Central Banks
BIS' White on financial globalisation
In the speech 'Financial globalisation' given on 19 June William R White of the BIS said the globalisation of financial markets provides both enormous opportunities and enormous challenges.
Comment: Bernanke's ally
The nomination of Frederic Mishkin to fill one of the two vacant seats on the Fed's board of governors will bolster the chairman, Ben Bernanke, in his attempts to quantify the central bank's inflation objective and move towards a more rule-based monetary…
Report says BOJ likely to start raising rates
The Bank of Japan is expected to start raising interest rates this month or next, a news report said Monday 3 June.
Mishkin nominated to Fed board
US president Bush nominated Frederic Mishkin, a professor at Columbia University, to join the Federal Reserve Board on Friday 30 June.
Hildebrand's reflections on the gold market
In the speech 'Reflections on the gold market' given on 26 June Philipp Hildebrand of the Swiss National Bank said even if gold has lost its role as an anchor for the international monetary system, it does not mean that it has become a commodity like any…
Jenkins on what monetary policy can & can't do
In the speech 'What monetary policy can and cannot do' given on 29 June Paul Jenkins of the Bank of Canada said the Bank of Canada's economic projections from its April monetary policy report are still reasonable despite a recent string of strong…
Fed raises rates, suggests may be nearing end
The Federal Reserve raised US interest rates to the highest point in more than five years Thursday 29 June and suggested the rate hike cycle may be nearing the end.
Iceland appoints new central bank governor
Ingimundur Fririksson was appointed governor of the Central Bank of Iceland on Thursday 29 June.
Fukui, would-be Greenspan of Asia, replaceable
According to this article from Bloomberg published Friday 30 June, Bank of Japan governor Toshihiko Fukui was urged to become the "Greenspan of Japan, if not Asia" soon after he began running the BOJ in 2003.
ECB paper on monetary policy
The ECB Working Paper "Adaptive learning, persistence, & optimal monetary policy" shows that, when private sector expectations are determined in line with adaptive learning, optimal policy responds persistently to cost-push shocks.
BoE's King criticises MPC appointment process
Bank of England governor Mervyn King on Thursday 29 June took aim at the "very much last minute" way in which members were appointed to the Monetary Policy Committee by Chancellor of the Exchequer Gordon Brown.
Fernandez Ordoez nominated as Bank of Spain chief
Spain's finance minister, Pedro Solbes, proposed Miguel Angel Fernandez Ordonez as the new governor of the Bank of Spain on Wednesday 28 June.
Hong Kong unlikely to use yuan as reserve currency
The Hong Kong Monetary Authority is unlikely to use the yuan anytime soon as one of its reserve currencies, HKMA chief executive Joseph Yam said Thursday 29 June.
Sao Tome government fires central bank governor
The government of Sao Tome and Principe has dismissed the governor of the country's central bank, the macauhub.com website reported on Wednesday 28 June.
Consultation paper on Payments System Risk Policy
The Federal Reserve has published a consultation paper to seek information from financial institutions and other interested parties on their experience in managing intraday liquidity, credit, and operational risks relating to Fedwire funds transfers and…
Federal Reserve expected to raise rates
Federal Reserve policymakers were widely expected to finish a two-day meeting on Thursday 29 June, by raising US interest rates for the 17th consecutive time to 5.25 percent.
Srejber on monetary policy & inflation-targeting
In the speech 'Should monetary policy subdue inflated high debts and asset prices in an inflation-targeting regime?' given on 28 June Eva Srejber of the Sveriges Riksbank said the Swedish central bank is not hamstrung by its practise of inflation…
Bank of Canada appoints Special Adviser
The Bank of Canada announced Wednesday 28 June the appointment of Professor Steve Ambler to the position of Special Adviser for the year 2006-07. The Special Adviser position was created to bring additional perspectives to monetary policy discussions.
Comment: Passing the buck
The current outcry over American intelligence officials' access to private information linked to international money transfers has raised some thorny issues over who regulates the international messaging and financial telecommunications group, SWIFT.
Philippines central bank to reduce policy meetings
The central bank of the Philippines has decided to hold its monetary policy-setting meetings every six weeks starting July, instead of every four weeks.
Sri Lanka appoints new central bank governor
Effective from Thursday 22 June Presidential Advisor on Economic Affairs and Secretary to the Ministry of Plan Implementation Ajith Nivard Cabraal became the new governor of the Central Bank of Sri Lanka.
King, robed in red, given Cambridge's top honour
According to this article, Bank of England governor Mervyn King was due to receive Cambridge University's highest honour on Tuesday 27 June.
Fed confronts failure to comprehend
According to this article from Bloomberg published Tuesday 27 June, five months into the term of Ben Bernanke at the Fed he and his colleagues haven't figured out how to get financial markets to understand what they are trying to do with monetary policy.
RBA paper on optimal monetary policy
The RBA Discussion Paper "Optimal monetary policy with real-time signal extraction from the bond market" sets up a model where the central bank uses real-time data from the bond market together with standard macroeconomic indicators to estimate the…