Monetary Policy
Former Buba president takes job at Russian bank
The former head of Germany's Bundesbank, Ernst Welteke, who resigned in April last year after criticism for accepting a free hotel stay from a commercial bank, has been appointed independent board member at a bank in southern Russia, Russian media…
Top China economist calls for move on yuan
A top Chinese economist has said the country should make a modest revaluation of the yuan in an attempt to reduce some of the speculation over Beijing's intentions on the currency.
Russia to prevent sharp ruble growth this year
Russia's central bank head Sergei Ignatyev has said the bank will try to prevent sharp ruble growth this year.
Snow urges China move to flexible yuan
US Treasury Secretary John Snow said in an interview on Thursday 9 June that he is urging China to move to a more flexible yuan and would like to see more flexible exchange rates across Asia.
Tanigaki says China to benefit from currency move
Japanese Finance Minister Sadakazu Tanigaki told reporters on Friday 10 June that his recommendation was that the Chinese government scrap the yuan's dollar peg system.
Kenneth Rogoff appointed new adviser to Riksbank
Sweden's Riksbank appointed Professor Kenneth Rogoff of Harvard University as adviser to the Riksbank's Executive Board on Thursday 9 June.
Senate panel clears Bernanke's nomination
The US Senate Banking Committee on Thursday 9 June approved the nomination of Federal Reserve Governor Ben Bernanke to head the White House Council of Economic Advisers, sending it to the full Senate for a final vote.
ECB signs new premises contract
Lucas Papademos, Vice-President of the European Central Bank (ECB) signed the architectural contract for the optimisation phase of the new ECB premises in Frankfurt am Main on Thursday 9 June.
ECB Monthly Bulletin, June 2005
The European Central Bank published its June 2005 Monthly Bulletin on Thursday 9 June. The report says economic growth in the Eurozone will remain 'relatively subdued' in the second quarter of the year, but will pick up later.
RBNZ Monetary Policy Statement, June 2005
The Reserve Bank of New Zealand published its June 2005 Monetary Policy Statement on 9 June. RBNZ Governor Alan Bollard said the current review confirms what we said in the March Statement and again at the April OCR review.
EU's referendum failure leaves ECB as scapegoat
EU politicians in need of a scapegoat after the rejection of the proposed constitution may be tempted to cast the European Central Bank in that role, says this article. And recent comments from ECB policymakers suggest its defences may be about to crack,…
Greenspan says US economy on fairly firm ground
Federal Reserve Chairman Alan Greenspan told the US Congress on Thursday 9 May that the US economy seems to be on a "reasonably firm footing," with inflation under control.
Duisenberg rallies to defence of euro
Wim Duisenberg, the former president of the European Central Bank, on Thursday 9 June rejected a call from an Italian minister for the reintroduction of its own currency, saying in an interview that the country had had a big boost from the adoption of…
Canada's Dodge urges fast yuan float
Bank of Canada Governor David Dodge on Thursday 9 June urged China to move to a floating exchange rate system as soon as possible.
Bundesbank's Weber: Let us face up to the risks!
In the speech 'Let us face up to the risks!' given on 28 May, Axel Weber of the Deutsche Bundesbank said there is no contradiction between the reasonable performance of central banks in recent decades and the impression that they face formidable risks…
BIS on Globalisation and mon. policy independence
The BIS Paper "Has globalisation reduced monetary policy independence?" published 6 June says growing global financial integration has influenced monetary policy in important ways. Recent developments have shown, however, that, while many countries have…
SNB's Hildebrand on financial markets
In the speech 'Do financial markets promote responsible behaviour?' given on 21 May, Philipp Hildebrand of the Swiss National Bank said there are times in history when the world economy undergoes fundamental structural change. With the rapid integration…
BIS's Knight on emerging market economies
In the speech 'The role of the exchange rate in the monetary frameworks of emerging market economies' given on 27 May, Malcolm Knight of the BIS discusses the challenge of determining an exchange rate regime for emerging market countries undergoing rapid…
Trichet on asset price bubbles and monetary policy
In the speech 'Asset price bubbles and monetary policy' given on 8 June Jean-Claude Trichet of the ECB said experience with past asset price boom episodes tells us that we should be very careful in calling a boom, which is observable, a bubble.
Atlanta Fed's Guynn sees more US rate rises
Jack Guynn, president of the Federal Reserve Bank of Atlanta, said the US economy will be able to withstand further rate hikes as it is on a "solid" growth track.
IMF's Rato says euro is a big success
IMF managing director Rodrigo de Rato told a news conference on Wednesday 8 June that monetary policy in Europe isn't to blame for recent weak economic growth.
Wellink calls euro debate a 'non-discussion'
The Dutch central bank has slashed its forecast for economic growth this year to 0.4 pct from 1.7 pct, president Nout Wellink said in an interview with de Volkskrant.
US can't grow out of deficit, says Gramlich
The United States cannot grow its way out of its budget deficit problem despite recent improvement in budget and trade numbers, Federal Reserve Governor Edward Gramlich said on Wednesday 8 June.
Sweden's Heikensten: Incoming data important
Sveriges Riksbank Governor Lars Heikensten spoke on 31 May at a meeting in Tylosand organised by regional local authorities about the current economic situation and monetary policy .