Central Banks
Fed's Greenspan on energy
In the speech 'Energy' given on 20 May Alan Greenspan of the Federal Reserve said a modest easing in oil demand in response to higher prices should keep inventories rising in the U.S. and elsewhere for some months.
Chicago Fed National Activity Index, Apr 2005
The Chicago Fed National Activity Index for April 2005 was +0.10, up from -0.04 in March. Two of the four broad categories of indicators that comprise the index-employment and consumption and housing-made positive contributions.
Kosovo to establish a central bank
Economy and Finance Minister Haki Shatri told KosovaLive website that UNMIK (UN Interim Administration Mission in Kosovo) and the government finally have agreed that Banking and Payment Authority of Kosova will become the Central Bank of Kosova.
Iraq central bank plans payment transfer system
Iraq's central bank plans to implement a new interbank payment system that will revolutionize the country's inefficient banking system by the end of this year, Governor Sinan al-Shabibi said in an interview Friday 20 May.
Lacker says Fed may offer too many bank services
Richmond Federal Reserve Bank President Jeffrey Lacker said on Friday 20 May it was "hard to justify" the level of services the Fed provides for banks, particularly for clearing retail payments, such as check clearing.
Trichet sees many euro members breaking pact rules
European Central Bank president Jean-Claude Trichet said Monday 23 May many euro zone governments look set to return deficits above the stability and growth pact's limit of 3 pct of GDP this year.
Issing: Govts must deal with growth differentials
European Central Bank chief economist Otmar Issing said in a speech Friday 20 May euro zone growth differentials must be dealt with by national economic policies rather than by the ECB's interest rate policy.
Obituary: John Page 1923-2005
Elizabeth Hennessy looks back on the career of John Page, whose influence as chief cashier at the Bank ran throughout the City.
Central bankers’ cosy retreat
For 75 years the BIS has played a central and sometimes controversial role in bringing central banks together. Harold James reviews a new history of the bank.
The costs of capital inadequacy
Blair Baker reports on why Costa Rica’s central bank cannot afford to lower inflation.
Managing financial research in central banks
All central banks need to motivate and retain top-notch researchers. Philipp Hartmann and Myron Kwast describe how the ECB and the Federal Reserve do it.
Lookouts for financial instability
Can a central bank’s dealers help with market surveillance? Tim Young and John Nugée point to some of the difficulties and possible remedies.
Central banks feel the pinch
A falling dollar and low yields on traditional assets have hit balance sheets hard. Central Banking reports.
How central banks manage their finance
Robert Sleeper analyses the growing risks on central banks’ balance sheets, and asks: should they hold more capital?
Who holds the wealth of nations?
The growth of sovereign wealth funds, often managed outside central banks, has received little attention or analysis. Yet it is a major development in international finance, with implications for central banks writes Andrew Rozanov.
The pact’s last stand
Political tensions have been contained by the deal on deficits, but at what cost to Europe’s fiscal regime and its single currency? William Clarke reports from Brussels.
Dangerous drift in international money
The international monetary situation is being allowed to drift dangerously as the leading countries neglect the risks and ignore calls for reform. Robert Pringle reports from Beijing.
On the record - Mervyn King
In February, Mervyn King raised some thoughtful questions about the way the system works at present, and how it might in the future.
Trapped by the international dollar standard
The three following articles raise troubling questions about the world economy. Here, Ronald McKinnon argues that America’s addiction to deficits distorts the world system.
Interview: David Dodge
The governor of Canada’s central bank explains how the institution has contributed to the country’s remarkable recent economic performance.
News Analysis: News in debt
Paul Brione reports on controversial trades, very long bonds and over-issuance in sovereign debt markets.
International Journal of Central Banking launched
The first issue of the International Journal of Central Banking (IJCB) was published on Thursday 19 May.
BoE's Tucker reappointed to MPC
Paul Tucker, Executive Director for Markets at the Bank of England, has been reappointed for a further three-year term as a member of the Monetary Policy Committee with effect from 1 June 2005.