Monetary Policy
Rates up in Norway and Malta, Poland steady
The central banks of Norway and Malta raised interest rates on 30 May, while rates remained unchanged in Poland.
The benefits of the SARB's transparency
This IMF Working Paper suggests that the increased transparency of monetary policy in South Africa since the late-1990s has helped to improve the accuracy of inflation and interest rate forecasts.
India's Reddy seeks lower inflation
Reserve Bank of India governor Y.V. Reddy says curbing inflation while managing the transition to a higher-growth path was the central bank's "overarching policy challenge."
South Africa's Mboweni outlines inflation threats
Tito Mboweni, the governor of the South African Reserve Bank, has identified union-driven salary disputes and increasing food and oil prices as the main threats to the current inflation outlook in the country.
Rates on hold in Canada, Slovakia and Malaysia
A number of central banks have announced this week that interest rates will remain unchanged. Rates will remain on hold in Canada, Slovakia and Malaysia.
Israeli rates cut again
The Bank of Israel has cut interest rates by 25 basis points to 3.5%. The decision, announced on 28 May, comes as inflation remains below the central bank's 1 to 3% inflation target.
Bini Smaghi on "secondary objectives"
In his speech 'With or Without Prejudice to Price Stability? , Lorenzo Bini Smaghi, a member of the Executive Board of the European Central Bank, discusses what the central bank can do to achieve its so-called secondary objectives of monetary policy.
The importance of monetary aggregates
This ECB working paper presents a strong argument in favour of using monetary aggregates as an analytical tool for predicting future inflation.
Germany defends ECB focus on money growth
Germany's Bundesbank has come out in stout defence of the European Central Bank, arguing that money supply figures - used by the ECB in making interest rate decisions - are helpful in identifying property market distortions.
Thai CB cuts rates again
In an effort to revitalise the economy, Thailand's central bank has cut interest rates for the fourth time since the start of 2007, reducing the one-day bond repurchase rate from 4% to 3.5%.
BoE contemplated 0.5% rate hike
The Bank of England considered raising interest rates by 50 basis points at the Monetary Policy Committee meeting of 9-10 May, the meeting's minutes showed.
Governors matter - new paper
This new working paper from the Peterson Institute for International Economics looks at whether or not monetary policy expectations are affected by the appointment of a new central bank governor.
Fed's Lacker: core inflation still too high
Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, said on 22 May that core inflation was still too high and rising expectations of future price pressures was a source of concern.
Riksbank board divided on rate hold decision
The Swedish Riksbank's monetary policy meeting was divided in its recent decision to leave the rate unchanged, according to reports.
SARB Monetary Policy Review, May 2007
The South African Reserve Bank published its Monetary Policy Review for May 2007 on Tuesday 15 May. South Africa's targeted inflation should remain within its range, but the target could be threatened by adverse developments and a poor response to past…
Danmarks Nationalbank, Monetary Review 1st Q 2007
The Danmarks Nationalbank's Monetary Review for the First Quarter 2007 says the strong upswing in the Danish economy has continued unabated.
Norway's Gjedrem on the conduct of monetary policy
In the speech 'The conduct of monetary policy' given on 10 May Svein Gjedrem of Norges Bank said the fall in prices for imported goods and services and the increase in export prices have provided the Norwegian economy with an appreciable income boost.
It's all down to Bollard to beat NZ's bubble now
According to this article published by The National Business Review on Friday 11 May, politicians have failed to do anything to rein in New Zealand's property boom, leaving it all up to Reserve Bank governor Alan Bollard.
Fukui on the outlook for Japan's economy
In the speech 'The outlook for Japan's economy and the conduct of monetary policy' given on 10 May Toshihiko Fukui of the Bank of Japan said the Bank will continue to explain carefully to the public its assessment of economic activity and prices and its…
Sweden's Rosenberg: Monetary policy communication
In the speech 'Changes in monetary policy communication' given on 11 May Irma Rosenberg of the Sveriges Riksbank described some changes in the communication of monetary policy, which were decided at the Executive Board meeting held on 10 May.
Code words not for King, but BoE can improve
According to this article published Thursday 10 May by Reuters, the gloss is starting to come off the Bank of England's reputation for managing interest rate expectations and keeping inflation under control.
NBH minutes show one member wanted rate cut
A single rate-setter on Hungary's 13-member Monetary Council voted in favour of a 25-basis-point rate cut at the MPC's 23 April policy meeting, the minutes published Friday 11 may showed. Changes to the Central bank Act will see a reduction in the number…
FOMC can stick again unless data changes
Without changes in economic data, the Federal Open Market Committee can leave US interest rates alone next month too, and may as well issue the same statement too, says John Berry of Bloomberg in this article published Thursday 10 May.
Trichet signals June rate rise with 'vigilance'
European Central Bank president Jean-Claude Trichet told the ECB's press conference Thursday 10 May that ``strong vigilance'' is required to contain inflation. A hint that interest rates will rise at the next meeting.