Central Banks
ECB says rates are boosting growth
European Central Bank president Jean-Claude Trichet told a press conference Thursday 12 April the ECB's interest rates are still boosting economic growth after seven increases since late 2005, leaving open the possibility of a further move.
Fed minutes show core inflation as policy risk
Federal Reserve officials on the Federal Open Market Committee continued to view the current rates of core inflation as "uncomfortably high" at their meeting last month, according to minutes released Wednesday 11 April.
SARB says SA credit not immediately inflationary
South Africa's central bank governor Tito Mboweni said on Thursday 12 April the country's household spending and credit were not immediately inflationary but warned that bank lending remained "uncomfortably high".
China's FX reserves past $1.2T
China's foreign reserves have risen past $1.2 trillion, a state news agency said Thursday 12 April, amid surging trade and plans to create a multibillion-dollar company to invest some of the stockpile.
BOK says economy on modest growth track
The Bank of Korea left its key short-term rate unchanged at 4.5 percent on Thursday 12 April saying it expected the economy to maintain modest growth on recovering domestic consumption.
IMF Global Financial Stability Report, Apr 2007
The International Monetary Fund published its Global Financial Stability Report for April 2007 on 10 April. In the report the IMF said the stability of the global financial system is being bolstered by favourable economic conditions, but some financial…
BOJ's Inaba warns on low short-term rates
Short-term interest rates left at too low levels for too long could ignite inflation concerns among investors, which in turn could push up long-term rates, a senior Bank of Japan official told lawmakers Wednesday 11 April.
Brazilian cb monetary policy head resigns
Brazilian central bank director Rodrigo Azevedo resigned as chief of monetary policy, citing an interest to work outside of government, Bloomberg reported Wednesday 11 April, citing a statement.
Contagion risk in the international banking system
In the IMF Working Paper "Contagion risk in the international banking system and implications for London as a global financial center" the authors use the extreme value theory (EVT) framework to analyze contagion risk across the international banking…
Nielsen on financial stability, Danish perspective
In the speech 'Financial stability, the Danish perspective' given on 23 March of the Danmarks Nationalbank said the IMF recommends that we establish a buffer pool to ensure the settlement of securities transactions and retail payments even if the largest…
Fed's Mishkin on monetary policy and dual mandate
In the speech 'Monetary policy and the dual mandate' given on 10 April Frederic Mishkin of the Federal Reserve said the aim of the Federal Reserve is to promote both stable prices and maximum employment, which can occasionally lead to competing interests…
New Cyprus cb governor may be named soon
The new Cyprus central bank governor will probably be named in the next 10 days, finance minister Michalis Sarris said on Thursday 5 April on the sidelines of a press conference on euro awareness.
RBI's Reddy on the role of monetary policy
In the speech 'Role of monetary policy in attaining growth with stability: The Indian experience' given on 2 April Y.V. Reddy of the Reserve Bank of India said India has a good story to tell the world on its performance relating to the role of monetary…
Japan appoints new board members to BOJ
The Japanese government on Friday 5 April appointed a former top manager at Japan's largest trading company and a former shipping company executive to the Bank of Japan's monetary policy board.
RBA announces senior staff movements
The Reserve Bank of Australia announced Friday 5 April that Keith Hall, currently Head of Financial Stability Department, will take up the position of Head of International Department, which became vacant on the appointment of Guy Debelle as Assistant…
Audit committees in central banks
This IMF Working Paper reviews the tasks and design of audit committees, increasingly recommended as a way to strengthen financial accountability and good central bank governance.
Italy's Draghi: Governor Baffi's financial policy
In the speech 'Reflections on monetary and financial policy - Governor Baffi's monetary policy' given on 15 March Mario Draghi of the Bank of Italy said Paolo Baffi was governor of the Bank of Italy during five of the most difficult years Italy has known.
NBP to publish minutes of meetings
Poland's central bank said Tuesday 3 April it will start to publish minutes from policy meetings of its interest rate-setting panel on 24 May, in a move analysts hope will offer more clarity on future monetary policy.
Garganas says ECB must be ready to act decisively
Favorable inflation trends appear to be waning in the euro one economy which is enjoying another year of strong growth, and the European Central Bank must act decisively if price risks threaten, Governing Council member Nicholas Garganas said in an…
The secret language of central bankers
According to this article by J. Bradford DeLong, published Tuesday 3 April by the Taipei Times, there seems to be general agreement today that the argument for talking in "Greenspanese" is essential for enabling central banks to ensure price stability no…
Central Bank of Sri Lanka redesigns website
The Central Bank of Sri Lanka announced Friday 30 March the launch of its redesigned website. The primary objective of re-designing the website was to present comprehensive information relating to all key functions of the CBSL, with the re-designed site…
RBI prefers indirect policy instruments
The Reserve Bank of India's governor, Yaga Venugopal Reddy, said on Monday 2 April in a speech that the RBI has a policy preference for indirect instruments to give effect to its monetary policy.
Asean looking at ways to use growing FX reserves
South-East Asian nations plan to jointly set up a fund to finance infrastructure by exploiting heavy capital inflows, a senior Thai finance ministry official told reporters Monday 2 April.