Central Banks
Measured rate rises working- Fed's Bernanke
Federal Reserve Governor Ben Bernanke said on Thursday 25 February that with US inflation controlled the Fed can continue with its policy of gradual interest rate increases.
Paraguay to implement electronic payment system
Paraguay's central bank (BCP) plans to implement an electronic payment system costing US$5mn in order to facilitate the flow of documents with other public bodies, local newspaper La Nacion reported.
Sri Lanka's Mendis on central bank governance
In a speech given on 29 January (published 11 Feb) Sunil Mendis of the Central Bank of Sri Lanka said the strategic plan of a central bank should be formulated in such a way that it strategically links its goals, objectives and action plans to the…
CGFS announces 4th central bank conference
It was announced on Wednesday 23 February that the European Central Bank in co-operation with the Bank of Japan and the Board of Governors of the Federal Reserve System, will host the fourth in a series of joint central bank research conferences on risk…
BoE's Lomax: Mon. stability matters to Merseyside
In the speech 'Why monetary stability matters to Merseyside' given on 24 February Rachel Lomax of the Bank of England said the Bank sees a rebound in household spending and may not be able to wait before increasing interest rates.
Federal Reserve Minutes from Feb meeting
Minutes from the Federal Reserve's 1 and 2 February meeting published on Wednesday 23 February revealed broad agreement among members of the Federal Open Market Committee on the need for further rate increases to prevent accelerating inflation.
Foreign reserves, Asia's problem of plenty
The dilemma facing many of emerging Asia's economies over how best to use their massive stock of dollar reserves is hardly new, this article says, but some economists suggest spending central bank reserves on domestic projects, rather than leaving them…
PBoC will 'actively promote' exchange rate reform
The People's Bank of China said in a report released on Thursday 24 February that it will "actively promote" reform of the exchange rate regime this year.
ASEAN currency swap deal extended
Central bankers from the Association of Southeast Asian Nations signed an agreement on Thursday 24 February to extend until 2006 a currency swap deal intended to help ASEAN members experiencing international liquidity problems.
BOK's Park says 'no such plans' on dollar sales
The Bank of Korea has no plans to sell dollars out of the country's foreign reserves and replace them with other currencies, bank chief Park Seung said on Thursday 24 February .
RBI's Udeshi on the pursuit of financial stability
In a speech on 'The pursuit of financial stability' given on 10 February, Smt. KJ Udeshi of the Reserve Bank of India said India's banking regulator will continue to focus greatly on financial stability, considering that the country is more vulnerable to…
Philadelphia Fed Business Outlook Survey, Feb 2005
According to the firms surveyed for the Philadelphia Fed's Business Outlook Survey, February 2005, expansion in the region's manufacturing sector is growing at a slightly faster rate than in January.
BoE's Bean: Monetary policy in an uncertain world
In a speech on 'Monetary policy in an uncertain world' given on 22 February, Charles Bean of the Bank of England said that uncertainty is an ever-present feature of the economic landscape that monetary policy makers cannot escape.
Bank of England MPC Minutes, 9 &10 February
The minutes from the 9 &10 February meeting of the Bank of England's Monetary Policy Committee published on Wednesday 23 February showed eight members voted to hold interest rates unchanged, with Paul Tucker voting against, preferring a rise in the repo…
Fukui says reserve target assessment in April
Bank of Japan Governor Toshihiko Fukui said Wednesday 23 February the central bank will decide after April if its target for reserves available to lenders is appropriate, adding that the policy of pumping funds into the economy will be maintained.
ECB's Caruana says inflation outlook favourable
European Central Bank governing council member Jaime Caruana said in a speech the eurozone's inflation outlook is relatively favourable and inflation should fall below 2 per cent in the coming months.
ECB policy 'appropriate' according to Tietmeyer
Former Bundesbank President Hans Tietmeyer said in an interview with Bloomberg television the European Central Bank's interest rates were at the right level and called on countries to respect for the European Union's rules on budget deficits.
IMF's Rajan says Europe needs 'balanced' Pact
Europe needs balanced budget rules to boost economic growth, the IMF's Chief Economist Raghuram Rajan said in an interview published on Wednesday 23 February, referring to recent plans to revamp the European Union's Stability and Growth Pact.
South Korea's central bank denies dollar sale plan
The Bank of Korea denied on Wednesday 23 February that it planned to offload its US dollar assets after media speculation it was about to do so sent the US currency falling.
SNB's Hildebrand on the hedge fund industry
In a speech on 'Developments in the Hedge Fund industry' given on 4 February, Philipp Hildebrand of the Swiss National Bank said hedge funds have been an important source of innovation in the asset management industry. They have rendered financial…
Hurley: Ireland's & Europe's economic performance
In the speech 'Some perspectives on Ireland's and Europe's economic performance' given on 28 January, John Hurley of the Central Bank and Financial Services Authority of Ireland warned about competitiveness threats to both the Irish and European…
Bank of Japan Minutes, 18 and 19 January
The Bank of Japan's minutes from its 18 and 19 January monetary policy meeting published on Tuesday 22 February revealed that board members discussed lowering the central bank's liquidity target as a response to improved financial stability.
Phil Fed's Survey of Professional Forecasters
The Federal Reserve Bank of Philadelphia has published its First Quarter 2005 Survey of Professional Forecasters. Economic growth in the first half of 2005 looks stronger now than it did three months ago, according to 36 forecasters surveyed.
BIS's Sleeper: How cbs manage their finances
In a speech 'How central banks manage their finances' given on 18 February, Robert Sleeper of the BIS said the fact that central banks are increasingly taking risks in an attempt to improve the return on their reserves raises the question of whether or…