Central Banks
Comment: More pounds in their pockets
According to the most recent IMF data on reserve holdings, the pound sterling has surpassed the yen as the third most popular reserve currency. A number of factors could see the pound's popularity increase further.
IMF paper on international policy coordination
The IMF Working Paper "International policy coordination and simple monetary policy rules" studies the optimal design of monetary policy in an optimizing two-country sticky price model.
UAE says reserves shift not political
In an interview with the Financial Times, the United Arab Emirates' central bank governor confirmed a strategic decision had been taken to move 10 per cent of its $29bn foreign exchange reserves into euros.
BOJ raises rates, Fukui staying put
The Bank of Japan on Friday 14 July ended its five-year-old policy of keeping interest rates near zero, saying that the nation has emerged from deflation and overcome the long economic slump.
Barbados' Williams says hands off her staff
According to the Barbados Nation, the governor of the central bank of Barbados, Dr Marion Williams, has asked commercial banks to stop poaching her staff.
Comment: A new era for the BoJ
As expected the Bank of Japan raised interest rates for the first time since March 2001 at its monetary policy meeting on 14 July. The decision to end the zero interest rate policy (ZIRP) with a 25 basis point hike in the overnight rate was unanimous one.
IMF says BOJ hike welcome news
A senior IMF official on Friday 14 July welcomed the decision by the Bank of Japan to end the era of zero interest rates.
Dominican central bank adds UK£ to reserves
Dominican Republic is adding British pounds to its foreign monetary reserves because the United Kingdom's assets offer attractive return margins, central bank governor Hector Valdez Albizu said in an interview.
RBA's Stevens on the conduct of monetary policy
In the speech 'The conduct of monetary policy' given on 13 July Glenn Stevens of the RBA said Australia's adoption of a medium term inflation target has served the country well in its conduct of monetary policy.
How do central banks write on financial stability?
This IMF Working Paper, published July 2006, surveys central bank financial stability reports, and proposes a framework for assessing them.
RBNZ's Bollard on an independent monetary policy
In the speech 'Can NZ expect to carry out independent monetary policy?' given on 13 July Alan Bollard of the RBNZ said New Zealand can still carry out its own independent monetary policy effectively, even though it has had to work against strong global…
Bank of Canada Monetary Policy Report Update
The Bank of Canada released its July 2006 Monetary Policy Report Update on Thursday 13 July. Growth in the first half of 2006 appears to have been a little stronger than projected, according to the report.
Two appointed to Bank of England's MPC
The Bank of England's Monetary Policy Committee was back to full strength on Thursday 13 July with the appointed of two new members to fill the vacant places.
More Greenspan, less Volcker, needed in Japan
This article published Wednesday 12 July by Bloomberg says that the Bank of Japan may engineer its first interest rate increase since August 2000 on Friday.
Comment: Will McCreevy's approach work?
The European commissioner for internal market and services, Charlie McCreevy, has called for an industry-driven "code of conduct" to reduce the costs of European cross-border settlement and clearing, rather than propose a directive. Will his famous light…
Bank of England Financial Stability Report, Jul 06
The Bank of England published its latest Financial Stability Report for July 2006 on Wednesday 12 July. It was published in a new-style, providing an assessment of prospects for the UK financial system.
Mexico's foreign reserves at record level
Mexico's foreign reserves climbed US$358 million (euro281 million) last week to a record US$79.10 billion (euro62 billion), the Bank of Mexico reported Tuesday 11 July.
Mishkin says he will stick to Fed's goals
Federal Reserve nominee Frederic Mishkin told a hearing on Wednesday 12 July that he would keep faith with the Fed's responsibilities for ensuring price stability, full employment and a stable financial system.
A bond that insures against instability
According to this article published by the Financial Times on Monday 10 July, there has been increasing interest in creating bonds linked to the growth of a countrys' GDP.
RBNZ countdown to smaller lighter coins
On 31 July the current 50, 20, and 10 cent coins will be replaced with smaller and lighter coins, and the 5 cent coin will begin to be phased out, the Reserve Bank of New Zealand said on Monday 10 July.
Bank of Canada keeps rates unchanged
The Bank of Canada left interest rates unchanged at 4.25% on Tuesday 11 July and repeated a May statement that the seven prior increases are enough to return inflation to its 2 percent goal.
BOK maintains hawkish stance
Bank of Korea governor Lee Seong-tae said on Monday 10 July that the central bank will take preemptive action to curb increased pressure on inflation.
Paulson sworn in as US Treasury Secretary
Henry Paulson was sworn in as the 74th U.S. Treasury Secretary on Monday 10 July, saying he would build on the achievements of his predecessor, John Snow.