Monetary Policy
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…
Fed's Bernanke on the logic of monetary policy
In a speech on 'The logic of monetary policy' given on 2 December, Ben Bernanke of the Federal Reserve said that official short-term interest rates are not an accurate gauge of how much stimulus or restraint policy-makers intend because most decisions…
RBA paper: News and interest rate expectations
The RBA Discussion Paper "News and interest rate expectations: A study of six central banks" analyses the effect of news relating to the expected path of monetary policy on interest rate futures. Results suggest that the impact of the RBA's communication…
Former MPC member to oversee Blunkett inquiry
Sir Alan Budd, a former member of the Bank of England's Monetary Policy Committee, has been commissioned by John Gieve, the Home Office permanent secretary, to undertake an "urgent investigation" into claims that Home Secretary David Blunkett fast…
Iwata on the euro from a Japanese perspective
In a speech on 'The euro from the Japanese perspective' given on 19 November, Kazumasa Iwata of the Bank of Japan said the case of the euro serves as a good model of a combination of both market selection and political will. On the other hand, in Asia,…
Slovak government considers two to replace Jusko
The Slovak government is considering two candidates to replace outgoing National Bank of Slovakia (NBS) governor Marian Jusko, CTK news agency reported this week.
National Bank of Ukraine's Tyhypko resigns
The head of Ukraine's central bank, Serhiy Tyhypko, resigned from his position on Monday 29 November to engage in politics full-time.
Bank Negara Malaysia appoints assistant governors
Bank Negara Malaysia announced on Wednesday that it had appointed Encik Muhammad Bin Ibrahim and Puan Nor Shamsiah Yunus to the post of Assistant Governor, effective from 1 December.
Mizuno says zero-rate policy beating deflation
New Bank of Japan policy maker Atsushi Mizuno said on Friday 3 December that the BOJ's zero-rate policy is overcoming deflation and the bank must look at potential side effects of maintaining its stance.
China announces 'prudent' economic polices for 05
China announced on Thursday 2 December economic planning adjustments for 2005 that will change current "pro-active" fiscal and monetary policies into more "prudent" measures.
Koizumi, Schroeder may talk on dollar policy
Japanese Prime Minister Junichiro Koizumi may discuss U.S. currency policy with German Chancellor Gerhard Schroeder when the two meet on Dec. 8 during Schroeder's three-day visit to Tokyo, according to a spokesman for the Japanese foreign ministry.
BoE's King on facing up to uncertainty
In the speech 'What fates impose: Facing up to uncertainty' given on 1 December, Mervyn King, governor of the Bank of England said that transparency about what we know and what we don't know, far from undermining credibility, helps to build trust and…
Federal Reserve Board - Beige Book, December 2004
The Federal Reserve has published its December 2004 Beige Book survey. The report finds that the US economy kept expanding from mid-October to mid-November, picking up speed in several regions of the country.
Trichet says intervention is central bank 'weapon'
The Governing Council of the ECB decided to keep eurozone interest rates unchanged at its meeting on Thursday 2 December. Speaking at the post-meeting press conference ECB president Jean-Claude Trichet said the euro's recent appreciation, which pushed…
China unlikely to revalue the yuan soon
Expectations for the revaluation of China's yuan have become a hot topic in and outside China since October. This article looks at the situation and includes recent comments from officials at the People's Bank of China and Premier Wen Jiabao.
U.S. rates have to rise further says Fed's Yellen
Janet Yellen, the president of the San Francisco Fed said in a speech Wednesday many factors are restricting growth in the U.S. economy, creating "opportunities" for the Federal Reserve to pause from its path of steady rate increases.
Belgium against German plans on stability pact
In an interview published Thursday Belgian prime minister Guy Verhofstadt voiced his opposition to German plans on how to reform the rules governing the euro.
Estonians to vote on euro coin design
Estonians will have a chance to decide the appearance of the national side of their euro coins by a week-long telephone vote, due to start this weekend, the Bank of Estonia said Thursday 2 December.
Brazil minister calls for relaxed monetary policy
Brazil's Development, Trade and Industry Minister Luiz Fernando Furlan criticised the central bank's conservative monetary policy and expressed concerns over the impact on the economy of the strengthening of the real against the dollar, AFX News said.
ECB's Tumpel-Gugerell on financial integration
In a speech on 'Capital Markets and Financial Integration in Europe' given on 23 November, Gertrude Tumpel-Gugerell of the ECB said market-led initiatives are vital to make further progress in integrating the funding instruments for mortgages.
SNB's Roth on the Swiss franc and euro
In a speech on the ' Swiss franc and euro: Two sister currencies?' given on 19 November Jean-Pierre Roth of the Swiss National Bank said the introduction of the euro in 1999 constituted a real revolution for Europe and represented arguably the major…
Second high-level central bank seminar in Rio
The Second High-Level Seminar of the Eurosystem and Latin American Central Banks took place on Friday 26 November in Rio de Janeiro. The Seminar was hosted by the Banco Central do Brasil and jointly organised together with the European Central Bank and…
Trichet testimony: Oil price to dampen growth
In testimony to the European Parliament given on 30 November Jean-Claude Trichet of the ECB signalled that the bank is likely to lower its forecast for 2005 economic growth in the euro zone as the increase in oil prices impacts on consumer spending and…
No ECB comment on intervention talk
The European Central Bank declined to comment on reports coming out of Tokyo suggesting possible joint action with Japan on the foreign exchange market, AFX News said.