Monetary Policy
Stark says ECB policy still accommodative
European Central Bank chief economist Juergen Stark told Boersen-Zeitung in an interview to be published Thursday 1 February that eurozone monetary policy remains accommodative despite the 25 basis point December rate increase.
Norway's Bergo on interest rate projections
In the speech 'Interest rate projections in theory and practice' given on 26 January Jarle Bergo of the Norges Bank said the benefit of commitment hinges on the credibility of the central bank's actions and communication.
ECB policy still accommodating says Bini Smaghi
ECB board member Lorenzo Bini Smaghi said Saturday 27 January in a speech in Milan that current eurozone interest rates are still "accommodating" and will continue to be so in the coming months.
BoE's Blanchflower downplays 'dove' tag
Bank of England Monetary Policy Committee member, David Blanchflower, has attempted to downplay the market's view of him as an interest rate dove in an interview with the Guardian published Monday 29 January.
ECB's Trichet sees risk of inflation spiral
European Central Bank president Jean-Claude Trichet told French television there is a risk of an increase in inflation in the eurozone and noted that ECB rates are well below those of the US Fed.
Canada's Dodge on monetary policy & global economy
In the speech 'Monetary policy and developments in the global and Canadian economies' given on 25 January David Dodge of the Bank of Canada said prospects for the Canadian economy are solid for 2007 after sluggishness in the last half of 2006.
China:Strengthening monetary policy implementation
According to this IMF Working Paper, published January 2007, the People's Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks but their effectiveness will diminish as the sophistication of the economy increases.
The Bank of Japan's big mistake
According to this article by Stephen Roach, published on Friday 26 January by Money Week, the Bank of Japan has dealt a stunning blow to central bank independence.
ECB's Weber says rates must keep rising
ECB governing council member Axel Weber said on Friday 26 January must keep withdrawing monetary stimulus from the euro zone economy.
Kansas Fed's Hoenig on monetary policy in 2007
In the speech 'The national economy and monetary policy in 2007' given on 19 January Thomas Hoenig of the Federal Reserve Bank of Kansas City said there has been a discrepancy lately between the views of FOMC members, as summarised in the Committee's…
RBNZ's Bollard signals rates may rise
The Reserve bank of New Zealand said Thursday 25 January it will probably raise the benchmark interest rate from a record-high 7.25 percent because a surge in consumer spending and house prices may fuel inflation.
Interview with Bank of Japan's Fukui
In an interview with Reuters, published on Wednesday 24 January, Bank of Japan governor Toshihiko Fukui said he is not sure how quickly board members can agree on lifting rates.
Rates should rise if confident, says BoJ's Suda
The Bank of Japan needs to avoid spending too much time examining data and policy makers should raise interest rates as long as they're confident in the outlook for the economy, BoJ board member Miyako Suda said in a speech Thursday 25 January.
BoE's King on UK inflation and monetary policy
In a speech given on 23 January Mervyn King of the Bank of England said inflation in the UK could fall quite sharply this year and that there was room for reasonable people to disagree about the timing or level of interest rate changes. On Wednesday the…
Redrado on monetary policy in Argentina
In the speech 'Overview of monetary and financial policy in Argentina' given on 20 December Martin Redrado of the Central Bank of Argentina said the main obstacle to implementing inflation targeting is the small size of the financial system.
Minutes show BoE split 5-4 on rate increase
The Bank of England's Monetary Policy Committee voted 5-4 in favour of the surprise rate hike on 11 January, minutes of the meeting published Wednesday 24 January showed.
BoJ policymakers say rate rise is likely
A few Bank of Japan policymakers said the central bank should raise interest rates in January if it were to gain confidence about the economic outlook, according to minutes of the policy board's December meeting, which were released Tuesday 23 January.
Bini Smaghi says ECB rate may rise further
ECB board member Lorenzo Bini Smaghi told La Repubblica in an interview published Tuesday 23 January that the ECB's rate is "still accommodating" and may have to rise further if growth expectations are confirmed to avoid excess liquidity.
Chicago Fed's Moskow announces plans to step down
Federal Reserve Bank of Chicago president Michael Moskow confirmed on Monday 22 January he will retire on 31 August.
Stark on monetary policy: a view from the ECB
In the speech 'Objectives and challenges of monetary policy: a view from the ECB' given on 19 January Jurgen Stark of the ECB said the ECB retains the freedom to move interest rates whenever it considers it necessary to control inflation pressures,…
Why did the Bank of Japan freeze interest rates?
According to this article published by MoneyWeek on Monday 22 January, the Bank of Japan's decision last week to hold interest rates steady has unleashed a storm relating to its independence from political pressure.
Taking personalities out of monetary policy
The Working Paper 'Taking personalities out of monetary policy decision making? Interactions, heterogeneity and committee decisions in the Bank of England's MPC' from the Centre for Dynamic Macroeconomic Analysis identifies significant interactions…
Cleveland Fed's Pianalto on economic conditions
In the speech 'National and regional economic conditions' given on 18 January Sandra Pianalto of the Federal Reserve Bank of Cleveland said financial markets seem confident that the Federal Reserve will bring inflation back down, but there is a risk…
Bank of Canada Monetary Policy Report Update
The Bank of Canada released its January 2007 Monetary Policy Report Update on Thursday 18 January. Canada's economy will pick up this year and next, while global growth slows, according to the report.