Central Banks
Rosenberg on the Riksbank's forecasts & mon policy
In the speech 'The Riksbank's forecasts and current monetary policy' given on 8 June Irma Rosenberg of the Sveriges Riksbank said she believes it is time for less expansionary monetary policy.
Comment: Rates on the up
Monetary policymakers from Mumbia to Madrid to Pretoria stepped firmly on the monetary brakes yesterday, with no less than six central banks hiking rates.
ECB raises rates, sees further hikes ahead
European Central Bank president Jean-Claude Trichet said Thursday 8 June that the ECB is likely to raise interest rates again in future if the euro zone economy continues to recover.
Macklem on floating dollar, anchored inflation
In the speech 'Floating Dollar, Anchored Inflation: The Role of the Exchange Rate in Canada's Monetary Policy Framework' given on 8 June Tiff Macklem of the Bank of Canada said the Canadian dollar's rapid recent appreciation reflects strong demand for…
Bank of Spain governor appointed to IMF post
The IMF said Wednesday 7 June it has appointed Bank of Spain governor Jaime Caruana as head of a new IMF department that will be responsible for all aspects of the Fund's financial, capital market and monetary work.
Caruana at the ECB's Governing Council Dinner
In a speech given on 7 June Jaime Caruana of the Bank of Spain said the ECB's monetary policy has been positive for the euro zone economy, but it needs to be supported by economic reforms by euro zone governments.
BOJ urged to maintain zero rate policy
Japan's government has urged the central bank to maintain its zero interest rates policy in order not to choke off the country's economic recovery.
RBNZ Monetary Policy Statement, June 2006
The Reserve Bank of New Zealand published its June 2006 Monetary Policy Statement on 8 June. The report said that recent economic activity has been weaker than projected in the March Monetary Policy Statement. However, the short-term inflation outlook…
ECB's Tumpel-Gugerell on SEPA
In the speech 'What is the outlook for the Single European Payments Area (SEPA)?' given on 7 June Gertrude Tumpel-Gugerell of the ECB said the project is on track and many hands are needed for making the SEPA vision reality.
Mohan on financial sector reforms, monetary policy
In the speech 'Financial sector reforms and monetary policy: The Indian experience' given on 2 June Rakesh Mohan of the Reserve Bank of India said the RBI will maintain vigil over asset price rises, especially in housing and real estate that are emerging…
Launching of Bloomberg e-bond trading system
With the support of the Central Bank of Sri Lanka and the Primary Dealer community, Wednesday 7 June, Bloomberg officially launched its e-bond trading system in Sri Lanka.
Greenspan picks writer to help with memoirs
Alan Greenspan has selected a Fortune Magazine veteran, Peter Petre, to assist him on his memoirs, The New York Times reported.
Comment: BCCI 'farce' all over
A final line was drawn yesterday under the "farcical" BCCI. The book is closed on the matter with the Bank of England's financial compensation falling short of the amount it said it would push for when BCCI liquidators, Deloitte, dropped its £1 billion…
Final curtain for long running BCCI 'farce'
A full and final settlement was agreed on Wednesday 7 June on costs in the proceedings brought by the Liquidators of BCCI against the Bank of England.
Norges Bank Financial Stability Report No.1, 2006
The central bank of Norway, Norges Bank, published its twice yearly Financial Stability Report 1/2006 on 6 June. The overall outlook for financial stability is considered to be satisfactory, said deputy governor of Norges Bank Jarle Bergo.
Paper on monetary policy and asset prices
The University of Warwick Research Paper "Monetary policy and asset prices : What role for central banks in new EU member states?" deals with the relationship between monetary policy and asset prices.
Fed's Bernanke on the outlook for the U.S. economy
In the speech 'Panel discussion: Comments on the outlook for the U.S. economy and monetary policy' given on 5 June Ben Bernanke of the Federal Reserve said recent increases in measures of inflation ``are unwelcome'' and he will ensure the trend isn't…
Legal foundations of int'l monetary stability
A new book by Rosa Maria Lastra, a senior lecturer in International Financial and Monetary Law, describes the legal framework promoting, and policy implications of, monetary and financial stability.
The beginning of the end for inflation targeting
This article by Wolfgang Munchau published Monday 5 June in the Financial Times says that while an inflation targeting strategy has worked well for some central banks - notably the Bank of England - it did not work out as well for others.
Interview with BOJ's financial markets head
In an interview with Reuters published on Monday 5 June, Hiroshi Nakaso, director-general of the Bank of Japan's financial markets department said the BOJ is not targeting a particular level of reserves as it draws down excess liquidity from the banking…
Philadelphia Fed names new president
The Federal Reserve Bank of Philadelphia announced Tuesday 6 June that Charles I. Plosser, a professor of economics, has been named president of the Philadelphia Fed.
PBOC's Zhou says no monetary tightening plan now
People's Bank of China governor Zhou Xiaochuan has said the PBOC does not plan to start further monetary tightening measures and will instead wait to assess the impact of its previous policy action.
Comment: Sharing the cost of banking crises
The need for an ex-ante commitment to sharing the cost of cross-border banking crises in Europe is suggested in a speech by Eva Srejber and a paper by Charles Goodhart and Dirk Schoenmaker. But is it feasible?
Norges Bank's Annual Report on payment systems 05
Changes in the use of different payment instruments have resulted in a further increase in the efficiency of the Norwegian payment system, said Deputy Governor Jarle Bergo when he presented the Annual Report on Payment Systems at a press conference on 31…