Monetary Policy
BoC sees room to improve central bank committees
This article from Reuters, published Monday 12 February, looks at the recent paper "Monetary Policy Committees in Action: Is There Room for Improvement?" noting that central banks have shifted away from the "dictatorial" governor as decision maker, in…
Bank signals one more rate rise for 2007
The Bank of England implied on Wednesday 14 February that interest rates will be raised one more time in 2007, to 5.5%.
PBOC official says current rates 'appropriate'
The current level of Chinese interest rates is "still appropriate" given economic and financial indicators, a senior People's Bank of China official said in an interview published Tuesday 13 February.
Mexican central banker sees no need for rate hike
A vice-governor of Mexico's central bank wrote in an article Monday 12 February Mexican food price hikes have not pushed up inflation expectations enough to merit an interest rate hike.
RBA Statement on Monetary Policy, February 2007
The Reserve Bank of Australia published its February 2007 Statement on Monetary Policy on 12 February. In the report the RBA cut its inflation forecast for 2007, saying three interest-rate increases last year may have contained price pressures.
Canada paper on monetary policy committees
The Bank of Canada Working Paper "Monetary policy committees in action: Is there room for improvement?" reviews economic, experimental, sociological and psychological studies to identify criteria for the optimal institutional setting of a central bank…
Gono hits bull's eye
This article from the Financial Gazette, published Thursday 8 February, says the heated debate rages on after Reserve Bank of Zimbabwe governor Gideon Gono refused to budge an inch on devaluation.
Mishkin - the new face at the board of Governors
Malam Rietveld spoke with the newest governor of the Federal Reserve Board in Washington about the parallels between his academic work and policymaking
Interview: Edmund Phelps
The Nobel Laureate in conversation with Malan Rietveld
Nightmares of a central banker
According to this article published by the Ludwig von Mises Institute on Tuesday 6 February, the record of modern central banking is bleak, with monetary policy failing again and again.
ECB's Trichet flags rate increase with 'vigilance'
European Central Bank President Jean- Claude Trichet signalled the ECB will likely raise interest rates next month as the pace of economic growth threatens to stoke inflation.
BOJ in no hurry to raise rates says Haru
The Bank of Japan is in no hurry to raise short-term interest rates in the absence of an immediate inflation risk, BOJ board member Hidehiko Haru said in a speech Thursday 8 February.
Buba's Weber says ECB will do 'utmost' on prices
The European Central Bank and the eurozone's national central banks will do everything possible to ensure price stability in the euro area, Bundesbank president Axel Weber said Wednesday 7 February.
Germany's Steinbrueck backs ECB's independence
German finance minister Peer Steinbrueck said Wednesday 7 February that the independence of the European Central Bank, which has received criticism from some French politicians, must be respected.
Ito says BoJ must explain policy better
A member of the Japanese government's top economic council said on Monday 5 February in an interview with Reuters the Bank of Japan should promote accountability and transparency in its monetary policy as it has not been doing a good job in communicating…
Sweden's Rosenberg on current monetary policy
In the speech 'Current monetary policy' given on 5 February Irma Rosenberg of the Sveriges Riksbank said that since both the demand and supply sides of the Swedish economy are growing, the central bank sees inflation being held back in the future.
Monetary and exchange rate policy in Malaysia
The Working Paper "Monetary and exchange rate policy in Malaysia before the Asian crisis" from the Institute of Developing Economies provides a case study to characterize the monetary policy regime in Malaysia, from a medium- and long-term perspective.
Samoobrona candidate may join NBP board
According to Sunday 4 February's issue of Newsweek Polska, Andrzej Lepper, head of Self-Defence (Samoobrona), is looking forward to placing his candidate on the management board of the National Bank of Poland.
Pridiyathorn says BoT prevented crisis
M.R. Pridiyathorn Devakula, Thailand's finance minister, and former governor of the Bank of Thailand, has said expectations of dollar weakness have led to the heavy fund flows into other currencies, including the baht.
The RBI's Jekyll and Hyde act
This article from The Economic Times, published Monday 5 February, asks why the Reserve Bank of India's latest monetary policy review reads like a thriller but pulls up short at the last minute.
Monetary policy inertia and recent Fed actions
The Federal Reserve Bank of San Francisco's Economic Letter for 03-2007 describes and assesses two interpretations of recent monetary policy actions by the Federal Reserve.
BoE's Besley says data 'drip-feed' prompted hike
Bank of England MPC member Timothy Besley said in an interview with the Financial Times published Thursday 1 February he was concerned inflation would not fall as quickly as the bank would like.
Does inflation targeting matter for EMEs?
This Working Paper presents an empirical assessment of the performance of EMEs that have adopted inflation targets to conduct monetary policy.