Central Banks
Interview: Jacques de Larosière
Key European countries are guilty of “systematic slippage” in fiscal affairs. So says the former managing director of the IMF and governor of the Banque de France, Jacques de Larosière, in this week’s CentralBankNet Monday special
Easing out of Monetary Easing
As an end to deflation nears, the Bank of Japan faces the tricky question of how to leave behind its policy of "quantitative easing". The San Francisco Fed has some advice.
Reserve Bank of Fiji quarterly review, September
The Reserve Bank of Fiji expects "good growth" for the domestic economy in 2004 according to its third quarter review. "Upbeat" consumer spending, the "strong performance" of the cane and sugar industries and the "outstanding performance" of the tourism…
Devaluation dangers for the United States
Large cross-border holdings of foreign assets and liabilities mean that exchange rate adjustment has grown in importance relative to the traditional trade balance channel, argue the authors of a new CEPR discussion paper. The paper empirically explores…
China's Zhou on prospects for a soft landing
The governor of the People's Bank of China claims that China's economy is on course to avoid a hard landing, and that measures taken by the central bank to cool the economy are working.
Won and Yen rise with no intervention expected
The Korean and Japanese currencies rose against the dollar on Monday, amid speculation that authorities would refrain from aggressive intervention this time.
RBA appoints head of economic research
The Reserve Bank of Australia announced on Monday 8 November the appointment of Dr Christopher Kent to the position of Head of Economic Research.
ECB mourns death of Eugenio Domingo Solans
Former member of the Executive Board of the European Central Bank Eugenio Domingo Solans died earlier this week after a long illness. In a message from the President on behalf of the ECB, Jean-Claude Trichet said the ECB was mourning a very dear…
BIS appoints Peter Dittus as Secretary General
The Board of Directors of the Bank for International Settlements (BIS) announced on Monday 8 November the appointment of Peter Dittus as Secretary General for a five-year term.
Wellink to continue as Chairman and BIS President
The Board of Directors of the Bank for International Settlements (BIS) announced on Monday 8 November the re-election of Nout Wellink, President of the Netherlands Bank, for a second three-year term as Chairman of the Board and President of the BIS.
Bumpy road seen for next Fed chief
Newly re-elected George W. Bush is likely to pick from five "qualified" successors to fill Federal Reserve chairman Alan Greenspan's shoes, this article says, with the real issue being their ability to match chairman Greenspan's deft touch in the conduct…
Fukui on the Euro-Dollar regime and the Yen
In the speech 'The Euro-Dollar Regime and the Role of the Yen: Their Impact on Asia' given on 12 November, Toshihiko Fukui of the Bank of Japan said a common currency in Asia similar to the euro in Europe is possible within five decades.
ECB's Papademos on the euro: five years on
In a speech on 'The euro: five years on - Implications for Asia' given on 12 November, Lucas Papademos of the ECB said five years after its introduction, the euro is a solid, stable currency in which the markets and the public have confidence.
Riksbank's Srejber on the power of transparency
In a speech on 'The power of transparency for macroeconomic discipline' given on 11 November, Eva Srejber of the Sveriges Riksbank said the experience of central banks is that transparency and goals help form expectations and behaviour, enlisting the…
The leak in China's banking system
The People's Bank of China's surprise decision to raise interest rates for the first time in nine years on 28 October prompted much speculation on the reason for the move. Some commentators said it marks the beginning of a liberalized interest-rate…
Korea cuts interest rates to record low
The Bank of Korea unexpectedly cut interest rates to a record low of 3.25 per cent on Thursday 11 November, moving its policy focus to growth from inflation.
Report says Taiwan concerned on hot money
Taiwan's central bank has indicated concerns over hot money inflows to Asia and the impact of an appreciation of currencies in the region, the Economic Daily News reported.
Gonzalez-Paramo says ex rate volatility excessive
Jose Gonzalez-Paramo, a member of the European Central Bank's governing council, said the ECB sees the volatility of the euro/dollar exchange rate as "excessive" after the euro broke the psychologically important 1.3 dollar threshold.
EU, ECB hail Japan's progress on bad loans
The European Union and the European Central Bank on Thursday 11 November celebrated the progress made by Japan's banking sector in reducing its bad loans, which have conspired to keep Japan in an economic downturn following the early 1990s asset price…