Central Banking staff
Follow Central Banking
Articles by Central Banking staff
Sveriges Riksbank Board Meeting minutes, 3 July
Minutes of the Sveriges Riksbank Executive Board meeting on 3 July, published 17 July. A number of members stressed in particular the fact that new information had not provided any clear indications of an upswing and that there were therefore no…
Fukui on prospects for future of Japan's economy
In the speech 'Prospects for the Future of Japan's Economy' given on 23 July Toshihiko Fukui of the Bank of Japan said for Japan's economy to resolve the problems it faces and move forward, firms and individuals must become active in seeking new value…
Broaddus - Update on the Economy, Monetary Policy
In the speech 'Update on the Economy and Monetary Policy' given on 25 July Alfred Broaddus of the Federal Reserve Bank of Richmond said to sum up on the current state of the economy, there are a few signs in the recently released data that the recovery…
RBNZ Governor reminds gov't of inflationary impact
Speaking on 28 July Reserve Bank of New Zealand governor Alan Bollard urged local government in New Zealand to consider the broader economic implications when putting up rates and other local body charges.
Europe cashes in on its forgotten money
European governments are rubbing their hands with glee at the prospect of a windfall of up to €13 billion from their forgotten national currencies, CentralBankNet discovers in this week's Monday Special Feature. This is the amount of lire, guilder,…
EU needs a more 'intelligent' pact - Pascal Lamy
Speaking during a visit to China EU Trade Commissioner Pascal Lamy said the EU's Stability and Growth Pact needs to be "modernised and whipped into shape" and needs to be a more "intelligent" pact, according to EU Observer.
Polish Fin Min wants c bank help on foreign debt
Poland's finance ministry is seeking funds from the national bank at a preferential rate to use to repay part of Poland's foreign debt, so-called Brady bonds, according to Polish News Bulletin. Leszek Balcerowicz, president of the NBP, did not comment on…
Court summons Bank of Tanzania governor personally
The governor of the central bank of Tanzania, Daudi Balali, was due to appear in person at the High Court, Dar es Salaam on Friday 25 July, according to all Africa News. The civil case refers to an agreement signed on 25th April 1985 between the…
Fed can keep rates low as growth quickens - McTeer
In a speech to the Dallas Rotary Club, Reuters reports that Dallas Fed President Bob McTeer expressed optimism the economy would soon revive, even as he admitted a lack of "hard evidence" of a pickup.
MNB vice president Auth warns against wage index
Inflationary pressures could build up in the Hungarian economy if next year's wage rises are linked to planned tax changes, warned the vice president of the national bank of Hungary Henrik Auth in an interview with Reuters.
Germany's deficit shouldn't widen - Remsperger
The Bundesbank's chief economist Herman Remsperger has urged fiscal restraint and welfare reform, according to Bloomberg, saying "Borrowing to cover today's spending will worsen finances for future generations".
South Korea central bank sees economic recovery
Governor Park Seung of the Bank of Korea said on Friday 25 July, according to Reuters, that the economy could enter a recovery phase in the final quarter of this year but for the present, "our economy is in a very difficult spot", he added.
Former BIS head Crockett joins JP Morgan
Sir Andrew Crockett is to join JP Morgan Chase International as an international ambassador, The Times reports. Crockett was one of the favourites to take over at the Bank of England after leaving the BIS earlier this year. The post, based in New York,…
BOJ's Muto cites side effects of JGB buying
In the text of a speech published on Friday 25 July, Bank of Japan deputy governor Toshiro Muto said "Buying of 1.2 trillion yen a month represents a significantly high pace", according to a Reuters report. He suggested the policy had had some negative…
Japan should help guide yuan revaluation policy
This article in the Asahi Shimbun looks at the drive for revaluation of China's yuan, saying it first began in Japan where cheap imports from China are blamed for making domestic deflation worse. Japan needs an effective diplomatic strategy to influence…
Central bank forex intervention in Colombia
The IMF Working Paper "Central Bank Foreign Exchange Market Intervention and Option Contract Specification: The Case of Colombia" aims to identify appropriate option contract specifications for effective central bank exchange market intervention. The…
Paul Krugman on Greenspan 'Dropping the Bonds'
Paul Krugman used to be a great admirer of Mr. Greenspan, he writes in his New York Times column. "But something has gone very wrong with the maestro", he suggests. He notes Greenspan's optimism in recent testimony that tax cuts and low interest rates…
RBNZ focusing on banking supervision in NZ
Speaking in Wellington, Reserve Bank of New Zealand governor Dr Alan Bollard said "The Reserve Bank is keen to ensure that our regulatory system is invigorated and focused." In a press release Friday the RBNZ signalled its intention to put more effort…
RBA adds an Education section to its website
The Reserve Bank of Australia has included an Education section on its website. The new section draws together information, already on the site, into key areas of interest to teachers and students of economics and finance.
Rachel Lomax and a new era for the MPC
Rachel Lomax's first Monetary Policy Meeting at the Bank of England may have labelled her a hawk for good from day one at the office. An article published by Dow Jones suggests her reluctance to vote for a rate cut when growth is weak may signal distinct…
Thailand's central bank loosens currency controls
Due to an excess of savings, Thailand's central bank will allow local financial institutions to invest up to 500 million dollars abroad, deputy governor Thirachai Phuvanatnaranubala said on Wednesday 23 July, according to a report by Agence France-Presse.
Malta central bank signs employees agreement
A collective agreement signed on Tuesday 22 July by the Central Bank of Malta provides for improved salaries, better conditions of work and various important changes, according to Malta Media. This is expected to lead to greater efficiency within the…
Bernanke: Fed could cut rates to zero
In his speech to a University audience on Wednesday 23 July, Reuters reports that Ben Bernanke declared that the Federal Reserve was ready to keep short-term interest rates low indefinitely - even cutting them to zero - to jumpstart the economy and ward…
China claims success on currency front
The People's Bank of China has said upward pressure on its currency is being reduced with the help of regular open market offerings of central bank bills, according to the Financial Times. "We will persist with the central bank bills for some time to…