Central Banks
Korea's central bank to restructure
The Bank of Korea (BOK) is to revamp its internal structure in an apparent bid to repair its reputation as an influential voice in the nation's economy, the Korea Times reported Tuesday.
A new approach to liquidity management
Management of its foreign exchange exposure by a multinational firm provides a template for managing official reserve assets, argues Robert Z. Aliber.
Research on financial stability
This article reviews recent developments in some of the most promising areas of academic research related to financial stability.
The pursuit of financial stability – an outside view
A two-part survey of central banks’ work in financial stability – the first article offers a critical assessment, the second an overview of current policy-oriented research. By Robert Pringle.
Trends in money market operations
How will the Bank of England’s new system compare with the frameworks used by the ECB and other leading central banks? Central Banking looks at recent changes.
London’s new model money markets
Bill Allen, who retired last year as director for Europe at the Bank of England, discusses the Bank’s recent plans to change how it sets interest rates.
Mexico on an upswing
Mexico’s inflation has come down and the economy has recovered sharply, but can the central bank keep up the good work? Benedict Mander reports.
Turkey gains monetary credibility
Nick Carver reports on Turkey’s struggle for monetary credibility and its plan to celebrate with a new lira: is it too good to be true?
News Analysis: Chinese central banker calls on the Fund to adjust
More countries should have a meaningful say at the IMF, according to Li Ruogu.
News Analysis: Key insight embodied in new technology
Following the news that this year’s winners of the Nobel prize for economics are Finn Kydland and Edward Prescott, Paul Brione spoke with Edward Prescott, who currently works at the Federal Reserve Bank of Minneapolis. Here is his report on their…
A precarious prosperity
Central Banking reviews a new guide to London’s financial centre.
The role of central bank capital
A new ECB paper provides a theoretical underpinning to the case for central banks to hold adequate capital. An assessment by Paul Brione.
How Nobel prize winner changed central banking
Edward Prescott, recent recipient of the Nobel prize for economics, spoke to Central Banking's Paul Brione about the monetary policy research which won him the prize. CentralBankNet brings you an exclusive extract.
Fed's Ferguson on equilibrium real interest rate
In a speech on 'Equilibrium real interest rate: Theory and application' given on 29 October, Roger Ferguson of the Federal Reserve said that policymakers cannot rely on a formula to decide the proper level for U.S. interest rates, but must always judge…
Buba's Weber on the state of European integration
In the speech 'State and challenges of the European integration' given on 25 October Axel Weber of the Deutsche Bundesbank said we have a good prospect of dealing successfully with the growing diversity of the EU economy after enlargement if monetary,…
Sweden's Heikensten at the Riksdag Committee
In a speech on monetary policy given to the Riksdag Committee on Finance on 14 October, Lars Heikensten of the Sveriges Riksbank said as the economic upturn progresses and resource utilisation increases further, it is reasonable to assume that monetary…
Fukuma on recent economic developments in Japan
In a speech on 'Recent economic and financial developments in Japan' given on 30 September Toshikatsu Fukuma of the Bank of Japan said growth in Japan this fiscal year will exceed the central bank's 3.1 percent forecast as the Japanese economy heads…
IMF paper on the art of central banking
The IMF working paper 'Deconstructing the art of central banking' proposes a significantly different transmission mechanism from monetary policy to the macroeconomy, focusing on how policy changes nominal inertia in the Phillips curve. The authors find…
BoE's CCBS organising seminar in Bahrain
The Bank of England's Centre for Central Banking Studies (CCBS) is organising the first Monetary Policy and Operations seminar in Bahrain this month.
Moskow stresses importance of local economies
Chicago Federal Reserve President Michael Moskow spoke at a conference on Friday 29 October, but made no comments on the economic outlook or monetary policy.
Japan's Koizumi says steady recovery desirable
Japanese Prime Minister Junichiro Koizumi said on Monday 1 November that he wants Japan's economy to recover "at a steady pace" as the central bank released redesigned and more secure banknotes for the first time in 20 years.
Zimbabwe to tap huge platinum reserves
Reserve Bank of Zimbabwe governor Gideon Gono said over the weekend that the government was in talks with foreign investors to tap huge platinum reserves valued at 290 billion US dollars.
Report says Argentina to relax forex controls
The Argentine central bank will try gradually to lift controls imposed on foreign exchange transactions, daily La Nacion reported, without naming sources.