Central Banks
India's Reddy seeks lower inflation
Reserve Bank of India governor Y.V. Reddy says curbing inflation while managing the transition to a higher-growth path was the central bank's "overarching policy challenge."
RBNZ's Bollard gets second term
New Zealand's finance minister, Michael Cullen, reappointed Alan Bollard for a second five-year term, the Reserve Bank announced.
South Africa's Mboweni outlines inflation threats
Tito Mboweni, the governor of the South African Reserve Bank, has identified union-driven salary disputes and increasing food and oil prices as the main threats to the current inflation outlook in the country.
Rates on hold in Canada, Slovakia and Malaysia
A number of central banks have announced this week that interest rates will remain unchanged. Rates will remain on hold in Canada, Slovakia and Malaysia.
Israeli rates cut again
The Bank of Israel has cut interest rates by 25 basis points to 3.5%. The decision, announced on 28 May, comes as inflation remains below the central bank's 1 to 3% inflation target.
Bini Smaghi on "secondary objectives"
In his speech 'With or Without Prejudice to Price Stability? , Lorenzo Bini Smaghi, a member of the Executive Board of the European Central Bank, discusses what the central bank can do to achieve its so-called secondary objectives of monetary policy.
The importance of monetary aggregates
This ECB working paper presents a strong argument in favour of using monetary aggregates as an analytical tool for predicting future inflation.
New Riksbank Financial Stability Report
The Swedish Riksbank released its latest Financial Stability Report on 24 May. The central bank concludes that "profitability of the Swedish banks has continued to rise" and that they are in "a good position to cope with unexpected negative events."
Germany defends ECB focus on money growth
Germany's Bundesbank has come out in stout defence of the European Central Bank, arguing that money supply figures - used by the ECB in making interest rate decisions - are helpful in identifying property market distortions.
Thai CB cuts rates again
In an effort to revitalise the economy, Thailand's central bank has cut interest rates for the fourth time since the start of 2007, reducing the one-day bond repurchase rate from 4% to 3.5%.
BoE contemplated 0.5% rate hike
The Bank of England considered raising interest rates by 50 basis points at the Monetary Policy Committee meeting of 9-10 May, the meeting's minutes showed.
Assessing financial soundness indicators
This paper analyses the relationship between selected macroeconomic and financial soundness indicators (FSIs) such as capital adequacy, asset quality and profitability.
Norwegian oil fund up 1.5%
Norway's Government Pension Fund - Global produced a total return on investment of 1.5% during the first quarter of 2007, which the Bank of Norway said was 0.09 percentage points above the benchmark set by the government.
What next from Chinese reserve managers?
These two articles analyse this week's announcement that the new agency managing part of China's $1.2 trillion in foreign reserves will buy a $3 billion stake in the American private equity firm, Blackstone Group LP.
Governors matter - new paper
This new working paper from the Peterson Institute for International Economics looks at whether or not monetary policy expectations are affected by the appointment of a new central bank governor.
Fed's Lacker: core inflation still too high
Jeffrey Lacker, president of the Federal Reserve Bank of Richmond, said on 22 May that core inflation was still too high and rising expectations of future price pressures was a source of concern.
SARB's Guma on SA debt market
In this speech, Dr X.P. Guma, the Deputy Governor of the South African Reserve Bank argues that sovereign debt markets will need to address the inability of adjacent emerging and developing to raise financing in their own currencies beyond their own…
A new RTGS system for Iraq
The Iraqi central bank has reportedly started with the implementation of a new electronic real-time gross settlement payment system.
Papers for Kansas Fed payments event
Non-banks are becoming increasingly prominent in payments systems around the world. The three-day conference look at the implications of this heightened presence for innovation, competition and risk.
Riksbank board divided on rate hold decision
The Swedish Riksbank's monetary policy meeting was divided in its recent decision to leave the rate unchanged, according to reports.
SARB Monetary Policy Review, May 2007
The South African Reserve Bank published its Monetary Policy Review for May 2007 on Tuesday 15 May. South Africa's targeted inflation should remain within its range, but the target could be threatened by adverse developments and a poor response to past…
Fed's Kohn on financial stability & policy issues
In the speech 'Financial stability and policy issues' given on 16 May Donald Kohn of the Federal Reserve said the explosive growth of the credit derivatives market has helped spread risks, but also created new channels to transmit shocks to the economy.
Greenspan joins Pimco in first post-Fed role
Former Federal Reserve chairman Alan Greenspan has signed on as a consultant to Newport Beach-based bond investment giant Pacific Investment Management, known as Pimco, the Wall Street Journal reported Wednesday 16 May.
Swaziland to introduce RTGS system
The Central Bank of Swaziland announced Wednesday 16 May that it will soon be introducing a Real Time Gross Settlement (RTGS) system at the beginning of June 2007.