Central Banks
MPC recruit Lambert urges UK Treasury drop secrecy
The most recent member of the Bank of England's monetary policy committee called for openness and transparency in the selection process of appointees to the MPC when facing the Treasury select committee on Monday 16 June, according to a report by the…
Japan's support for inflation targeting grows
Minutes of the Bank of Japan's April meeting published on Monday 16 June showed that at least two of the BoJ's nine policy board members favour the introduction of a "reference rate of inflation" to halt deflation, according to a report in the Financial…
Banco de Mexico sues over loans
The central bank of Mexico announced on Monday 16 June that it had sued four of the country's largest banks to release information related to bad loans during the mid-1990s peso crisis, according to Reuters.
New governor of Bulgarian national bank by Friday
Bulgaria's parliament is now expected to name the new governor of the central bank by the end of the week, according to Novinite. The further delay stems from the need to find a third candidate as "two candidates for Governor is no choice at all," the…
Interview with Bank of England's Stephen Nickell
UK inflation has peaked and will soon head lower, Bank of England Monetary Policy Committee member Stephen Nickell told Reuters in an interview on Tuesday 17 June. He also played down the importance of the government's plan to switch the Bank's inflation…
Fed Reserve Bank of New York - Annual Report 2002
The Federal Reserve Bank of New York has published its Annual Report for the year ended 2002.
Norges Bank - Annual Report 2002
The Norges Bank has published its Annual Report for the year ended 2002.
Fabritius on central banks role in payment systems
In a speech on 'The evolving role of central banks in payment systems: service providers and/or overseers?' Hans Georg Fabritius of the Deutsche Bundesbank said there are two main developments which are already identifiable but which will require further…
Large on convergence in insurance and banking
In a speech on 'Convergence in Insurance and Banking: Some Financial Stability Issues' Andrew Large of the Bank of England said the data deficiencies we confront today where the actual location of risk is so opaque is a major challenge. Better…
Bank of Estonia - Annual Report 2002
The Bank of Estonia has published its Annual Report for the year ended 2002.
ECB's Issing not worried by euro rise - Report
Rather than being overvalued the euro is, in European Central Bank chief economist Otmar Issing's view, "above all" a correction of its previous undervaluation, he told Der Spiegel magazine.
Rate commitment could hit Fed credibility-Broaddus
Richmond Fed president Alfred Broaddus has warned the Federal Reserve may lose credibility if a commitment to hold interest rates down to fight deflation becomes difficult to maintain due to an unexpected shift in the economy's fortunes, according to…
Iraq shadow over the BIS?
Some European central bankers are said to be unhappy with the recent appointment of Roger Ferguson as head of the Financial Stability Forum. It is not that Ferguson is thought to lack qualifications for the job - quite the contrary, there is much respect…
Shift at the FSF
But so far as the FSF goes, there is more to the criticism than sheer old European bloody-mindedness. The appointment does signal a shift.
Basel bunkum
No one understands the new Basel accord. Grown men are reduced to tears when they try. There are simply too many details for any one person to digest. But it is troubling indeed to learn that people don't even seem to understand how it was arrived at in…
Trichet brings SDRM down to earth
The IMF's much-vaunted Sovereign Debt Restructuring Mechanism is the latest casualty in a string of apparently wasted efforts in attempting to find some way to save the world from the terrors of sovereign default. But a few months ago Banque de France…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…