Central Banks
Taylor inertia conundrum solved?
Inertia in the Taylor rules on interest rates could be down to inertia in the economy itself, argues research published by the Centre for Economic Policy Research.
Fed releases first revamped economic projections
The Federal Reserve on Tuesday published the first of its revised economic forecasts as part of the minutes of the 31 October rate-setting meeting.
Zhou parries appreciation calls
Zhou Xiaochuan, the governor of the People's Bank of China, said that the central bank could widen the renminbi's trading range if deemed necessary.
G20 predicts "modest" global slowdown
Central bank governors and finance ministers from the G20 economies said that the credit turmoil would likely have a "modest" effect on global growth, but added that it remained difficult to judge the eventual impact.
Northern Rock stock falls on bid comments
Shares in Northern Rock, the mortgage lender, plummeted 19% on Monday after it revealed takeover bids were worth less than the company's stock market value at the Friday close.
Koruna's rise unsustainable - Czech's Tuma
Zdenek Tuma, the governor of the Czech National Bank, has described the koruna's appreciation against the euro and dollar as unsustainable.
Simple rate rules deemed most effective
Simple interest rate rules which include a response to money growth outperform both Taylor-type rules and speed limit policies once real-time output gap uncertainty is accounted for, research published by the Bundesbank finds.
Sweden on course to hit 2% target - Ingves
Swedish inflation should be in line with the Riksbank's 2% target in two years time, says Stefan Ingves, the governor of the central bank.
US subprime conditions set to worsen - Kroszner
Randall Kroszner, a governor of the Federal Reserve, warned on Friday that conditions in the US mortgage market had yet to reach rock bottom. Speaking in New York, Kroszner said that there were two reasons why he believed market conditions would worsen:…
Russia plays safe with fund investment
Russia's Oil Stabilisation Fund will stick to investing in highly-rated bonds until the fund's restructuring is complete early next year, officials said on Thursday.
Fed makes biggest injection since 9/11
The New York Federal Reserve injected $47.25bn on Thursday, the biggest daily amount since 19 September 2001, but got most of it back as previous repos matured.
Nicaragua's Bolaos gloomy on inflation forecast
Antenor Rosales Bolaos, the president of the Central Bank of Nicaragua, said on Thursday that inflation is set to rise over the next few months because of adverse weather conditions.
Australia in good shape to weather subprime
Warwick McKibbin, a board member of the Reserve Bank of Australia, expects the country's economy to remain buoyant in spite of the recent market turmoil.
Japanese minutes reveal upbeat forecast
The minutes for the Bank of Japan's monetary policy committee meeting on 10 and 11 October present a positive outlook for the country's economy.
Italy's Visco pushes for global cooperation
Global cooperation and coordination are the only ways to deal with systemic events that have the potential to wreck the global financial system, says Ignazio Visco, the chief economist at the Bank of Italy.
Abed tips deputy Al-Wazir for PMA governor
George Abed, the former governor of the Palestine Monetary Authority (PMA), told Central Bank News on Wednesday that he expects Jihad al-Wazir, the deputy governor and current acting governor, to succeed him.
US Treasury official voices SWF stability fears
Sovereign wealth funds pose a threat to financial stability, says David McCormick, the under secretary for international affairs at the US Treasury.
Growth slowdown to follow crunch: Japan's Fukui
Toshihiko Fukui, the governor of the Bank of Japan, said he expected global growth to fall to 5% this year as a result of the financial turmoil.
Philippines cuts rates to 15-year low
The Central Bank of the Philippines's rate-setting board voted on Thursday to lower its benchmark key policy rate to 5.5%, the lowest level for 15 years.
Turkey votes for another 50bp cut
The Central Bank of Turkey's rate-setting committee cut the benchmark overnight borrowing rate by half a percentage point to 16.25% on Wednesday.
Central banks: the gorillas of foreign exchange
Chris Turner, the head of foreign exchange strategy research at ING wholesale banking in London, evaluates the possibility of sterilisation by central banks next year
We're half-way to normal, says UK's King
Presenting the Bank of England's Inflation Report for November, Mervyn King, the governor of the Bank, said that key indicators of stress in financial markets had recovered partly from the levels reached in August and September but that the situation was…
Fed to offer more insight into decision making
The Federal Reserve is to give the public more insight into how the rate-setting Federal Open Market Committee (FOMC) decides on monetary policy.
Estonia dismisses currency claims
The Bank of Estonia on Monday denied rumours that it was set to devalue the kroon, which is pegged to the euro.