Monetary Policy
BoJ's Fukui says board split 7-2 on target cut
Bank of Japan governor Toshihiko Fukui said on Friday 20 May that the BoJ's policy board vote was spilt 7-2 on maintaining the liquidity target at 30-35 trln yen. "Two members thought the target ought to be lowered," Fukui told a press conference.
Hungary bank chief says forint can weaken
Hungary's forint can weaken by "a few percentage points" without sparking an inflation rise, deputy central bank governor Gyorgy Szapary said in an interview.
Rato says US deficit weighing on world economy
The International Monetary Fund's forecast for global economic growth this year remains unchanged at 4.3 per cent although the US current account deficit is still weighing on the world economy, IMF chief Rodrigo Rato said on Thursday.
Treasury envoy to press China on peg system
The US Treasury has appointed a special envoy on China who will have an enlarged mandate to engage China on its exchange rate, which has been pegged to the dollar for the past decade.
NRB governor elected to ACU president
The governor of the Nepal Rastra Bank (NRB), Bijaya Nath Bhattarai was elected president of the Asian Clearing Union (ACU) at its 34th annual meeting in Lahore this week.
ECB's Papademos on monetary stability, integration
In the speech 'Monetary stability and financial integration in Europe' given on 9 May Lucas Papademos of the ECB said the ECB is committed to, and will continue to support, the process of structural reform in financial markets, as well as in labour and…
Sweden's Srejber on supervisory responsibility
In the speech 'The divorce between macro financial stability and micro supervisory responsibility: are we now in for a more stable life?' given on 13 May Eva Srejber of the Sveriges Riksbank said she finds it hard to see how, in the long run, the EU…
IMF's Krueger on the future of Turkey's economy
In the speech 'Turkey's economy: A future full of promise' given on 5 May Anne Krueger of the IMF said the need for structural reform is never-ending in the modern global economy and this is true here in Turkey as elsewhere.
China rejects calls for currency change
Chinese officials have rejected both Washington's demand that China loosen its fixed exchange rate policy and Europe's threat of quotas on a tide of Chinese textiles.
Turkey, Kyrgyzstan agree to cooperate
The Turkish Banking Regulation and Supervision Agency (BRSA) signed an agreement with the Central Bank of Kyrgyzstan, the agency said on Wednesday 18 May.
South Korea to continue currency intervention
South Korea's minister of finance and economy on Thursday 19 May denied a news report that the government has decided not to intervene in currency markets.
Malaysia to maintain currency peg
Malaysia will maintain its seven-year-old currency peg to the US dollar and has no plans to impose measures to curb the flow of speculative funds into the economy, Deputy Prime Minister Najib Razak said on Thursday 19 May.
Hong Kong loosens its dollar's 22-year peg
Hong Kong Monetary Authority chief Joseph Yam said on Thursday 19 May that a decision to loosen the Hong Kong dollar's 22-year peg to the US dollar won't encourage banks to raise interest rates sharply and hurt businesses.
Fed's Greenspan on government-sponsored enterprise
In the speech 'Government-sponsored enterprises' given on 19 May Alan Greenspan of the Federal Reserve levelled criticisms at the two mortgage giants Fannie Mae and Freddie Mac.
Hong Kong's Pang on the Asian Bond Fund
In a speech given on 5 May, Peter Pang said the Asian Bond Fund project will bring about many benefits. First, it introduces and promotes new fixed-income products to the Asian markets.
Dutch Paper on ECB support for the euro
The De Nederlandsche Bank Working Paper "Were verbal efforts to support the euro effective? A high-frequency analysis of ECB statements" published in April 2005 studies the effects of verbal interventions by European central bankers on high-frequency…
Minutes from the Sveriges Riksbank Meeting, 28 Apr
The Sveriges Riksbank published the minutes from its 28 April Executive Board meeting on 17 May. A member emphasised that growth in the world economy was still high, but said that it had become more unevenly distributed and that the performance seemed…
Dallas Fed's Fisher on the world economy
In the speech 'A walk around the world economy' given on 10 May, Richard Fisher of the Federal Reserve Bank of Dallas urged free trade between the US and "able competitors" and criticised efforts at protectionism.
BoE's King on monetary policy practice and theory
In a speech on 'Monetary policy: Practice ahead of theory' given on 17 May, Mervyn King of the Bank of England put forward his views on the virtues of an inflation targeting regime, attributing economic stability in the UK over the last decade to its…
Bank of England voted 8-1 to hold rates in May
The Bank of England's minutes from its May Monetary Policy Committee meeting released on Wednesday 18 May revealed policy makers voted 8- 1 to keep interest rates unchanged in May with Paul Tucker rejoining the majority, dropping his call for an increase.
BOJ's Muto says policy to remain
The Bank of Japan is committed to keeping the policy of holding interest rates at almost zero and pumping cash into the economy until deflation is over, Toshiro Muto, one of the Bank of Japan's two deputy governors said on Tuesday 17 May.
PBOC chief sees room for debt market expansion
China has considerable room to expand its debt market, People's Bank of China chief Zhou Xiaochuan said.
Portugal's Constancio sees 'difficult' steps ahead
Portugal's central bank governor has called for ``new and difficult'' steps to prevent the budget deficit from soaring back above European limits.
Netherlands paper on central bank transparency
The De Nederlandsche Bank Working Paper "The impact of central bank transparency on inflation expectations" published in March 2005, investigates how the link between inflation and inflation expectations alters with increasing central bank transparency.