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Papers from the RBA's 2004 Conference
The Reserve Bank of Australia published papers from its 2004 Conference "The future of inflation targeting" on 15 November. The papers include "Can central bank transparency go too far?", "Inflation measurement for central bankers" and "Inflation…
RBNZ warns financial stability stakes higher
Reserve Bank of New Zealand Deputy Governor Adrian Orr warned in a speech in Napier to the New Zealand Society of Actuaries entitled "A prosperous but vulnerable nation" that the rise in New Zealand's external debt in recent years stresses the need for…
Canada's Jenkins on globalization and mon. policy
In a speech on 'Globalization and Public Policy: Lessons from Central Banking' given on 15 November, Paul Jenkins of the Bank of Canada identifies two of the key principles that distinguish a modern, credible monetary policy framework-clarity of…
Macfarlane: Monetary Policy & Financial Stability
At a speech given in Melbourne, Reserve Bask of Australia governor, Ian Macfarlane highlights rising risks within the Australian home loan market.
Frankel on currency crises
In the 2004 Mundell-Fleming lecuture, given at the IMF on 5 November, Professor Jeffrey Frankel examines currency crisis, and their political fallout.
Norway's buffer against rising oil prices
High oil and gas prices mean that Norway is running a sizable current account surplus for 2004, which could put upward pressure on the exchange rate. Last Friday, Jarle Bergo, a deputy governor at the Norges Bank, explained how this could affect Norway's…
Riksbank deputy on the housing market
Increasing household debt and rising housing prices since the early 1990s have been of great interest to the Riskbank, said Lars Nyberg, a deputy governor, in a recent speech. The central bank and consumers must be vigilant although there do not "seem to…
Exchange rate policy and sovereign bond spreads
A recent IMF working paper claims to be the first empirical study on the impact of exchange rate policy on sovereign bond spreads in developing countries. The choice of exchange rate matters, the authors argue. They find that real exchange rate…
EU finance ministers voice concerns
Eurozone finance ministers, meeting in Brussels on Monday night, 16 November, avoided pressuring the ECB over interest rates or intervention to stabilize the euro, but did voice their concerns over the euro's strength against the dollar
Fed's Olson on state of the US economy
Federal Reserve Governor Mark Olson spoke on Monday 15 November about the state of the US economy, and issued a warning to expect more rate rises as the economy recovers.
IMF's Rato on Russian inflation threat
IMF Managing Director Rodrigo Rato warned Russian policymakers to focus on controlling inflation rather than stimulating growth, when he arrived on a visit to Moscow on Tuesday 16 November.
France's Noyer sees oil prices as main threat
The Governor of the Banque de France, Christian Noyer, identified high oil prices as the most significant threat to French growth, in an interview with French newspaper Les Echos.
Greek deficits were under-reported
An investigation by Eurostat concluded on Monday 15 November that Greece had broken the three per cent of GDP deficit ceiling for membership of the Euro every year since 1997.
Malta's Bonello on fiscal matters
The governor of the central bank of Malta, Michael Bonello, gave a speech at the Annual Dinner of the Institute of Financial Services, in which he considered the state of the country's finances against the background of a slow-growing economy.
Cuba introduces tax on exchanging dollars
Cuba has introduced a 10% tax on the exchange of dollars, following restrictions introduced last week which outlawed the use of dollars in domestic transactions.
Won and Yen rise with no intervention expected
The Korean and Japanese currencies rose against the dollar on Monday, amid speculation that authorities would refrain from aggressive intervention this time.
China's Zhou on prospects for a soft landing
The governor of the People's Bank of China claims that China's economy is on course to avoid a hard landing, and that measures taken by the central bank to cool the economy are working.
Brazil's central bank takes over Banco Santos
Brazil's central bank took over operations of Banco Santos on Friday evening, in response to the bank's weak financial situation and its failure to meet deposit requirements.
Devaluation dangers for the United States
Large cross-border holdings of foreign assets and liabilities mean that exchange rate adjustment has grown in importance relative to the traditional trade balance channel, argue the authors of a new CEPR discussion paper. The paper empirically explores…
Reserve Bank of Fiji quarterly review, September
The Reserve Bank of Fiji expects "good growth" for the domestic economy in 2004 according to its third quarter review. "Upbeat" consumer spending, the "strong performance" of the cane and sugar industries and the "outstanding performance" of the tourism…
CDO rating methodology
New research paper from the Bank for International Settlements examines different methods of rating collateralised debt obligations (CDOs).
Caruana: what is next for Basel
Remarks by Mr Jaime Caruana, Governor of the Bank of Spain and Chairman of the Basel Committee on Banking Supervision, at the "Basel II: Reality Check" Conference, London, 10 November 2004.
Easing out of Monetary Easing
As an end to deflation nears, the Bank of Japan faces the tricky question of how to leave behind its policy of "quantitative easing". The San Francisco Fed has some advice.
Interview: Jacques de Larosière
Key European countries are guilty of “systematic slippage” in fiscal affairs. So says the former managing director of the IMF and governor of the Banque de France, Jacques de Larosière, in this week’s CentralBankNet Monday special