Central Banks
Costa Rica selects OpenLink's Findur
OpenLink, a leading provider of financial and commodity trading, risk management, and operations processing software solutions, announced Monday 5 June that Costa Rica's central bank, Banco Central de Costa Rica (BCCR), has licensed Findur, the company's…
IMF approves Lipsky as first deputy MD
The International Monetary Fund's board on Thursday 1 June approved John Lipsky as IMF first deputy managing director, the second-highest position at the Fund.
NY Fed's Geithner on uncertainty and transparency
In the speech 'Uncertainty and transparency in the conduct of monetary policy' given on 31 May Timothy Geithner of the Federal Reserve Bank of New York said the neutral range of U.S. interest rates is almost impossible to capture, making the near-term…
Sweden's berg on the economy and monetary policy
In a speech given on Tuesday 30 May, Sveriges Riksbank deputy governor Svante berg said in his experiences of forecasting work there is considerable uncertainty linked to longer-term forecasts.
Buba's Weber on European financial integration
In the speech 'European financial integration and (its implications for) monetary policy' given on 23 May Axel Weber of the Deutsche Bundesbank said financial integration is a mostly beneficial process which is driven by market forces as well as…
Getting to the bottom of foreign currency reserves
According to this recent article from The Japan Times, the news about sharp increases in foreign reserves held by emerging economies has been big news in Japanese papers.
ECB reshuffle aims for collegiate mood
According to the article "ECB reshuffle aims for collegiate mood and focus on policy" published by the FT on Friday 2 June, the European Central Bank has divided the role of its chief economist in a move that will allow an evolution in ECB thinking and…
Interview with Otmar Issing
In an interview published Thursday 1 June, outgoing ECB chief economist Otmar Issing said his parting message to his ECB colleagues was to get to grips with inflation.
Danmarks Nationalbank, Financial Stability 2006
Denmark's central bank published its Financial Stability report for 2006 on Friday 2 June. According to the report, Denmark is currently enjoying favourable economic conditions.
Burhan Goklemez named dep gov in Turkey
Turkey named central bank insider Burhan Goklemez as a deputy governor of the bank on Wednesday 31 May.
Kohn Senate hearing set for 8 June
The Senate Banking Committee said on Thursday 1 June that it will hold a hearing on the nomination of Federal Reserve governor Donald Kohn to be vice chairman at the Fed next Thursday.
Sveriges Riksbank, Financial Stability Report 1:06
Sweden's central bank, the Sveriges Riksbank, published its first Financial Stability Report for 2006 on 31 May. The prospects of the financial system managing potential shocks are good, according to the report.
Monetary policy conduct of the Swiss National Bank
The Bank of Japan Working Paper "Monetary policy conduct of the Swiss National Bank: the experience from 2001 to 2004" published May 2006 investigates the monetary policy conduct of the SNB during the period 2001 to 2004 and the accompanying financial…
Fed minutes show uncertainty on future hikes
Federal Reserve policymakers at their May meeting considered raising a key interest rate by half a percentage point before deciding on a quarter-point increase, minutes published Wednesday 31 May showed.
BoJ's Fukui on quantitative easing
In a speech given on 1 June Toshihiko Fukui of the Bank of Japan said the central bank's quantitative easing policy, which lasted for nearly five years till March 2006, helped in bringing recovery back to the deflation-hit Japanese economy.
ECB's Financial Stability Review, June 2006
The European Central Bank published its June 2006 Financial Stability Review on 1 June. In the report the ECB said an abrupt unwinding of the US current account deficit could put sharp downward pressure on the dollar and lead to a rise in US long-term…
ECB announces distribution of responsibilities
Within the framework of its collective responsibility for the overall functioning of the business areas of the European Central Bank, the Executive Board of the ECB agreed Thursday 1 June on a distribution of responsibilities among its members, with…
BoJ's Haru urges caution on rate moves
Bank of Japan board member Hidehiko Haru said on Thursday 1 June that the central bank need not end its zero interest policy too fast, and must avoid surprising markets.
BOJ's Fukui sees slow rate rises
Bank of Japan governor Toshihiko Fukui said the central bank would raise interest rates slowly and would proceed without focusing on one particular economic indicator, Bloomberg News reported on Thursday 1 June.
Russian reserves hit all time high
Russia's gold and foreign exchange reserves, boosted by record world oil prices, have touched an all-time high of $243.3 billion, the central bank said on Thursday 1 June.
Adviser says China should buy gold with reserves
China should use its foreign-currency reserves to buy gold and oil as a hedge to guard against the risk of a sudden drop in the U.S. dollar, according to a member of the central bank's advisory board.
Comment: Fed ponders communication strategy
The minutes of the US Fed's last monetary policy meeting, released this week, have enhanced the perception of an uncertain FOMC, and strengthened the view that further rate increases will be required. A close look at recent events show that the issue of…
Which news moves the euro area bond market?
This ECB Working Paper explores a long dataset (1999-2005) of intraday prices on German long-term bond futures and examines market responses to major macroeconomic announcements and ECB monetary policy releases.
Yellen on monetary policy in a global environment
In the speech 'Monetary policy in a global environment' given on 27 May Janet Yellen of the Federal Reserve Bank of San Francisco said a depreciation in the U.S. dollar could increase the need for tighter Federal Reserve monetary policy.