Monetary Policy
IMF says Germany's budget aims 'challenging'
The International Monetary Fund (IMF) has warned in a report that Germany's budget deficit could breach EU rules in 2005 if additional economic measures are not taken by the government.
BOT chief says economy continues to grow
The Governor of the Bank of Thailand (BOT), M.R. Pridiyathorn Devakula, said on Tuesday 2 November that the Thai economy had continued to expand satisfactorily despite the downward revision of economic growth estimate.
Norway's central bank leaves key rate unchanged
Norway's central bank announced Wednesday 3 November that its key interest rate would remain unchanged at a record low 1.75 per cent.
Minutes from the Sveriges Riksbank Meeting, 13 Oct
Minutes from the Sveriges Riksbank Executive Board meeting on 13 October showed that the board was unanimous in its decision to leave the repo rate unchanged at 2 per cent.
Sweden's Srejber on the future of the economy
In the speech 'Is there reason for confidence in the future of the economy?' given on 21 October Eva Srejber of the Sveriges Riksbank said the positive effects of sustainable long-term growth, combined with the opportunities offered by continued…
BoJ Outlook: Economic Activity & Prices, Oct 2004
The Bank of Japan published its October 2004 Outlook for Economic Activity and Prices report on 1 November. The report says that core consumer inflation should "increase slightly" in the year to March 2006 but warned oil prices and other uncertainties…
Denmark's Thomsen at the 3rd ECB Conference
In a speech to the 3rd ECB Central Banking Conference given on 22 October Jens Thomsen of the Danmarks Nationalbank said theoretically, inflation targeting in ERM II presents an additional complication in that the impact of the national interest rate…
Presidential victor replaces Greenspan
This article argues that for whoever wins the US presidential election, choosing a successor to Federal Reserve chairman Alan Greenspan may be the biggest economic choice that the election victor will face. Kerry may go for Robert Rubin or Lawrence…
Tanigaki: govt. must consider BoJ's deflation view
Japanese Finance Minister Sadakazu Tanigaki said on Tuesday 2 November that the government will need to consider the Bank of Japan's outlook for an end to deflation in 2005 when formulating future economic policies.
Santomero says Fed's regional diversity important
Federal Reserve Bank of Philadelphia President Anthony Santomero made no comment on the economy or the outlook for interest rates at an event at the Philadelphia Stock Exchange on Monday 1 November but said the Fed's regional diversity helped ensure…
BoJ to take time on ending ultra-loose policy
Bank of Japan Governor Toshihiko Fukui said on Tuesday 2 November that the central bank will take its time in determining the time to abandon the current ultra-loose monetary policy.
Korea's central bank to restructure
The Bank of Korea (BOK) is to revamp its internal structure in an apparent bid to repair its reputation as an influential voice in the nation's economy, the Korea Times reported Tuesday.
Trends in money market operations
How will the Bank of England’s new system compare with the frameworks used by the ECB and other leading central banks? Central Banking looks at recent changes.
London’s new model money markets
Bill Allen, who retired last year as director for Europe at the Bank of England, discusses the Bank’s recent plans to change how it sets interest rates.
Mexico on an upswing
Mexico’s inflation has come down and the economy has recovered sharply, but can the central bank keep up the good work? Benedict Mander reports.
Turkey gains monetary credibility
Nick Carver reports on Turkey’s struggle for monetary credibility and its plan to celebrate with a new lira: is it too good to be true?
News Analysis: Chinese central banker calls on the Fund to adjust
More countries should have a meaningful say at the IMF, according to Li Ruogu.
News Analysis: Key insight embodied in new technology
Following the news that this year’s winners of the Nobel prize for economics are Finn Kydland and Edward Prescott, Paul Brione spoke with Edward Prescott, who currently works at the Federal Reserve Bank of Minneapolis. Here is his report on their…
How Nobel prize winner changed central banking
Edward Prescott, recent recipient of the Nobel prize for economics, spoke to Central Banking's Paul Brione about the monetary policy research which won him the prize. CentralBankNet brings you an exclusive extract.
Fed's Ferguson on equilibrium real interest rate
In a speech on 'Equilibrium real interest rate: Theory and application' given on 29 October, Roger Ferguson of the Federal Reserve said that policymakers cannot rely on a formula to decide the proper level for U.S. interest rates, but must always judge…
Buba's Weber on the state of European integration
In the speech 'State and challenges of the European integration' given on 25 October Axel Weber of the Deutsche Bundesbank said we have a good prospect of dealing successfully with the growing diversity of the EU economy after enlargement if monetary,…
Sweden's Heikensten at the Riksdag Committee
In a speech on monetary policy given to the Riksdag Committee on Finance on 14 October, Lars Heikensten of the Sveriges Riksbank said as the economic upturn progresses and resource utilisation increases further, it is reasonable to assume that monetary…
Fukuma on recent economic developments in Japan
In a speech on 'Recent economic and financial developments in Japan' given on 30 September Toshikatsu Fukuma of the Bank of Japan said growth in Japan this fiscal year will exceed the central bank's 3.1 percent forecast as the Japanese economy heads…
IMF paper on the art of central banking
The IMF working paper 'Deconstructing the art of central banking' proposes a significantly different transmission mechanism from monetary policy to the macroeconomy, focusing on how policy changes nominal inertia in the Phillips curve. The authors find…