Monetary Policy
Southern Africa targets 2016 for monetary union
Countries within the 13-member Southern African Development Community (SADC) have decided to achieve monetary and economic union by 2016, South African Reserve Bank governor Tito Mboweni said on Monday 28 February.
China sets route to currency reform
China will gradually open its capital account in 2005, another step in its plan to make the yuan currency fully convertible, state television quoted the country's foreign exchange chief as saying on Saturday.
Rosen takes over at CEA
The White House announced on Wednesday 23 February that Harvey Rosen, a member of the White House Council of Economic Advisers, will take over as CEA chairman from the departing Greg Mankiw.
RBI's Reddy on monetary policy: An outline
In the speech 'Monetary policy: An outline' given on 12 February YV Reddy of the Reserve Bank of India said the conduct of monetary policy is complex. It has not only to be forward looking but also to grapple with an uncertain future.
IMF's Rato on global imbalances and global poverty
In a speech given on 23 February Rodrigo de Rato of the International Monetary Fund said global imbalances stemming from the mounting US current account deficit are a threat to the stability of the international financial system and require action to…
Atlanta's Guynn on importance of price stability
In a speech on 'The importance of price stability' given on 23 February, Jack Guynn of the Federal Reserve Bank of Atlanta said he expects the national economy to grow by 3 per cent to 4 per cent in 2005, but policymakers need to keep a close eye on…
RBA's Edey on the Australian economy
In a speech given on 25 February Malcolm Edey of the Reserve Bank of Australia reiterated the RBA's recent stance that demand would continue to encourage growth and also acknowledged that inflation had outstripped the central bank's expectations.
A head for the World Bank
The process of choosing a new leader for the World Bank is devoid of much transparency, something the bank likes to preach, according to this article. With leaders traditionally being American, and chosen in secrecy by the American president, the…
Hungary's new Monetary Council members appointed
Hungary's President Ferenc Madl has appointed the new members of the Monetary Council. Judit Nemenyi, Tamas Banfi, Peter Bihari and Csaba Csaky will become members of the council from 1 March.
French finance minister resigns over apartment
Herve Gaymard, the French finance minister, resigned on Friday 25 February following revelations about his state-funded luxury apartment.
Report says China peg impact overstated
Research published by the Federal Reserve Bank of Cleveland on Thursday 24 February said that China's exchange rate peg to the dollar has had less of an impact on its trade surplus with the United States than many observers have assumed.
Central Bank of Iraq aims for monetary stability
According to AZZAMAN newspaper, the Central Bank of Iraq has announced that it intends to fight inflation and achieve monetary stability in Iraq following a noticeable increase in prices over the past few months.
Measured rate rises working- Fed's Bernanke
Federal Reserve Governor Ben Bernanke said on Thursday 25 February that with US inflation controlled the Fed can continue with its policy of gradual interest rate increases.
Paraguay to implement electronic payment system
Paraguay's central bank (BCP) plans to implement an electronic payment system costing US$5mn in order to facilitate the flow of documents with other public bodies, local newspaper La Nacion reported.
Sri Lanka's Mendis on central bank governance
In a speech given on 29 January (published 11 Feb) Sunil Mendis of the Central Bank of Sri Lanka said the strategic plan of a central bank should be formulated in such a way that it strategically links its goals, objectives and action plans to the…
BoE's Lomax: Mon. stability matters to Merseyside
In the speech 'Why monetary stability matters to Merseyside' given on 24 February Rachel Lomax of the Bank of England said the Bank sees a rebound in household spending and may not be able to wait before increasing interest rates.
Federal Reserve Minutes from Feb meeting
Minutes from the Federal Reserve's 1 and 2 February meeting published on Wednesday 23 February revealed broad agreement among members of the Federal Open Market Committee on the need for further rate increases to prevent accelerating inflation.
PBoC will 'actively promote' exchange rate reform
The People's Bank of China said in a report released on Thursday 24 February that it will "actively promote" reform of the exchange rate regime this year.
ASEAN currency swap deal extended
Central bankers from the Association of Southeast Asian Nations signed an agreement on Thursday 24 February to extend until 2006 a currency swap deal intended to help ASEAN members experiencing international liquidity problems.
RBI's Udeshi on the pursuit of financial stability
In a speech on 'The pursuit of financial stability' given on 10 February, Smt. KJ Udeshi of the Reserve Bank of India said India's banking regulator will continue to focus greatly on financial stability, considering that the country is more vulnerable to…
Philadelphia Fed Business Outlook Survey, Feb 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, February 2005, expansion in the region's manufacturing sector is growing at a slightly faster rate than in January.
BoE's Bean: Monetary policy in an uncertain world
In a speech on 'Monetary policy in an uncertain world' given on 22 February, Charles Bean of the Bank of England said that uncertainty is an ever-present feature of the economic landscape that monetary policy makers cannot escape.
Bank of England MPC Minutes, 9 &10 February
The minutes from the 9 &10 February meeting of the Bank of England's Monetary Policy Committee published on Wednesday 23 February showed eight members voted to hold interest rates unchanged, with Paul Tucker voting against, preferring a rise in the repo…
Fukui says reserve target assessment in April
Bank of Japan Governor Toshihiko Fukui said Wednesday 23 February the central bank will decide after April if its target for reserves available to lenders is appropriate, adding that the policy of pumping funds into the economy will be maintained.