Central Banks
Olson on Federal Reserve in an electronic world
In the speech 'The Federal Reserve in an electronic world' given on 19 May, Mark Olson of the Federal Reserve said the role of the private sector is growing in all segments of the payments system, from providing payments services, to setting industry…
Atlanta's Guynn on growth and low inflation
In a e speech on 'Continuing the pattern of growth and low inflation' given on 25 May, Jack Guynn of the Federal Reserve Bank of Atlanta said the Federal Reserve is not yet done raising interest rates, but the central bank will watch economic data…
BoE's Lambert on monetary policy-making
In a speech on 'Monetary policy-making: Fact and fiction' given on 24 May, Richard Lambert of the Bank of England reflects on his two years on the MPC and on the uncertainty inherent in setting monetary policy.
Fed's Gramlich on politics of inflation targeting
In the speech 'The politics of inflation targeting' given on 26 May Edward Gramlich of the Federal Reserve said there was little political support in the United States for adopting a formal inflation target and such a step would yield only modest…
BoJ's Nakahara cautions on lowering target
A Bank of Japan Policy Board member warned on Thursday 26 May against lowering the target for the balance of current accounts at the central bank due only to a fall in commercial banks' demand for funds.
Bernanke says China ready for yuan move
China can and should move toward a more flexible currency quickly to help rebalance world trade, Federal Reserve Governor and White House nominee Ben Bernanke said on Wednesday 25 May.
Fed governor says measured rises could continue
Federal Reserve Governor Edward Gramlich said on Thursday 26 May it was a possibility that the Federal Reserve could continue to raise US interest rates at a measured pace.
East Asia's cb heads meet Friday 27 May
The heads of the central banks of South Korea, China and Japan will meet in Seoul on Friday 27 May to discuss various topics, including foreign exchange markets.
IMF says debt relief plan may be flawed
A top International Monetary Fund official said on Wednesday 25 May that the focus by the world's richest nations on debt relief is misplaced.
Philadelphia Fed's Santomero on regional equity
In the speech 'Advancing regional equity: The Second National Summit on Equitable Development, Social Justice, and Smart Growth' given on 23 May Anthony Santomero of the Federal Reserve Bank of Philadelphia said rising real estate prices have helped…
IMF Paper: Inflation targeting and output growth
This IMF Working Paper evaluates the performance of two alternative policy rules, a forward-looking rule and a spontaneous adjustment rule, under alternative inflation targets, in terms of output losses in a macroeconomic model, using European Union data.
Norway's Gjedrem on the conduct of monetary policy
In the speech 'The conduct of monetary policy' given on 23 May Svein Gjedrem of Norges Bank said two and a half years after we started to lower interest rates it would appear that inflation is moving up, albeit slowly.
BoE's Lambert says markets suggest steady rates
Bank of England Monetary Policy Committee member Richard Lambert said in a newspaper interview published on Wednesday 25 May that market interest rates seem to suggest that interest rates will remain broadly steady.
ECB won't cut rates according to Liikanen
The European Central Bank remains focused on reviving the euro zone economy by continuing to push though growth-focused structural reforms rather than cutting interest rates, Erkki Liikanen, a member of the ECB's governing council said in an interview.
ECB's Padoa-Schioppa says next move up for rates
Although the OECD called for a reduction in euro zone interest rates Tuesday, the ECB sees the next natural step in interest rates to be a hike, ECB board member Tommaso Padoa-Schioppa told the Frankfurter Allgemeine Zeitung in an interview.
PBOC's Zhou says yuan reform 'a slow business'
Exchange rate reform will be a "slow business" according to People's Bank of China governor Zhou Xiaochuan, who was speaking in Beijing Tuesday 24 May.
Malaysia rules out ringgit free-float
Malaysia's central bank ruled out any moves to free-float the ringgit on Wednesday 25 May, warning it could lead to volatility but said it was open to opportunities for a better exchange mechanism.
Bank of Canada keeps interest rates unchanged
The Bank of Canada announced Wednesday 25 May that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent.
FOMC Minutes, 3 May
Minutes from the Federal Reserve's 3 May meeting published on Tuesday 24 May showed members saw rising inflation as a bigger threat to the economy than a series of weak economic reports and decided to raise interest rates.
ECB's Gonzalez-Paramo on inflation differentials
In the speech 'Inflation differentials in the euro area' given on 23 May Jose Manuel Gonzalez-Paramo of the ECB said lasting inflation differentials that are the product of misaligned national policies or structural inefficiencies may be damaging for the…
Bank of Japan Monthly Report, May 2005
The Bank of Japan published the English version of its May 2005 monthly report on 24 May. In the report the BOJ repeated that the domestic economy remains on a recovery track despite continuing weakness in the information technology sector.
Fed's Bies on benefits & implementation of Basel 2
In the speech 'Financial stability benefits and implementation challenges of Basel II' given on 17 May Susan Bies of the Federal Reserve said in preparing for Basel II, supervisors realize that they must address their own capital needs--that is, human…
ECB paper on central bank communication
The ECB Working Paper "Communication and decision-making by central bank committees: different strategies, same effectiveness?" published 23 May assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central…
Philadelphia Fed Business Outlook Survey, May 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, May 2005, activity in the region's manufacturing sector continues to expand; however, indicators are down from last month's numbers.