become an embarrassment, it says, and there is now no credible way he can remain in office.
Prodi outlines Bank of Italy reform ideas
Italy's opposition leader Romano Prodi outlined a number of reform proposals for the beleaguered Bank of Italy on Friday 12 August and the country's other financial institutions.
Comment: Faster growth to spur higher rates?
What does the recent spate of good news in terms of economic growth in most of the world's largest economies imply for interest rate and the bond market?
New spokesman for the New York Fed
Peter Bakstansky has been the spokesman for the New York Fed for so long - 30 years, to be precise - that his impending retirement will be hard to get accustomed to, at least for any journalist.
Foreign central banks buying more US debt
Foreign central banks were big buyers of US debt in the latest week, swallowing up similar amounts of both Treasury and agency debt in what was the heaviest week of buying in 2-1/2 months, Federal Reserve data showed on Thursday 11 August.
Bank of Mexico holds interest rates steady
Mexico's central bank held monetary policy steady on Friday 12 August saying after its twice-monthly policy meeting it was keeping its money market "short" steady at 79 million pesos a day.
CITIC Securities to revamp China Securities
China's CITIC Securities Co confirmed media reports on Friday 12 August that it is teaming up with Jianyin Investment Ltd, an investment arm of the central bank, to restructure Beijing-based China Securities Co.
Italian economy minister wants ECB rate cut
Italy's deputy economy minister Mario Baldassari said he favours the European Central Bank cutting its interest rates, as well as the euro being valued at parity with the dollar.
Korea suggests it may hike rates
The Bank of Korea said on Thursday 11 August that it would consider increasing interest rates if the economy recovered fully.
Greenspan, her art-throb
Fascinated by the Federal Reserve chairman, this article looks at the work of an artist who has completed 20 paintings and sketches of Alan Greenspan. The artist then decided to display her works at a gallery on Long Island over the summer.
PBOC's Xiaochuan on developing capital markets
In the speech 'Improve corporate governance and develop capital market' given on 13 July, Zhou Xiaochuan of the People's Bank of China said if we hold the view that the objective of financial sector reform is to make the financial institutions stronger…