Monetary Policy
Fed's Bies on factors in risk management
In the speech 'It's not just about the models: Recognizing the importance of qualitative factors in an effective risk-management process' given on 7 December, Susan Bies of the Federal Reserve said mathematical investment models are not enough on their…
Tanenaka says view of Japan's economy not changed
After the Japanese government revised the country's third-quarter gross domestic product, Economic and Fiscal Policy Minister Heizo Takenaka said Japan hasn't changed its view that the economy is recovering.
ECB's Issing reassures on eurozone growth
The European Central Bank's chief economist Otmar Issing insisted in an interview published on Wednesday 8 December, that Eurozone growth would recover from its current lull next year.
Mboweni prefers 'competitively' priced ex rate
Addressing the annual dinner in honour of the ambassadors and high commissioners to South Africa, Tito Mboweni said: "We neither prefer a weak rand nor an overvalued exchange rate. We prefer a competitively priced exchange rate."
ECB's Tumpel-Gugerell on global exchange rates
In a speech on 'Exchange rate moves in a global economy: a central banking perspective' given on 3 December, Gertrude Tumpel-Gugerell of the ECB said policies aimed at fostering macroeconomic stability should frame discussions between countries, and this…
China's Xiaochuan on gold market & risk hedging
In a speech on 'Gold market functions to hedge against risks' given on 6 September , Zhou Xiaochuan of the People's Bank of China said we see as central bankers, that a developed gold market can help to complement the monetary policy instruments and…
BIS Quarterly Review, December 2004
Improved macroeconomic data and the stabilisation of oil prices encouraged investors to become more optimistic about the strength of the global economy, the Bank for International Settlements (BIS) said in its Quarterly Review, December 2004.
Denmark's Andersen on financial markets
In a speech given on 1 December, Bodil Nyboe Andersen of the Danmarks Nationalbank said that Denmark is now harvesting the fruits of more than 20 years' stability-oriented economic policy during which major structural reforms have been implemented.
Bank of Canada leaves interest rates unchanged
The Bank of Canada announced on Tuesday 7 December that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent.
Korea's deputy PM calls for rate cut
Korea's Deputy Prime Minister for Finance and Economy Lee Hun-jai is reported to have urged the Bank of Korea to cut interest rates two days before the central bank is due to meet.
PBOC's Zhou says rigid ex rates pose 'huge risks'
Governor Zhou Xiaochuan of the People's Bank of China said the country's currency peg is a hazard for banks and companies, according to a published report.
BOJ's Iwata sees strong business investment in 05
Kazumasa Iwata, one of the Bank of Japan's two deputy governors, told a conference in Sydney that business investment in Japan was strong and will increase next year.
ECB and finance cheifs issue euro warning
The head of the central bank, Jean-Claude Trichet, joined the chairman of the 12 Eurozone finance ministers at a news conference to reinforce the message of a written statement.
Bundesbank lowers German growth forecast
The Bundesbank has revised downwards its forecast for growth of the German economy next year to 1.2-1.3% from an earlier prognosis of 1.5% strength of the euro hits exports from the eurozone's largest economy.
Implementing Basel II in Europe
In Europe, the task of ensuring a smooth transition to the Basel II capital rules for banks falls on the new Committee of European Banking Supervisors (CEBS). Neil Courtis spoke to CEBS chairman, Jose Maria Roldan, for CentralBankNet.
Philadelphia Fed's Santomero on global economy
In a speech on 'Challenges and opportunities in a global economy: Perspectives on outsourcing, exchange rates, and free trade' given on 3 December. Anthony Santomero of the Federal Reserve Bank of Philadelphia said the US economy should grow about 4 per…
Sweden's Heikensten on inflation outlook
Sveriges Riksbank governor Lars Heikensten spoke at a meeting organised by Handelsbanken in Gothenburg on 30 November about the current economic situation and monetary policy. In the speech he said that over the past year the Riksbank has held a positive…
Boston Fed's Minehan on November job report
The president of the Federal Reserve Bank of Boston told a conference on globalisation on Friday 3 December that the November unemployment report was "somewhat disappointing".
Issing says factors for stronger growth 'in place'
European Central Bank Chief Economist Otmar Issing said in an interview published on Monday 6 December that the surge in oil prices hasn't prompted labor unions to raise their wage demands, and eurozone inflation is expected to fall back below 2 per cent…
No plan to divert from U.S. dollar-Japan's MOF
Japan, the biggest overseas holder of U.S. Treasuries, has no plan to divert from dollar-denominated assets, said Masatsugu Asakawa, a Ministry of Finance official.
ECB announces changes in senior management
The Executive Board of the European Central Bank announced on Thursday 2 December that it has decided on some changes in senior management at the ECB.
Interview with San Francisco Fed's Yellen
In an interview published this week, president of the Federal Reserve Bank of San Francisco Janet Yellen says in her spare time she enjoys running, and has run a few half-marathons. She describes her time at the White House as exciting and interesting…
The man who shaped the Federal Reserve
A new biography, "Chairman of the Fed: William McChesney Martin Jr. and the Creation of the Modern Federal Reserve System tells Martin's story as Fed chairman from 1951, when over the next 19 years, it says, he employed a combination of diplomacy,…
The shortest year of my life: Zimbabwe's Gono
It is one year since Gideon Gono took office as governor of the Reserve Bank of Zimbabwe. This article looks back on Gono's first year and quotes him as saying "It has been one of the shortest years I've ever had to live in my 45 years of existence. The…