Central Banks
Comment: Central bank governance
Seigniorage revenues have become more important to central banks as many of these institutions are feeling the squeeze financially. How these revenues are spent depend critically on sound governance structures and independence. These are the conclusions…
Changes to RBNZ's Bond Lending Facility
In consultation with the New Zealand Debt Management Office, The Reserve Bank of New Zealand announced Friday 21 July that, as from Monday, it will make the following changes to its Bond Lending Facility.
Lebanon's Salameh says currency 'stable'
Lebanon's currency is stable and its banks' reserves remain liquid despite the ongoing Israeli bombing campaign, the central bank governor said in an interview with Britain's Financial Times newspaper published Monday 24 July.
China may tighten policy more - report
China will tighten policy more aggressively if measures already taken fail to cool the red-hot economy, a central bank official said in remarks published on Monday 24 July.
ECB paper on the impact of policy decisions
The ECB Working Paper "The impact of ECB monetary policy decisions and communication on the yield curve" analyses high-frequency changes in the euro area money market yield curve on dates when the ECB regularly sets and communicates decisions on policy…
Monetary policy rules in the pre-EMU era
The ECB Working Paper "Monetary policy rules in the pre-EMU era: Is there a common rule?" analyses the period 1993 to 1998 saying there is no clear agreement regarding the monetary policy pursued in the member countries during the convergence process.
Roseman on coin and currency issues
In testimony 'Coin and currency issues' given on 19 July Louise Roseman of the Division of Reserve Bank Operations and Payment Systems said a law requiring the Treasury Department to issue new Presidential $1 coin designs every year may not foster…
ACU calls for new members
The Asian Clearing Union (ACU) concluded its two-day technical committee meeting Wednesday 19 July calling for the admission of countries beyond the ESCAP Asia/Pacific region.
ECB sets Nov 2007 date for TARGET2
The European Central Bank on Friday 21 July confirmed the starting date for its payment system TARGET2 as 19 Nov 2007.
Muto says BOJ will take its time with rate rises
Bank of Japan deputy governor Toshiro Muto said Friday 21 July the central bank will take its time with future interest rate increases, and the current accommodative conditions are likely to stay for now.
Minutes show Fed unsure on future rate path
Federal Reserve officials were uncertain about future interest rate steps at their last meeting, minutes released Thursday 20 July showed.
Some BOJ members wanted 0.5% hike - report says
Jiji Press reported on Friday 21 July that three Bank of Japan Policy Board members sought a steeper increase in the official discount rate at the central bank's meeting last week.
Minutes show BOJ waited to monitor markets
Minutes released on Thursday 20 July showed the Bank of Japan put off raising interest rates from zero at a board meeting in June because it wanted to monitor factors such as global markets and the U.S. economy.
Juncker says ECB not only one concerned on rates
The exchange rate policy is not the exclusive domain of the European Central Bank, the head of the Eurogroup Jean-Claude Juncker said in a newspaper interview published Thursday 20 July.
Mishkin approved by Senate Banking panel
The Senate Banking Committee on Wednesday 19 July approved the nomination of academic Frederic Mishkin to be a member of the Federal Reserve Board of governors.
Comment: Noyer takes Kroes to task
The Bank of France governor, Christian Noyer, said on 18 July that the European Commission is "playing a very dangerous game" in attempting to break open the European credit card market. How legitimate are his concerns?
Federal Reserve's Monetary Policy Report, Jul 2006
The Federal Reserve published its July 2006 Monetary Policy Report to the Congress on Wednesday 19 July. The U.S. economy continued to expand at a brisk rate, on balance, over the first half of 2006, the report said.
Bank of England voted 7-0 to hold rates
Minutes from the Bank of England's 5 and 6 July Monetary Policy Committee meeting, published Wednesday 19 July, showed policy makers voted unanimously to keep the benchmark interest rate at 4.5 percent this month.
Former RBA official supports Stevens
Former Reserve Bank of Australia board member Dick Warburton was quoted by the Sydney Morning Herald as saying that he has a lot of faith in the central bank's deputy governor Glenn Stevens.
ADB says China must tighten monetary policy
A senior Asian Development Bank official told Reuters in an interview on Tuesday 18 July that China needs to tighten its monetary policy to tackle an overheated economy and cut inefficient investment.
Comment: Bernanke focuses on risks
In his remarks following the delivery of the Fed's semi-annual monetary policy to Congress, Fed chairman, Ben Bernanke, adopted an approach very much in keeping with his predecessor, Alan Greenspan. What does this mean for the Fed's inflation targeting…
Bollard on agriculture, monetary policy, economy
In the speech 'Agriculture, monetary policy and the economy' given on 18 July Alan Bollard of the RBNZ said at the moment the New Zealand economy is moving into a rebalancing period.
Villasante steps down from Bank of Spain
Pedro Pablo Villasante, the director of supervision at the Bank of Spain, is to be nominated secretary-general of the Spanish banking association, the AEB, El Pais reported.