Central Banks
BOI tops public servant 'fat cat' list
This article from The Jerusalem Post, published Tuesday 13 June, quotes a report from the Wage Supervisor's Office 2004 annual report as saying that senior Bank of Israel staff accounted for the top 14 most highly paid public servants.
Ingves on regional financial sector assessments
In the speech 'Can regional financial sector assessments provide additional values to the EU countries?' given on 13 June Stefan Ingves of the Sveriges Riksbank said the whole FSAP process was created to meet a specific purpose: to reduce the incidence…
New global note arrangement for debt securities
The ECB confirmed Monday 12 June that the so-called New Global Note (NGN) arrangement for international debt securities is in compliance with the Eurosystem's Standards for the use of EU securities settlement systems in ESCB credit operations.
Mersch says ECB ready to raise rates again
With inflationary pressures evident in the eurozone, the European Central Bank stands ready to raise interest rates again whenever necessary, Governing Council member Yves Mersch said at the presentation of the Luxembourg central bank's annual report.
Senate backs Kohn's Fed nomination
The Senate Banking Committee on Wednesday 14 June approved the nomination of U.S. Federal Reserve governor Donald Kohn to be vice chairman at the central bank, sending it to the full Senate for a final vote.
China appoints new central bank vice-governor
China's state council has named Liu Shiyu, the former assistant to the governor of the People's Bank of China, as the new central bank vice-governor.
BoE's King on monetary policy
In a speech given on 12 June Mervyn King of the Bank of England said global interest rates may have been too low and "too accommodative" for too long, fanning inflation which is now feeding into the U.K. economy.
Nyberg on the Riksbank's monetary policy strategy
In the speech 'The Riksbank's monetary policy strategy' given on 19 May Lars Nyberg of the Sveriges Riksbank said the decision to hold the repo rate unchanged at the most recent monetary policy meeting was not a self-evident decision.
Trichet is right to be nervous about inflation
According to this article by the Financial Times, published Monday 12 June, Jean-Claude Trichet and his ECB colleagues are nervous about inflation and rightly so.
Clearly, Greenspanese isn't his language
According to this article by The New York Times, published Sunday 11 June, Federal Reserve chairman Ben Bernanke has shown in recent comments that he knows how to send a message.
Comment: Hawkish Fed
After a string of speeches by its senior staff this week, the Fed appears to be in an increasingly hawkish mood. The growing perception that that US interest rates will have to rise further could be bolstered by today's release of consumer price data for…
IMF admits double counting on gold
The IMF has released a paper that discusses the practice of double counting of gold reserves by central banks.
ECB's Tumpel-Gugerell on payment systems
In the speech 'Drivers for change in payment and securities settlement systems' given on 9 June Gertrude Tumpel-Gugerell of the ECB said exploiting technological innovation can be an important means of saving costs, which is a pressing need in the…
RBI's Reddy says monetary policy 'in sync'
Reserve Bank of India governor Y. V. Reddy said on Saturday 10 June that the recent increase in overnight interest rates was necessary so that India was not "out of sync" with the monetary developments in the world.
Pianalto on economic conditions & monetary policy
In the speech 'Economic conditions and monetary policy' given on 12 June Sandra Pianalto of the Federal Reserve Bank of Cleveland said recent news on US inflation has been troubling, but if the economy moderates as forecast, an interest rate at 5% is…
Comment: The housing bubble debate
In a recent working paper for the Czech National Bank Stephen Cecchetti, an economist at Brandeis University concludes that "monetary policymakers have no choice but to face the risks posed by asset price bubbles head on".
BOZ appoints new spokesperson
The Bank of Zambia announced Monday 12 June that it has appointed Penlope Mapoma as it's Head of Public Relations.
Trichet on activism & alertness in monetary policy
In the speech 'Activism and alertness in monetary policy' given on 8 June Jean-Claude Trichet of the ECB said we are not in a position that we would judge "abnormal", in the sense that we would have to increase as rapidly as possible our interest rates…
Weber: Rate moves not subject to FX considerations
Bundesbank president and European Central Bank council member Axel Weber said Friday 9 June that the ECB cannot make interest rate decisions with reference to the level of the euro.
Fed, under pressure, may go ahead with increase
According to this article by John Berry of Bloomberg, published Friday 9 June, Federal Reserve officials now seem likely to raise US interest rates later this month.
ECB publishes SIPS report
On 31 May 2006, the Governing Council of the European Central Bank (ECB) approved the "Business continuity oversight expectations for systemically important payment systems (SIPS)" report (published Friday 9 June).
Russia cuts US dollar holdings
Russia's central bank said on Thursday 8 June that it would cut its dollar reserves, while increasing its holdings of euros.
What did Bernanke say?
According to this editorial published Wednesday 7 June, Federal Reserve chairman Ben Bernanke is probably obsessed with central bank transparency.