Monetary Policy
RBNZ Financial Stability Report, May 2005
The Reserve Bank of New Zealand published its May 2005 Financial Stability Report on 17 May. Reserve Bank governor Alan Bollard commented: "The New Zealand financial system, overall, is well placed to weather a possible slowdown in the economy."
BoE's Bell on communicating monetary policy
In a speech on 'Communicating monetary policy in practice' given on 17 May, Marian Bell of the Bank of England said that in her experience the MPC is straightforward in its communications. The MPC doesn't spin, nor is it disingenuous.
Uganda's Opiokello on recent achievements
In the speech 'Bank of Uganda - recent achievements' given on 4 March (published 9 May), David Opiokello of the Bank of Uganda said recent achievements include the Bank successfully implementing automation of currency note processing and the RTGS has…
Japan's Tanigaki sees economy on steady recovery
Japanese Finance Minister Sadakazu Tanigaki said on Tuesday 17 May that he sees the world's second largest economy as steady on a recovery track as indicated by January-March gross domestic product data.
Kohn says Fed likely to keep upping rates
The Federal Reserve is likely to keep raising interest rates at a gradual pace, according to a senior Fed official.
China peg pressure unhelpful - PM Wen
China's prime minister Wen Jiabao rejected foreign pressure to reform the pegged currency system, telling a visiting US delegation on Monday 16 May that any policy change was a "sovereign" issue for China which would be resolved at its own discression.
BOK sees no shift on yuan rate for now
The Bank of Korea (BOK) said on Tuesday 17 May that China is unlikely to revalue the yuan against the US dollar anytime soon, as its economy depends largely on exports to boost growth.
Putting pressure on China's peg
A clamor of complaints from America's industrial heartland is galvanizing Washington into action, according to this article. But the big question is whether a stronger yuan will make much difference to the US economy, it says.
SARB, Monetary Policy Review, May 2005
The South African Reserve Bank published its Monetary Policy Review for May 2005 on 12 May. South Africa's inflation rate is expected to remain comfortably within its target range over the next two years, despite the negative impact of steep global oil…
Fukui on achieving strong economic growth in Japan
In a speech on 'Toward achieving strong economic growth in Japan' given on 13 May, Toshihiko Fukui of the Bank of Japan said the economy is expected to experience a long period of growth, although at a moderate pace.
Greenspan on leaving the Fed
In a speech given on 15 May Alan Greenspan of the Federal Reserve expressed his intention of leaving office when his current term ends in January next year.
Trichet says rates support growth, convergence
European Central Bank President Jean Claude Trichet said that lending rates at a six-decade low are ``appropriate'' and rejected finance ministers' concerns about economic divergences in the eurozone.
Ex BOJ official says may need policy shift
A former deputy governor of the Bank of Japan has said the bank should consider changing its policy of pumping cash into the economy and holding rates at almost zero because deflation is easing.
Central bankers begin Bulgarian conference
The National Bank of Bulgaria is hosting the Third annual conference of the central banks of the Balkan states on 16 and 17 May.
Snow repeats call for action on China peg
U.S. Treasury Secretary John Snow on Friday 13 May renewed pressure on China to let its currency trade freely, saying the United States has made clear it wants Beijing to move to a flexible exchange rate soon.
Iceland re-appoints central bank chief
The Prime Minister of Iceland has re-appointed Eirikur Gunason as Governor of the central bank for a term of seven years which began on 1 May.
PBOC's Zhou Xiaochuan on exchange rate reform
In a recently published interview Zhou Xiaochuan, Governor of the People's Bank of China, said we will make active and steady efforts to push ahead with the reform of the RMB exchange rate regime on a well-planned and step-by-step basis.
Parliamentary speaker nominated Estonia bank chief
The supervisory council of the Bank of Estonia on Tuesday 10 May nominated deputy parliamentary speaker Andres Lipstok as the new president of the Baltic country's central bank.
Bank Indonesia gets new deputy governor
Indonesia's Lower House of Parliament has unanimously appointed Siti Chalimah Fadjrijah as the central bank's new deputy governor in charge of bank supervision, replacing Aulia Pohan.
Uncertainty over new deputy governor in Kenya
The tenure of the deputy governor of the Central Bank of Kenya was uncertain this week after Dr Edward Sambili's contract ended on April 30, but no one had been appointed to take his place.
Fed's Ferguson on globalization
In a speech on 'Globalization: Evidence and policy implications' given on 12 May, Roger Ferguson of the Federal Reserve said central banks will not be coordinating monetary policy any time soon nor is it desirable.
Bergo on the Norwegian economy
In a speech on 'The Norwegian economy: possibilities and challenges' given on 12 May, Jarle Bergo of the Norges Bank said developments since the March Inflation Report was presented do not provide grounds for changing the perception of the state of the…
IMF opens new headquarters building
The International Monetary Fund will open its second headquarters building in downtown Washington, D.C. on 16 May. The new building, which is adjacent to the IMF's existing headquarters building at 700 19th Street, N.W. will house about 1,500 staff.
Bank of Canada Review, Spring 2005
The Bank of Canada published its Review for Spring 2005 on 12 May. The Review contains four articles including "Understanding China's long-run growth process and its implications for Canada". In addition to examining the determinants of China's past and…