Central Banks
Stratthaus rejects Buba board membership
Gerhard Stratthaus, finance minister of the state of Baden-Wurttemberg, has declined to join the Bundesbank's board, according to the Financial Times Deutschland.
China needs more Volcker and less Greenspan
According to this article published Monday 1 May, China's recent increase in interest rates may have the opposite effect to what was intended. The move may boost the economy, instead of slowing it, it says.
Comment: Trichet sounds his warning
After having made it clear that an interest rate increase was highly unlikely, the ECB's monetary policy meeting this week was all about how to signal future rate hikes pencilled in for later this year. Jean-Claude Trichet's message yesterday, 3 May, was…
ECB signals June rate rise
At the ECB's post-meeting press conference, after holding eurozone interest rates unchanged, on Thursday 4 May Jean-Claude Trichet said the Governing Council will exercise strong vigilance in order to ensure that risks to price stability over the medium…
Vietnam to issue VND20,000 polymer notes
The State Bank of Vietnam (SBV) will issue VND20,000 polymer notes into circulation from May 17.
ECB warns on Sepa timetable
The European Central Bank has issued a raft of amendments to a draft Directive on harmonising payment services in the EU, and warned that any delays in adoption of the rules could wreck the proposed timetable for the introduction of a Single Euro…
RBA raises interest rates 0.25%
The Reserve Bank of Australia raised interest rates to a 5-year high of 5.75% on Wednesday 3 May. "The Board judged at its May meeting that inflationary risks had increased sufficiently to warrant an increase in the cash rate," RBA governor Ian…
Bernanke couldn't be clearer -- You hear that?
According to this article published on Wednesday 3 May, although virtually all reporters treat discussions at social events as being off-the-record, Ben Bernanke wasn't cautious enough about the ground rules when he chatted with journalists at the recent…
Issing's views return to fashion
Just as he prepares to leave the European Central Bank, Otmar Issing's views are coming into fashion, according to the article 'Issing's views return to fashion as he prepares to leave ECB' published on Wednesday 3 May.
Fed and ECB communications stumble
Things have gone somewhat awry the past month for major central banks which pride themselves on clear communications, this article published on Tuesday 2 May reports.
Gieve urged to resign from BoE
Sir John Gieve, deputy governor of the Bank of England, is being urged to resign following revelations of financial mismanagement at the Home Office, where he was permanent secretary, The Independent on Sunday reported on 30 April. The report said the…
Comment: Global impacts of US monetary policy
A recent ECB working paper finds that emerging markets stock markets returns can be reduced by more than 10% in response to a 100 basis point increase in US monetary policy rates. On average global equity markets fall by 3.8%.
SARB Financial Stability Review, March 2006
The South African Reserve Bank published the March 2006 edition of its Financial Stability Review on 3 May. In its latest report the SARB said the global economy continued to expand strongly during the second half of 2005, albeit at a slightly more…
Interview with IMF's Wanda Tseng
Wanda Tseng, deputy director at the IMF's Asia and Pacific department, said on Tuesday 2 May that China's decision to raise interest rates for the first time in 18 months is welcome but the country needs to let its currency move more freely.
A world out of balance
America’s deficits may not herald disaster says Angel Ubide, but should lead to questioning national monetary policy frameworks.
A strong case for regional monetary cooperation
Charles Wyplosz looks at how policy at the regional level can underpin efforts to unwind global imbalances.
East Asia’s policy dilemmas
Regional cooperation on exchange rates would suit East Asia, but poor relations between China and Japan mean it is unlikely, argues Yung Chul Park
Challenging the Washington Consensus
Blaming the other side is not the way for the major economic players to tackle global imbalances, says Richard Portes.
A few thoughts on the global situation
Policymakers around the world must act to restore order to the global economy says Jacques de Larosière.
The difficult choice of an inflation target
Although “headline” measures of inflation are more volatile than “core” measures, central banks are increasingly adopting them as targets. Stall writer Malan Rietveld finds out why.
A new way to manage commodity - based wealth
Rapid growth in the size and number of national commodity funds means a new approach to managing them is required, says Andrew Rozanov.
How to manage the 21st-century central bank
John Mendzela sets out the management practices central banks need to succeed in the future, and how to change successfully.
Central banks should close the governance gap
Central banks seem reluctant to adopt prevailing private-sector “best practice” in governance, but there are benefits in doing so says Jeremy Foster.
Fukui prepares to raise rates
Raising rates in Japan’s unbalanced economy will test Governor Fukui’s skills to the limit, says Andrew Smithers. But he is on the right track so far.