Central Banks
Dilemma facing Southeast Asia's central banks
This article published on Thursday 21 April looks at the situation of Asian central banks. A cocktail of rising inflation, slower economic growth and "an aggressive" Federal Reserve is forcing local central banks to raise interest rates when their…
Cleveland's Pianalto says hikes on way to neutral
Speaking on Thursday 21 April, Sandra Pianalto, President of the Cleveland Fed said the Federal Reserve will continue its measured pace of interest rate hikes to bring rates back to neutral and preserve price stability, its most important task.
World Bank says China exchange rate move welcome
The World Bank has said it supports China's plan to move towards a more flexible exchange rate system as it would help the government with the conduct of its domestic monetary policy.
Fed chief says China rate move should come soon
Fed chairman Alan Greenspan told the US senate on Thursday 21 April that growing economic pressure will force China to change its policy of pegging its currency to the dollar at some point, and the sooner it happens the better.
Tanigaki says inflation targeting debate important
Japanese Finance Minister Sadakazu Tanigaki said Friday 22 April that it would be important for the Bank of Japan to consider inflation targeting as a monetary policy option once the country overcomes deflation.
Richmond Fed's Lacker on consumer finance
In a speech given on 7 April Jeffrey Lacker of the Federal Reserve Bank of Richmond said one of the primary functions of financial markets is to allocate risk. In consumer finance, borrowing and saving are important tools in households' efforts to…
NY Fed's Geithner on financial integration
In a speechon 'Financial integration and its implications for international cooperation' given on 19 April, Timothy Geithner of the Federal Reserve Bank of New York said financial integration offers great benefits but requires stronger national…
Sweden's Persson: Employment in a globalised world
In a speech on 11 April, Sveriges Riksbank deputy governor Kristina Persson said as a small open economy that produces high value added goods and services, Sweden should be well capable of meeting restructuring pressures in the future.
Federal Reserve Board - Beige Book, April 2005
The Federal Reserve published its April 2005 Beige Book survey on Wednesday 20 April. The report said US business activity continued to expand through early April, but price pressures from rising energy costs have intensified in some areas.
Fed's Greenspan on budget process reforms
In testimony on 'Budget process reforms' given on 21 April, Alan Greenspan of the Federal Reserve said huge budget deficits pose a danger to the nation's long-term economic health.
BoJ's Fukui sees economy recovering
Bank of Japan governor Toshihiko Fukui said on Thursday 21 April that the world's second-largest economy remained on a recovery track in spite of cautious business sentiment.
MOF's Asakawa says Japan won't diversify reserves
According to Japanese Ministry of Finance official Masatsugu Asakawa, Japan doesn't plan to change the percentage of US dollars in its $838 billion official reserve assets, the world's largest.
Ferguson says Fed right to watch prices
Speaking on Wednesday 20 April, Federal Reserve Vice Chairman Roger Ferguson said the US central bank was correct to keep its eye on inflation pressures, but noted some volatile components contributed to a surprisingly big rise in core consumer prices in…
IMF's Rato sees S American inflation decline in 05
The head of the International Monetary Fund said on Wednesday 20 April that Latin America is likely to see a further decline in inflation in 2005, despite higher oil prices.
Phil Fed's Santomero on the recent business cycle
In a speech on 'A policymaker's reflections on the recent business cycle' given on 12 April, Anthony Santomero of the Federal Reserve Bank of Philadelphia said the United States is on track for solid growth with relatively stable prices, but high oil…
Buba's Stark on changing global economic structure
In a speech on 'The changing global economic structure: a view from Europe' given on 14 April Jurgen Stark of the Deutsche Bundesbank said the future international role of the EU will depend on the speed and the results of the adjustment and reform…
HKMA Annual Report 2004
The Hong Kong Monetary Authority on Tuesday 19 April published its Annual Report for 2004. The Report reviews trends and events in monetary and banking affairs and reports on the HKMA's work during the year. It also sets out plans for the coming year.
Bank of England MPC Minutes, 6 & 7 April
The minutes from the 6 & 7 April meeting of the Bank of England's Monetary Policy Committee published on Wednesday 20 April showed policy makers voted 7- 2 to keep interest rates unchanged this month, the same split as in March, with the majority saying…
Fed's Yellen positive on inflation outlook
Janet Yellen, the president of the San Francisco Federal Reserve bank, said she is upbeat about the outlook for inflation and watching closely to see whether the economy hit a soft-spot in March.
Pianalto: Fed should extend inflation forecasts
The Federal Reserve would gain credibility by being more clear, and extending its inflation forecasting time horizon would help, the president of the Federal Reserve Bank of Cleveland said in a speech on Tuesday 19 April.
Poole warns not to expect predictable rate rises
A top Federal Reserve policy-maker said on Tuesday 19 April that US inflation prospects are good but markets should not expect a re-run of last year's predictable pattern of interest rate rises.
Buba and German govt in united front after tension
The German government and the Bundesbank presented a unified image on economic matters following a meeting in Berlin called after reports of rising tensions over fiscal policy reforms.
Fed's Bies on the economy and personal finances
In a speech on 'The economy and managing personal finances' given on 18 April, Susan Bies of the Federal Reserve said the US central bank must step up its vigilance against inflation but indicated that she believed "measured" interest-rate rises could…
Fed redesigns financial education website
The Federal Reserve announced on Monday 18 April that it has redesigned its financial education website to increase the use of Federal Reserve educational materials and promote financial education in the classroom.