Central Banks
Fed's Gramlich on federal /state lending standards
Federal Reserve Governor Edward Gramlich said on Wednesday 27 April that creating federal standards to combat predatory lending will not necessarily lead to a safer system for consumers.
Calls for curb on Brazil's central bank autonomy
Severino Cavalcanti, the president of Brazil's lower house of congress, has said he wants to remove the power of the central bank to independently set interest rates.
Fukui says policy may not change with positive CPI
Bank of Japan governor Toshihiko Fukui said Thursday the central bank would not necessarily abandon its ultra-easy credit policy once the core consumer price index stops falling.
Norway's Bergo on business cycles, monetary policy
In a speech on 'Business cycles and monetary policy' given on 21 April, Jarle Bergo of Norges Bank said the Norwegian economy is growing at a solid pace and there are prospects that growth will remain high.
A post-reflation monetary framework for Japan
Modifications to Japan's monetary policy framework will be needed as positive inflation resumes because the current monetary regime and operations are tailored to ending deflation, this IMF Working Paper says.
Fed's Roseman on developments in payment systems
In testimony on 'Recent developments in the payments system' given on 20 April, Louise Roseman of the Federal Reserve said the payments system in the United States is continuing to change and become increasingly efficient. However, the shift away from…
Fed's Ferguson on central banking in the US
In a speech on 'The evolution of central banking in the United States' given on 27 April, Roger Ferguson of the Federal Reserve said that central banking practice adapts over time as markets evolve and this had been the Fed's experience and would likely…
Russian central bank to increase euro weighting
The Central Bank of Russia plans to increase the euro's weighting in its bi-currency basket to 0.3 soon, CB First Deputy Chairman Alexei Ulyukayev told a press conference on Tuesday 26 April.
Buba's Weber says Q1 growth high
Bundesbank President Axel Weber said on Tuesday 26 April that Germany's economic growth in the first quarter was likely the "strongest" in the year, and is estimated to have posted "roughly about 0.5 pct" GDP growth.
High oil prices 'handicap' eurozone says Issing
European Central Bank chief economist Otmar Issing said on Tuesday 26 April that the high price of oil is a "handicap" to the euro zone economy.
PBOC sees three risks to China's banking system
Chinese banks continues to face three major kinds of risk, namely credit risk, performance risk and trans-business risk, according to Xiang Junbo, deputy governor of the People's Bank of China.
ECB report confirms reserve diversification plan
The European Central Bank confirmed in its annual report on Tuesday 26 April that it is working on significant changes to its foreign reserve management strategy that would allow diversification into different financial instruments.
BOJ's Fukui on the bank's Semiannual Report
In a speech given on 31 March (published 22 April), Toshihiko Fukui of the Bank of Japan said that although Japan's economy is at a pause, it is expected to continue recovering with the further expansion of overseas economies and progress in adjustment…
Does excess liquidity pose a threat in Japan?
This IMF Discussion Paper examines the effects of quantitative easing implemented by the Bank of Japan since early 2001, looking specifically at the impact on inflation expectations and real asset prices.
Trichet on the euro: One currency, one market
In a speechon 'The euro: one currency, one financial market' given on 19 April, Jean-Claude Trichet of the ECB said that inflation expectations for the dozen countries that use the euro are in line with the ECB's goal of keeping consumer price increases…
Fed's Ferguson on the US current account deficit
In the speech 'U.S. current account deficit: Causes and consequences' given on 20 April, Roger Ferguson of the Federal Reserve said that America's current account deficit does not mean the world economy is doomed because its root is likely the…
European Central Bank - Annual Report 2004
The ECB published its Annual Report for the year ended 2004 on Tuesday. Lucas Papademos said there should not be any negative economic consequences from the loosening of the stability and growth pact's fiscal policy rules if the reformed pact is…
Russia and SARB hold first consultations
The Central Bank of Russia and the Reserve Bank of South Africa have held consultations in Pretoria, the first in the history of bilateral relations, the Russian central bank's foreign and public relations department stated.
EU's Almunia says no ECB rate rise from French No
European Economic and Monetary Affairs Commissioner Joaquin Almunia said on Tuesday 26 April that the European Central Bank is unlikely to raise interest rates if France rejects the European Constitution in the May 29 referendum.
UK's Brown says IMF gold sales plan 'on the table'
British finance minister Gordon Brown said on Monday 25 April that his proposal to sell the International Monetary Fund's gold to finance debt relief for poor countries was still on the British agenda in spite of opposition from the US.
Tanigaki says economy still in moderate deflation
Japan is still in ``moderate deflation'' and policy makers should keep attempting to overcome it, Finance Minister Sadakazu Tanigaki said on Tuesday 26 April.
RBZ drawing up economic recovery plans
Reserve Bank of Zimbabwe governor, Dr Gideon Gono, said on Monday 25 April that the RBZ was drawing up an appropriate and effective response to the various challenges facing the country.
IMF paper on cb losses in selected countries
The IMF Working Paper "Central bank losses and experiences in selected countries" April 2005 says that under normal circumstances, a central bank should be able to operate at a profit with a core level of earnings derived from seigniorage. However,…
ECB assessment of securities settlement systems
The Governing Council of the European Central Bank updated the assessment of securities settlement systems (SSSs) eligible for the settlement of collateral for Eurosystem credit operations, on Thursday 21 April.