Central Banks
Spain's Paramo gets ECB green light
Eurozone finance ministers decided on Thursday March 25 to propose Spain's Jose Manuel Gonzalez-Paramo to the European Central Bank's Executive Board.
Fed's Kohn on monetary policy
In a speech on 'Monetary Policy in a Time of Macroeconomic Transition' given on 25 March, Donald Kohn of the Federal Reserve said the Fed should make sure inflation has stabilised and labour market slack is easing before raising interest rates from their…
BoE's Nickell on European unemployment
In a speech 'A Picture of European Unemployment: Success and Failure' given on 26 March, Stephen Nickell of the Bank of England said average unemployment in Europe today is relatively high compared with OECD countries outside Europe. The majority of…
Central bank financial independence
This Bank of Spain Occasional Paper says that central bank independence is a multifaceted institutional design but the financial component has rarely been analysed. The paper sets out a comprehensive conceptual background for central bank financial…
Belgium's Praet calls for transparent selection
Belgian National Bank official Peter Praet, Belgium's unsuccessful candidate for the ECB said on Thursday 25 March that the process for selecting members of the ECB's executive board must be made more transparent.
Ghana to be HQ for West African central bank
The headquarters of the West African Central Bank (WACB) has been given to Ghana. The disclosures were made in Abuja Thursday by the Director of West African Monetary Institute (WAMI), the Nigerian-born Dr Michael Ojo, reports said.
RBI starts live operation of RTGS system
After a two-month trial, the Reserve Bank of India on Friday 26 March began live operations of the Real Time Gross Settlement (RTGS) system but only inter-bank transactions are being put through.
ECB remains vigilent but expects recovery
ECB executive board member Gertrude Tumpel-Gugerell said in an interview Friday that the ECB still believes the eurozone economy will recover, but remains vigilant for any issues that could change that assessment.
Riksbank Bergstrom: Scope for easier policy
Deputy Governor of the Sveriges Riksbank Villy Bergstrom said in a speech on Friday 26 March that the latest Swedish economic data show that there is "some scope" to ease monetary policy further.
BOJ's Fukuma says Japan headed for recovery
The Japanese economy appears headed toward a stable recovery, a Bank of Japan policy board member said on Thursday 25 March, as the strong export-led rebound continues.
Monti in as candidate for IMF
EU competition commissioner Mario Monti has been put forward as a possible candidate to head the International Monetary Fund, according to a report.
Greenspan cancels speech with cold
Federal Reserve Chairman Alan Greenspan was due to make scheduled introductory remarks at a Fed conference in Washington on Friday (26 March) because of a cold, a spokesman said on Friday.
Viyuygin to take up post at Russian regulator
Russian Prime Minister Mikhail Fradkov on Wednesday (24 March) appointed Oleg Vyugin, deputy chairman of the Russian central bank, as chairman of the national securities market regulator, the government said.
Bank of Israel staff plan strike action
The governor of the Bank of Israel David Klein met Thursday (25 March) with the secretariat of the Histadrut labour federation's bank workers' unit, Zion Shema, in an effort to avert a strike at the central bank.
Bank of England's finest audition as press
Unusual scenes at the UK parlaiment's Treasury select committee Thursday when more women than men turned out for the Bank of England's team for the first time.
Guynn on US growth and monetary policy
In a speech on 'Sustainable Growth and Monetary Policy' given on 24 March, Jack Guynn of the Federal Reserve Bank of Atlanta said low US interest rates must rise as the economy gathers steam, and while that point has not yet been reached, businesses and…
Chicago Fed's Moskow on the US economic outlook
In a speech on the 'U.S. Economic Outlook' given on 22 March, Michael Moskow of the Federal Reserve Bank of Chicago said that the Fed can't maintain its rate stance "indefinitely," predicting that as the economy gains strength the Fed's interest rate…
Boston Fed's Minehan on labour markets
In a speech on 'Labour Markets: What We Know and What We Don't' given on 24 March, Cathy Minehan of the Federal Reserve Bank of Boston said the Federal Reserve should not be so patient about keeping the benchmark interest rate low that it allows…
RBNZ's Orr on exchange rate intervention proposal
In a speech on the Reserve Bank of New Zealand's exchange rate intervention proposal given on 25 March, Adrian Orr of the RBNZ said that what the RBNZ is recommending is intervening when the moment is justified and opportune, with the outcome of trimming…
Mervyn King's Statement to UK Treasury Committee
Bank of England Governor Mervyn King told the UK parliament's Treasury Select Committee on Thursday 25 March that he wants to update the trade-weighted sterling index and has been in talks about doing so.