Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Bundesbank urges Brussels to 'reactivate' pact
The Bundesbank urged the European Commission in Brussels Tuesday to "reactivate" the European Stability and Growth Pact in its current form, following a landmark ruling on the EU's strict budget rules by the European Court of Justice.
European Parliament on Pact decision
Christa Randzio-Plath, outgoing chair of the Committee on Economic and Monetary Affairs of the European Parliament, expressed her views on the Stability and Growth Pact issue in this press release, 13 July.
Iran's Sheybani stresses use of modern technology
Ebrahim Sheybani, the governor of the central bank of Iran, told a seminar on Saturday 10 July that implementing policies to use modern technology with the aim of expanding non-oil exports sector would act as an impetus for higher economic growth and…
Noyer says ECB rate can't stay low forever
Bank of France governor Christian Noyer said in an interview that the ECB's interest rates are appropriate, but that financial markets should not expect them to remain low forever.
Snow says terror threat hangs over US economy
The potential for more terror attacks is a risk to the U.S. economy that requires vigilance against any bid to weaken measures for investigating suspicious money transactions, U.S. Treasury Secretary John Snow said on Tuesday 13 July.
Moroccan law gives central bank more independence
Morocco's Lower house has adopted by a majority vote a bill regarding amendments to the status of Bank Al Maghrib, the central bank, which will grant it more autonomy, MAP news agency reported.
Bank of Canada, Business Outlook Survey, Summer 04
The Bank of Canada published its Summer 2004 Business Outlook Survey on 12 July. Businesses are somewhat more optimistic about the outlook than they were in the spring, the Survey reported, reflecting increased confidence about the robustness of the…
With Euro as a model, group pushes global currency
The first meeting of the Single Global Currency Association met last Friday 9 July, with a modest attendance of seven. The group signed a resolution calling for the nations of the world to develop "a comprehensive plan for the implementation of a single…
IMF's Rato at the conference on Central America
In a speech given on 9 July Rodrigo Rato of the IMF said that "our research has clearly shown that small open economies benefit enormously from globalization, as long as they are well prepared for it. In particular, we have found that poverty declines in…
SARB's Mboweni at the University of Pretoria
In a speech given on 8 July Tito Mboweni of the South African Reserve Bank emphasised that the bank has a vision of responsible and effective monetary policy formulation and continually strives to be an institution of excellence and innovation.
India introduces mobile ATM
The State Bank of India on Saturday 11 July rolled out its first mobile ATM to improve accessibility to customers in remote areas and tourist locations in the country.
WHY AM I HERE?
This week's CentralBankNet Special looks at the differing ways in which central banks define their purposes. One doesn't think of central bankers as being preoccupied with existential questions. But some are. Under Mervyn King's stewardship, for instance…
UK's Brown urges gold revaluation for debt relief
Gordon Brown, the UK Chancellor of the Exchequer, on Friday 9 July called on the International Monetary Fund to revalue its gold reserves as a method of releasing more money for debt relief for the world's poorest countries.
No need for ECB to hike rates: Buba's Weber
Bundesbank president and European Central Bank governing council member Axel Weber said in an interview published at the weekend that available information indicates the ECB will not need to change its interest rates in the foreseeable future.
Hoenig sees US inflation staying below 2%
Kansas City Federal Reserve Bank President Thomas Hoenig said in a speech to a business group that he doesn't think inflation will exceed a 2.0 percent rate in the US.
Sveriges Riksbank Economic Review 2nd Quarter 2004
The Sveriges Riksbank published its Economic Review for the 2nd Quarter 2004 on 12 July. The Review contains articles on subjects related to central banking. The English version of the second issue contains three articles: Can we be best again?, How does…
Brazil cb COPOM Minutes15/16 June
The Banco Central Do Brasil has published the minutes of the 97th meeting of the Monetary Policy Committee (COPOM), 15 and 16 June. Recent economic activity indicators confirm the continuity of the economic rebound process initiated in the second quarter…
Park: Korea's fast changing economic environment
In a speech on 'Swiftly changing economic environment in Korea' given on 3 June, Dr Seung Park of the Bank of Korea said the hollowing-out of manufacturing may well appear threatening to the Korean economy in certain respects and in the short term…
Bundesbank warns of small coin shortage
in a press release of 8 June the Bundesbank said on there is a shortage of small-denomination coins in many euro-area countries. A particularly relevant factor seems to be that people are setting aside the small coins given them in change rather than…
Reports of Russian bank crisis in progress
Pravda reported Friday a Russian banking crisis in progress, causing a rapid appreciation of the US dollar against the ruble. But a former government official said the situation could hardly be called a crisis.
Finland missing 1.45bn markka after euro switch
Close to 1.45 billion Finnish markka, equivalent to 244 million euros, have yet to be exchanged for euros two and a half years after Finland switched to the euro, a Bank of Finland official said.
PBOC's Zhou says China won't loosen loan controls
The People's Bank of China will not loosen control over loan extension despite complaints from local businesses about cash flow problems, according to Governor Zhou Xiaochuan of the People's Bank of China.
NBP urges faster spending cuts for euro in 2009
Poland should move ahead quicker with its spending-reduction plan to cut the budget deficit and allow the largest new European Union member to adopt the euro before 2009, deputy governor of the National Bank of Poland (NBP) Krzysztof Rybinski said.
Portugal increase growth forecast
The Bank of Portugal has raised its forecast for economic growth this year owing to a higher-than-expected increase in internal demand, central bank Governor Vitor Constancio said.