Central Banks
Russian central bank plans large job cuts
The Bank of Russia, the biggest employer among the world's central banks, will cut thousands of jobs in the coming year, a deputy chairman said on Friday 18 November.
Bernanke gives Fed an explicit inflation target
According to this article published Thursday 17 November, the Federal Reserve now has an explicit inflation target because incoming chairman Ben Bernanke has suggested a preference for a 1 to 2 percent rate.
Herve Hannoun appointed BIS Deputy General Manager
The Board of Directors of the Bank for International Settlements (BIS) have announced the appointment of Herve Hannoun as Deputy General Manager for a five-year term.
Zimbabwe's Gono probed over forex scam
Reserve Bank of Zimbabwe chief Gideon Gono has been pulled into a scandal in which Finance Minister Herbert Murerwa and chief government revenue collector, Gershem Pasi, are alleged to have swindled the state of millions of dollars in foreign currency.
Putin nominates Russia's Ignatyev for new term
Russian President Vladimir Putin has nominated Sergei Ignatyev for a second four-year term as Central Bank chairman, the presidential press service has said.
Record central bank gold sales forecast
London-based GFMS is forecasting record net gold sales by central banks in 2005 of about 700 tons, up from over 500 tons in 2004, GFMS Executive Chairperson Philip Klapwijk said on Tuesday 15 November.
Norway's Gjedrem on petroleum wealth
In the speech 'The management of petroleum wealth' given on 8 November Svein Gjedrem of Norges Bank said the Petroleum Fund is a very long-term savings plan.
Bernanke urges action on China currency
Federal Reserve chairman-designate Ben Bernanke has called on China to reform its currency regime in the interests of its own economy.
SARB may increase gold reserves
The South African Reserve Bank might increase its gold reserves, its head said Tuesday, but gave few details.
Comment: Bold plan for FX reserves
Sometimes unique policy dilemmas require unorthodox policy responses. A recent IMF discussion paper offers a bold suggestion for central banks facing increasingly sharp trade-offs related to the management of their foreign exchange reserves.
'Keep it simple' says Hong Kong's Yam
In a speech at the Global Bond Summit in Hong Kong this week, Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, identified "possible directions to be explored" by the Asian Bond Fund.
IMF central bank governance survey
An IMF survey of governance boards and management structures at central banks by JoAnne Morris and Tonny Lybek identifies "issues to consider when designing the structure, size, and composition of the governing boards and management of a central bank".
Fed's Olson on US payment systems
At a EU/U.S. Retail Banking Forum Conference in Brussels on November 15, US Federal Reserve governor, Mark W. Olson, offered some insights into the US payments system.
Duck-soo urges BoK caution
South Korea's finance minister, Han Duck-soo, said on Tuesday 15 November that the Bank of Korea should be "more cautious" in raising interest rates.
New currency for Zimbabwe
The Reserve Bank of Zimbabwe (RBZ) has announced that it will introduce a new currency next year. RBZ governor Gideon Gono said the new currency would be unveiled "at a date to be announced".
Bernanke hawkish on inflation
In his confirmation hearing before the US Sentate Banking Committee, Ben Bernanke expressed some concerns about the current inflation rate in the US.
Comment: Bernanke hits the ground running
While arguing that he will take his time in building the case for an inflation-targetting Fed, Ben Bernanke's remarks during his confirmation hearing yesterday before the US Senate Banking Committee made clear that he remains a proponent of the framework.
SARB's Mboweni on the rand
Governor Tito Mboweni yesterday said the South African Reserve Bank (SARB) favoured a "competitive" exchange rate. The country's mining and manufacturing sectors have struggled to adapt to an appreciating rand, since the currency rallied from historical…
Bernanke heads to Capitol Hill
Market participants will have all eyes on Ben Bernanke as he appears before a US Senate committee on Tuesday, 15 November. Bernanke is to appear before the Senate Banking Committee as part of the run-up to him taking over the reins from Alan Greenspan as…
BoE interest rate challenge gets under way
The sixth annual Bank of England (BoE)/Times Target Two Point Zero Interest Rate Challenge commences on 21 November. The competition asks nearly one thousand school and college students to decide what the UK's official interest rate should be to keep…
CLS data on FX transactions
The CLS (Continuous Linked Settlement) Group on Monday released new data showing that during October 2005, a daily average of 215,016 foreign exchange transactions was completed using their global settlement system.
Norway paper on Monetary policy and asset prices
A recent Bank of Norway working paper investigates whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy.
CBs to buy more gold - Rogoff
Kenneth Rogoff told delegates attending a precious metals conference in Johannesburg that he expects central bank gold sales to be reversed in time.
Bank of Canada enhances transparency
The Bank of Canada has implemented new measures to enhance the transparency and accountability of its operations.