Monetary Policy
Pianalto on economic conditions & monetary policy
In the speech 'Economic conditions and monetary policy' given on 12 June Sandra Pianalto of the Federal Reserve Bank of Cleveland said recent news on US inflation has been troubling, but if the economy moderates as forecast, an interest rate at 5% is…
Comment: The housing bubble debate
In a recent working paper for the Czech National Bank Stephen Cecchetti, an economist at Brandeis University concludes that "monetary policymakers have no choice but to face the risks posed by asset price bubbles head on".
Trichet on activism & alertness in monetary policy
In the speech 'Activism and alertness in monetary policy' given on 8 June Jean-Claude Trichet of the ECB said we are not in a position that we would judge "abnormal", in the sense that we would have to increase as rapidly as possible our interest rates…
Weber: Rate moves not subject to FX considerations
Bundesbank president and European Central Bank council member Axel Weber said Friday 9 June that the ECB cannot make interest rate decisions with reference to the level of the euro.
Fed, under pressure, may go ahead with increase
According to this article by John Berry of Bloomberg, published Friday 9 June, Federal Reserve officials now seem likely to raise US interest rates later this month.
What did Bernanke say?
According to this editorial published Wednesday 7 June, Federal Reserve chairman Ben Bernanke is probably obsessed with central bank transparency.
Rosenberg on the Riksbank's forecasts & mon policy
In the speech 'The Riksbank's forecasts and current monetary policy' given on 8 June Irma Rosenberg of the Sveriges Riksbank said she believes it is time for less expansionary monetary policy.
Comment: Rates on the up
Monetary policymakers from Mumbia to Madrid to Pretoria stepped firmly on the monetary brakes yesterday, with no less than six central banks hiking rates.
ECB raises rates, sees further hikes ahead
European Central Bank president Jean-Claude Trichet said Thursday 8 June that the ECB is likely to raise interest rates again in future if the euro zone economy continues to recover.
Macklem on floating dollar, anchored inflation
In the speech 'Floating Dollar, Anchored Inflation: The Role of the Exchange Rate in Canada's Monetary Policy Framework' given on 8 June Tiff Macklem of the Bank of Canada said the Canadian dollar's rapid recent appreciation reflects strong demand for…
Caruana at the ECB's Governing Council Dinner
In a speech given on 7 June Jaime Caruana of the Bank of Spain said the ECB's monetary policy has been positive for the euro zone economy, but it needs to be supported by economic reforms by euro zone governments.
BOJ urged to maintain zero rate policy
Japan's government has urged the central bank to maintain its zero interest rates policy in order not to choke off the country's economic recovery.
RBNZ Monetary Policy Statement, June 2006
The Reserve Bank of New Zealand published its June 2006 Monetary Policy Statement on 8 June. The report said that recent economic activity has been weaker than projected in the March Monetary Policy Statement. However, the short-term inflation outlook…
Mohan on financial sector reforms, monetary policy
In the speech 'Financial sector reforms and monetary policy: The Indian experience' given on 2 June Rakesh Mohan of the Reserve Bank of India said the RBI will maintain vigil over asset price rises, especially in housing and real estate that are emerging…
Paper on monetary policy and asset prices
The University of Warwick Research Paper "Monetary policy and asset prices : What role for central banks in new EU member states?" deals with the relationship between monetary policy and asset prices.
Fed's Bernanke on the outlook for the U.S. economy
In the speech 'Panel discussion: Comments on the outlook for the U.S. economy and monetary policy' given on 5 June Ben Bernanke of the Federal Reserve said recent increases in measures of inflation ``are unwelcome'' and he will ensure the trend isn't…
The beginning of the end for inflation targeting
This article by Wolfgang Munchau published Monday 5 June in the Financial Times says that while an inflation targeting strategy has worked well for some central banks - notably the Bank of England - it did not work out as well for others.
PBOC's Zhou says no monetary tightening plan now
People's Bank of China governor Zhou Xiaochuan has said the PBOC does not plan to start further monetary tightening measures and will instead wait to assess the impact of its previous policy action.
NY Fed's Geithner on uncertainty and transparency
In the speech 'Uncertainty and transparency in the conduct of monetary policy' given on 31 May Timothy Geithner of the Federal Reserve Bank of New York said the neutral range of U.S. interest rates is almost impossible to capture, making the near-term…
Sweden's berg on the economy and monetary policy
In a speech given on Tuesday 30 May, Sveriges Riksbank deputy governor Svante berg said in his experiences of forecasting work there is considerable uncertainty linked to longer-term forecasts.
Buba's Weber on European financial integration
In the speech 'European financial integration and (its implications for) monetary policy' given on 23 May Axel Weber of the Deutsche Bundesbank said financial integration is a mostly beneficial process which is driven by market forces as well as…
Monetary policy conduct of the Swiss National Bank
The Bank of Japan Working Paper "Monetary policy conduct of the Swiss National Bank: the experience from 2001 to 2004" published May 2006 investigates the monetary policy conduct of the SNB during the period 2001 to 2004 and the accompanying financial…
Fed minutes show uncertainty on future hikes
Federal Reserve policymakers at their May meeting considered raising a key interest rate by half a percentage point before deciding on a quarter-point increase, minutes published Wednesday 31 May showed.
BoJ's Fukui on quantitative easing
In a speech given on 1 June Toshihiko Fukui of the Bank of Japan said the central bank's quantitative easing policy, which lasted for nearly five years till March 2006, helped in bringing recovery back to the deflation-hit Japanese economy.