Monetary Policy
Fed's Stern sees US rate rises continuing
Federal Reserve Bank of Minneapolis President Gary Stern sees no reason for the Federal Reserve to stop raising interest rates now as the economy expands at a desirable pace, a Japanese newspaper reported on Monday 20 June.
Villepin says ECB should include for ex concerns
France's Prime Minister Dominique de Villepin said the European Central Bank should incorporate foreign exchange concerns, and factor in the value of the euro on world currency markets, when setting monetary policy for the euro zone.
EMEAP central banks to boost economic security
The governors of central banks from 11 East Asian and Pacific countries agreed to build a regional financial security network and strengthen coordination in a bid to decrease financial vulnerability against external pressure.
ECB's Trichet on EMU and member countries
In closing remarks at the ECB Workshop "What effects is EMU having on the euro area and its member countries" on 17 June ECB president Jean-Claude Trichet stressed the importance of a more competitive economy in the eurozone, reminding member states of…
Opening remarks to the ECB's Workshop
In introductory remarks to the ECB's Workshop given on 17 June Gertrude Tumpel-Gugerell of the ECB said more cross-border mergers in the financial sector are likely to take place in Europe in the future, partly driven by the limits reached in domestic…
Bank of England Quarterly Bulletin, Summer 2005
The Bank of England released its Quarterly Bulletin Summer 2005, on 20 June. The Bulletin includes the article "The inflation-targeting framework from an historical perspective" which provides an historical perspective on the post-1992 inflation…
IMF's Rato on the global economy
In the speech 'Challenges and perspectives of the global economy' given on 16 June Rodrigo de Rato of the IMF said these are relatively good times for the global economy.
Bank of Guyana appoints new governor
Lawrence Williams has taken up his new appointment as Governor of the Bank of Guyana, indicating that the focus of the BOG would be "on fostering the development of the financial systems".
Richmond Fed announces promotion
The Federal Reserve Bank of Richmond this week named Terry Wright vice president, Check Services effective from 1 July.
Former Bundesbank chief Pohl joins bank board
Ahli United Bank (AUB) in Bahrain announced this week that former Bundesbank president Dr Karl Otto Pohl was to join the bank as board of directors senior adviser.
Interview with Bank Indonesia's senior deputy
In an interview published on Thursday 16 June, Miranda Goeltom, senior deputy governor at Bank Indonesia, said tighter central bank rules on foreign exchange trading unveiled by Indonesia this week are aimed primarily at stemming inflation and the weaker…
Finding a new captain for our economic ship
With speculation mounting as to who will succeed Alan Greenspan as chairman of the Federal Reserve, another article published this week comes up with the usual names, but also includes interesting quotes from central bank watching academics and a former…
ECB's Issing: A hawk a dove or just misunderstood?
This article looks at recent comments by European Central Bank chief economist Otmar Issing who has twice spooked financial markets in as many weeks by seeming to hint that an interest rate cut was possible some time in the future, it says.
BOK governor's trouble
Following Bank of Korea governor Park Seung's harsh criticism and calls for his his resignation this week, this article says the attack is likely to cause a stir as the law stipulates the BOK chief's four-year term to guarantee the central bank's…
Brazil's Lula says central bank chief to stay
Brazilian President Luiz Inacio Lula da Silva has said he will keep central bank President Henrique Meirelles in his post, denying a report in O Estado de S. Paulo newspaper that he was planning to replace the embattled central bank chief.
Bank of Korea governor urged to quit
Lawmakers this week called for Bank of Korea governor Park Seung to take "full responsibility" and resign following recent comments he made.
IMF Paper: Latin American central bank reform
The IMF Working Paper "Latin American central bank reform: Progress and challenges" published June 2005 takes stock of the institutional reform of monetary policy in Latin America since the early 1990s.
Deutsche Bundesbank Monthly Report, May 2005
The Deutsche Bundesbank published the English version of its May 2005 Monthly Report on 16 June. The report said the ECB's monetary policy does not pose an obstacle to economic growth in Germany, where the pace of recovery is slowing down in the second…
Bulgarian & Romanian governors attend ECB meeting
The European Central Bank has said that the governors of the Bulgarian National Bank and National Bank of Romania attended the meeting of the ECB's General Council on Thursday.
Comments by BoE's Nickell on OECD Paper
In a recent paper two OECD economists say "the absence of monetary policy autonomy seems to be associated with lower structural reform activity in large, more closed economies". Stephen Nickell commented on the paper at an ECB conference on Friday 17…
Bank of Japan Monthly Report, June 2005
The Bank of Japan published the English version of its June 2005 monthly report on Friday 17 June. In the report the BOJ said the economy continues to recover because of higher capital investment and consumer spending.
Hoenig says Fed aiming for neutral rates
The Federal Reserve should raise interest rates toward a neutral level of 3.5 to 4.5 per cent and get there "sooner rather than later" in the face of strong growth, a top Fed official said on Thursday 16 June.
Bank Indonesia to host central bank meeting
Bank Indonesia will host the 10th Executive Meeting of East Asia Pacific Central Bank (EMEAP) to be held Bali from June 18 to 19.
ECB's Issing says EMU needs political support
European Central Bank Chief Economist Otmar Issing said steady political support from all euro zone members will be necessary to guarantee the success of a single monetary policy for the area.