Central Banks
Bank of Jamaica to stick with US dollar reserves
The governor of the Bank of Jamaica, Derick Latibeaudiere, has said that the central bank will continue to maintain Jamaica's net international reserves (NIR) in U.S. dollars.
Former Fed chair Volcker faults US policy
Former chairman of the Federal Reserve Paul Volcker has said US policy abroad is too abrasive.
PBOC to increase yuan flexibility
The People's Bank of China said in its first quarter monetary report that it will increase the flexibility of the yuan's exchange rate mechanism and intervene less in determining the currency's value.
ECB's Wellink says ECB should raise rates
European Central Bank council member Nout Wellink said in an interview that interest rates need to be increased because of rising inflation expectations.
Rybinski on inflation targeting, challenges ahead
In the speech 'Inflation targeting and the challenges ahead' given on 18 May Krzysztof Rybinski of the National Bank of Poland said that since 1990, when the pioneering Reserve Bank of New Zealand first introduced inflation targeting, over twenty…
IMF names Liam P. Ebrill as HR director
Rodrigo de Rato, Managing Director of the IMF, on Friday 26 May named Liam P. Ebrill to the position of Director of the Human Resources Department to succeed Jorge Marquez-Ruarte.
IMF's Rato offers condolences after earthquake
Rodrigo de Rato, Managing Director of the International Monetary Fund, made a statement offering his deepest condolences on Sunday 28 May regarding the earthquake affecting Indonesia.
BoE's Blanchflower approved by committee
The parliamentary Treasury Select Committee endorsed on Tuesday 30 May David Blanchflower's appointment to the Bank of England's Monetary Policy Committee.
Bush nominates Henry Paulson as Treasury Secretary
US President George W. Bush on Tuesday 30 May said he would appoint Hank Paulson, chief executive of Goldman Sachs, to take over from John Snow as treasury secretary.
ECB's Papademos on globalisation, inflation
In the speech 'Globalisation, inflation, imbalances and monetary policy' given on 25 May Lucas Papademos of the ECB said that globalisation had helped contain prices in the past, but the risks to inflation were now rising due to buoyant world growth.
Central Bank of Sri Lanka - Monetary Policy Review
According to the Central Bank of Sri Lanka's Monetary Policy Review for May 2006, both exports and imports expanded further in March 2006 with imports growing at a faster rate mainly due to the increase in the petroleum imports.
ECB paper on foreign reserves management
The ECB Working Paper "Foreign reserves management subject to a policy objective," published May 2006, studies the implications of introducing an explicit policy objective to the management of foreign reserves at a central bank.
Central bankers eye Norway's clarity on rates
According to this article published by the Financial Times on Friday 26 May, Norges Bank's "subversive" transparency is attracting a great deal of attention in central banking circles.
Fed can't ignore stock, home prices says Bernanke
Fed chairman Ben Bernanke said in a written response to a senator that the US central bank cannot turn a blind eye to price changes for stocks and homes when deciding on interest rates, but should take action only when they threaten the overall economy.
Bernanke to deliver MIT's commencement address
Federal Reserve chairman Ben Bernanke will deliver the main commencement address at the Massachusetts Institute of Technology on 9 June.
Comment: Reserves management update
How much has changed in the last year in the world of official reserves management? The same issues - the threat of a weakening dollar, central banks' role in bring this about and their response to it, a continuation of the unprecedented accumulation of…
China's reserve center to open in July
The China International Reserve Center will open in Shanghai this July, according to the China Knowledge website.
Ingves on the Riksbank and monetary policy
In the speech 'The Riksbank and monetary policy' given on 23 May Stefan Ingves of the Sveriges Riksbank reiterated that monetary policy will need to be less expansionary in future so that inflation does not exceed the 2% target.
Blanchflower is 'no shrinking violet'
The Bank of England Monetary Policy Committee's latest member, David Blanchflower, told the Treasury Select Committee on Wednesday 24 May that his commitment to the rate setting MPC will form his "primary responsibility."
Stark appointed to ECB, Zeitler joins Buba
Jurgen Stark, vice-president of the Bundesbank, has been formally appointed to the European Central Bank's executive board, European Union officials announced Tuesday 23 May, according to the FT.
Bank of Canada raises rates
The Bank of Canada announced Wednesday 24 May that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/4 per cent. The move had been widely expected.
BOJ member sees reserve cut problem
According to minutes of the Bank of Japan's April 10-11 board meeting, published Wednesday 24 May, a policy maker said a rapid reduction in reserves by the central bank may spur speculation of an interest-rate increase from near zero.
African central bank sells gold
A private Saudi jeweller has bought 36 tonnes of raw gold from an African central bank for 1.8 billion riyals, a company spokesman was quoted by Reuters as saying on Monday 22 May, confirming a newspaper report.