Central Banking staff
Follow Central Banking
Articles by Central Banking staff
The Eddie and Gordon show
Praise was liberally showered on Sir Edward George at his City swansong, the annual Lord Mayor's banquet for the square mile's great and good - Eddie's 27th in a row. Gordon Brown, Chancellor of the Exchequer, praised his integrity, steadfastness and…
Hooray for Trichet!
So the Paris courts have once and for all cleared Banque de France governor Jean-Claude Trichet and his predecessor Jacques de Larosiere from the unfounded allegations that had been made about their role in the Credit Lyonnais affair more than 10 years…
Controversy surrounds Venezuela's forex controls
Venezuela's finance minister Tobias Nobrega has announced that he will shortly be revealing to the Venezuelan public the changes to be made in the foreign exchange system, says VHeadline. However central bank board member Domingo Maza Zavala claimed the…
Inflation expectations crucial - SARB
The South African Reserve Bank suggested in its June quarterly bulletin that it expected inflation to hit its target later this year but it would largely depend on the extent to which price expectations conformed to trends, according to a report by…
Argentina to bar provinces from emitting scrip
The Argentine senate is likely to approve a law barring the provinces from producing quasi- currencies as required by the IMF under the loan accord, according to Bloomberg. The proposed law makes the central bank the only entity permitted to produce…
Prosecutor won't appeal Trichet decision
The public prosecutor's office in Paris has said it will not appeal the decision to acquit Jean-Claude Trichet on charges of false accounting., according to a report by BizWorld.
CBN: Who wants Sanusi out ?
An article in the Nigerian Daily Times discusses the recent speculation over the resignation of the governor of the central bank of Nigeria (CBN) Joseph Sanusi. During the week he found himself learning about his resignation from the media the article…
RBI to get real time settlement system by year-end
Business Line reports that Vepa Kamesam, Deputy Governor of the Reserve Bank of India has said India's much awaited 'real time gross settlement system' will become operational before the end of the year.
EU to keep Duisenberg at ECB until October
Wim Duisenberg will remain in his post until October, the Greek Prime Minister Costas Simitis has said according to Bloomberg News. Trichet got the backing on Thursday 19 June of leaders of Germany, Italy, Luxembourg and Portugal, as well as Greece's…
More delay in naming Bulgaria's cb governor
The naming of the new governor of the central bank of Bulgaria, scheduled for Friday 20 June, has been further delayed and is now expected next Thursday, 26 June, according to Novinite.
Gap in our knowledge about output and inflation
In this article in the Financial Times Samuel Brittan looks at the idea of discretionary fiscal policy replacing monetary policy once Britain is in the euro - a return to Keynesian demand management as some have describe it. The Treasury's proposal…
Sveriges Riksbank predicts weaker exports
Minutes of the Sveriges Riksbank Executive Board meeting held on 4 June, published 18 June. The minutes said weaker international economic activity is expected to lead to a weaker development in Swedish exports and to postponement of the anticipated…
Ferguson testimony on Basel II and H.R. 2043
In testimony on 'Basel II and H.R. 2043' Roger Ferguson of the Federal Reserve said plans for U.S. negotiators to meet with their international counterparts in November may not leave enough time for U.S. agencies to consider feedback from domestic banks…
Philadelphia Fed Business Outlook Survey, Jun 2003
Manufacturing activity improved in June - Activity in the region's manufacturing sector improved modestly, according to the firms surveyed for June's Business Outlook Survey from the Philadelphia Fed. The reading for overall business activity increased…
Andrew Large to head financial system taskforce
Deputy governor of the Bank of England for Financial Stability, Sir Andrew Large, has been asked to establish a taskforce to examine the possible need for legislative powers in the event of major operational disruption to the UK financial system.
South Asian ACU considers central clearing house
The Asian Clearing Union meeting in India has proposed the establishment of a central clearing house to facilitate faster risk-free clearing and settlement of transactions among member countries, according to the Daily Star.
Brown pledges not to fix euro entry tests
Gordon Brown said on Wednesday 18 June that the five euro entry tests would not be fixed, in a report in the Financial Times, and that the review in next year's budget of reforms aiming to create convergence between the UK and eurozone economies would…
IMF criticises Ukraine's bank refinancing program
The IMF has criticised the National Bank of Ukraine's long-term bank refinancing program, reports Interfax, saying it may distort the credit market, limit monetary policy flexibility and increase government spending.
Gretta takes medical delegation to Palestine
Gretta Duisenberg, wife of the President of the European Central Bank, has accompanied a medical delegation to Palestine consisting of five physicians from the Netherlands and Belgiu, according to a report by the Palestine Chronicle.
Moldova's central bank diversifies forex reserves
The central bank of Moldova has diversified its foreign exchange reserve portfolio to guard against exchange rate risk, according to the ITAR-TASS news agency.
Polish central bank chief seeks euro entry in 2007
National Bank of Poland President Leszek Balcerowicz told Bloomberg News in a television interview "Our hopes are for 2007" to adopt the euro and it was worth aiming for early adoption.
Arab central bank council discusses Basel II rules
The Council of the Arab Central Banks met in Bahrain on Wednesday 18 June to discuss the Basel II convention and how it would affect the supervisory role of monitoring the banking industr, according to a report by the Khaleej Times..
Barbados central bank to launch new book
As the 30th anniversary of the Central Bank of Barbados approaches, the Bank has announced it will publish a book, "Facing Globalisation: Impact and Challenges for Barbados and the Caribbean" on Friday 20 June, according to the Barbados Advocate
Canada's Dodge on recent economic developments
In a speech on 'Recent Economic Developments and the Conduct of Monetary Policy' David Dodge of the Bank of Canada said looking forward, it remains our view that growth in Canada's economy will be underpinned by the strength of domestic demand and a…