Central Banks
Interview with Richmond Fed's Lacker
In an interview published this week, Federal Reserve Bank of Richmond President Jeffrey Lacker said that as far as he is concerned it is clear "we're not done removing accommodation," suggesting US interest rates have further to rise.
Interview with ECB's Trichet
In an interview published on Thursday 24 November, European Central Bank President Jean-Claude Trichet said he doesn't foresee "repeated" rises in eurozone interest rates.
Plenderleith to retire from SARB
South African Reserve Bank deputy governor Ian Plenderleith will retire at the end of his three-year contract on 31 December 2005, an SARB spokesperson was quoted as saying this week.
President 'Arrovo' blunder prompts banknote recall
The Philippines central bank suffered embarrassment this week when it was noticed that 100 peso (US$1.80) bank notes had been issued with the surname of President Gloria Macapagal Arroyo spelled "Arrovo," with a "v."
ECB's Issing on mortgage markets & monetary policy
In the speech 'Mortgage markets and monetary policy: a central banker's view' given on 23 November Otmar Issing of the ECB said the ECB will be able to avoid sharp rises in interest rates if markets have faith in its ability to keep inflation under…
Norway's Bergo on monetary policy
In the speech 'Monetary policy and the cyclical situation' given on 23 November Jarle Bergo of Norges Bank said developments ahead are uncertain and the Norwegian economy may be exposed to shocks.
Sveriges Riksbank, Financial Stability Report 2:05
Sweden's central bank, the Sveriges Riksbank, has published its second Financial Stability Report for 2005. Currently, there is nothing to indicate that the Swedish banks will have any serious problems with loan losses or profitability in the coming two…
ECB's Trichet on Eurasia: Bull meets tiger
In the speech 'Eurasia: Bull meets tiger - Panel III - Financial markets: Shared responsibility' given on 18 November Jean-Claude Trichet of the ECB said the experiences of Europe and the Asia-Pacific region with regard to regional surveillance present…
Russia's central bank should boost gold - Putin
Russian President Vladimir Putin has said that Russia's central bank should pay more attention to gold in its international reserves.
Comment: Russia's reserve management
At a time when Russia's official foreign reserves have risen sharply due largely to increased revenues from oil exports, the Central Bank of Russia (CBR) has been remarkably transparent how it manages these reserves.
BIS's Icard on risk measurement and systemic risk
In the speech 'Risk measurement and systemic risk' given on 8 November Andre Icard of the BIS said structural change, though a good thing in general, also means uncertainty.
RBNZ Financial Stability Report, November 2005
The Reserve Bank of New Zealand published its November 2005 Financial Stability Report on 18 November. Reserve Bank governor Alan Bollard commented: "The New Zealand financial system, overall, is well placed to weather a possible slowdown in the economy."
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".