Monetary Policy
Norway's Bergo on monetary policy
In the speech 'Monetary policy and the cyclical situation' given on 23 November Jarle Bergo of Norges Bank said developments ahead are uncertain and the Norwegian economy may be exposed to shocks.
Bernanke urges action on China currency
Federal Reserve chairman-designate Ben Bernanke has called on China to reform its currency regime in the interests of its own economy.
Duck-soo urges BoK caution
South Korea's finance minister, Han Duck-soo, said on Tuesday 15 November that the Bank of Korea should be "more cautious" in raising interest rates.
Bernanke hawkish on inflation
In his confirmation hearing before the US Sentate Banking Committee, Ben Bernanke expressed some concerns about the current inflation rate in the US.
Comment: Bernanke hits the ground running
While arguing that he will take his time in building the case for an inflation-targetting Fed, Ben Bernanke's remarks during his confirmation hearing yesterday before the US Senate Banking Committee made clear that he remains a proponent of the framework.
SARB's Mboweni on the rand
Governor Tito Mboweni yesterday said the South African Reserve Bank (SARB) favoured a "competitive" exchange rate. The country's mining and manufacturing sectors have struggled to adapt to an appreciating rand, since the currency rallied from historical…
BoE interest rate challenge gets under way
The sixth annual Bank of England (BoE)/Times Target Two Point Zero Interest Rate Challenge commences on 21 November. The competition asks nearly one thousand school and college students to decide what the UK's official interest rate should be to keep…
Norway paper on Monetary policy and asset prices
A recent Bank of Norway working paper investigates whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy.
All eyes on the rand
Inflation is on target, but the exchange rate still dominates economic debate, writes Malan Rietveld.
Beware fads and fashions
The latest fashion in accounting standards will not deliver good central banking says John Nugée.
Accountability – a politician’s view
David Ruffley discusses how the Bank of England’s accountability has developed in recent years.
Why statistics matter
More care should be taken in presenting important statistics, says Steve Hanke, editorial adviser to Central Banking.
No rates change, recovery "gradual" - BoK's Park
The Bank of Korea (BoK) on Thursday 10 November left its benchmark short-term interest rate unchanged at 3.5 percent. The decision was widely expected by market participants, following a 25 basis point increase last month.
Japan's Fukui on New Path of Growth
On 11 November Toshihiko Fukui, governor of the Bank of Japan, gave a speech entitled "Toward a New Path of Growth for the Japanese Economy" based on the Bank's October Outlook Report at the Kisaragi-kai meeting in Tokyo.
Inflation concerns for Czech NB
The Czech National Bank (CNB) is worried about the inflation criterion the country must meet before joining the euro, vice-governor Miroslav Singer told delegates at a forum of the Czech Exporters' Association on 10 November.
Comment: Unresolved collateral issues remain
The news that the ECB will only accept sovereign debt with an A- rating or higher as collateral for repurchase agreements and other collateral financing trades with commercial banks will help to instil fiscal discipline on member countries in the long…
BoE: no rates change
The Bank of England left its main interest rate yesterday, 9 November, unchanged at 4.5% for the third month in succession. The decision was widely expected after recent comments by Mervyn King, governor of the Bank, indicating he was against rate cuts.
Comment: Activism the ECB way
Yesterday, 9 November, Jean-Claude Trichet explained how the ECB's decision to leave interest rates unchanged for more than two years should not be equated to non-activist monetary policy.
Turkish interest rate cut
The Central Bank of Turkey (CBRT) yesterday, 8 November, cut short-term interest rates by 25 basis points, bringing the overnight borrowing rate and the lending rate to 13.75 percent.
ECB's Weber sees inflation risks
Bundesbank president and ECB governing council member, Axel Weber, told reporters at a news conference on 8 November that risks to price stability have increased in the eurozone in recent weeks, primarily due to a rebound in economic growth, soaring oil…
Comment: The ECB clarifies collateral policy
President Jean-Claude Trichet's clarification yesterday that the ECB would only accept sovereign debt with a rating of A- or higher as collateral for loans to commercial banks, is likely to have policymakers in Italy and Greece and a number of eurozone…
ARB sees "modest" inflation threat
The Australian Reserve Bank said in its monetary policy statement released on Monday 7 November that it expects "a modest" increase in inflation rate and hinted that interest rates would remain on hold this year.
Brazilian CB reduces number of meetings
The Central Bank of Brazil will lengthen the period between its interest rate policy meetings to 44 days from the current 30 days.
Euro ministers warn against rate hikes
Finance ministers meeting in Brussels renewed their calls for the European Central Bank to refrain from interest rates hikes.