Central Banks
BoJ's Fukui says low rates for too long will hurt
Bank of Japan governor Toshihiko Fukui told a seminar in Tokyo Thursday 10 May that interest rates need to rise gradually despite Japanese prices responding slowly to strong global demand.
Fed hold rates but concerned on inflation
The Federal Reserve left US interest rates unchanged Wednesday 9 May and acknowledged that the economy is slowing.
Interview with Paul de Grauwe
In an interview with EurActiv, published Thursday 10 May, Paul de Grauwe warns that "ill-founded" and "dangerous" criticism of the European Central Bank by newly elected French president Nicolas Sarkozy could threaten monetary union.
PBOC says credit growth still too high
The People's Bank of China said in its first quarter monetary policy report, published Thursday 10 May, that credit growth remains too high and it needs to maintain a reasonable level of expansion.
ECB's Tumpel-Gugerell on making SEPA a reality
In the speech 'Making SEPA a reality - Involving the public sector in the Single Euro Payments Area' given on 8 May Gertrude Tumpel-Gugerell of the ECB said she is convinced that public administrations should remain competitive in an increasingly…
RBNZ Financial Stability Report, May 2007
The Reserve Bank of New Zealand published its May 2007 Financial Stability Report on 9 May. RBNZ governor Alan Bollard said that New Zealand's financial system has continued to be stable.
King and Co should do nothing either
According to this article from Bloomberg published Wednesday 9 May, there are plenty of reasons for the Bank of England to do nothing Thursday.
Bernanke and Co should do nothing
According to this article from John Berry at Bloomberg, published Friday 4 May, Federal Reserve officials will not change interest rates Wednesday amid conflicting evidence about where the US economy is headed.
Hungary to name NBH deputy by 1 July
Hungarian central bank (NBH) governor Andras Simor will name by 1 July who will be the central bank's second deputy governor, local newswire MTI reported on Wednesday 9 May.
IMF paper: Jordan's international reserve position
This IMF Working Paper uses several traditional measures of reserves adequacy to compare Jordan's reserve holdings with other emerging market countries.
RBA's Lowe on non-banks in the payments system
In the speech 'Non-banks in the payments system: A central bank perspective' given on 4 May Philip Lowe of the RBA said our approach to oversight has focused on the various functions involved in making a payment from one person to another.
Knight's term of office at BIS extended
The Board of Directors of the Bank for International Settlements (BIS) announced Monday 7 May that it has extended the term of office of the General Manager, Malcolm Knight, to mid-2009.
Federal Reserve appoints Inspector General
The Federal Reserve Board on Friday 4 May announced the appointment of Elizabeth A. Coleman as Inspector General for the Board, effective May 6.
PBOC's Zhou unsure on reserves trend
The governor of the People's Bank of China said in Switzerland Monday 7 May the outlook for China's foreign reserves remains unclear following a big increase in the Q1.
Some BoJ members urged gradual rate hike
Minutes released Monday 7 May showed some members of the Bank of Japan's board called on the BoJ to do a better job communicating its intention of raising interest rates only gradually and without any timetable set in advance.
BoC paper on new accounting standards
The Bank of Canada Discussion Paper "Implications of new accounting standards for the Bank of Canada's balance sheet" looks at the new accounting standards implemented by the CICA for the valuation and reporting of financial instruments.
RBA Statement on Monetary Policy, May 2007
The Reserve Bank of Australia published its May 2007 Statement on Monetary Policy on 4 May. In the report the RBA said risks to inflation are broadly balanced with underlying inflation expected to fall back to around 2.5% in the next few quarters.
ECB's Tumpel-Gugerell on modernising payments
In the speech 'Modernising payments: 'no pain - no gain'' given on 4 May Gertrude Tumpel-Gugerell of the ECB said Europe has already made significant progress on modernising the payment industry, with the SEPA project constituting a key driver for change.
Riksbank leaves rates unchanged at 3.25%
Sweden's Riksbank said Friday 4 May it would leave its key interest rate unchanged at 3.25% but said the rate should be raised gradually in the future and by more than the 0.25% it forecast in February.
China, Japan, Korea to pool some reserves - report
Bloomberg reported on Friday 4 May that China, Japan and South Korea have agreed to combine some of their foreign-exchange reserves in order to prevent any repeat of the crisis that hit Asia a decade ago.
Europe's central banks offloading gold
According to this article published Thursday 3 May by FMarena, with European central banks selling gold heavily recently, they might actually sell up to their quota.
Bank of England has much to discuss next week
With the Bank of England looking certain to raise UK interest rates next week, this article from Reuters, published Friday 4 May, looks at the main factors the MPC will be discussing.
NY Fed's Geithner says flexible rates better
Federal Reserve Bank of New York president Timothy Geithner said on Friday 4 May in a speech that flexible exchange rates allow emerging countries to handle global economic swings better.
Stock exchange chief urges BoT to cut rates
According to the head of Thailand's stock exchange, the central bank should cut interest rates faster to spur sluggish domestic spending and the flagging economy.