Central Banks
Bank of Canada appoints new deputy governors
The Bank of Canada announced the appointment of two deputy governors to its interest rate setting governing council on Tuesday. David Longworth joined the Bank of Canada in 1974 and Mark Carney represents the addition of an outsider from an investment…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - In this week's Special Feature CentralBankNet presents extracts from an exclusive interview with Professor Manfred Neumann of the University of Bonn. In the interview Professor Neumann spoke to Central Banking journal's Editor Robert…
Michael Moskow on the economic outlook
In a speech on 'Economic Outlook' Michael Moskow of the Federal Reserve Bank of Chicago said the road to recovery for the economy has turned out to be bumpier than expected. But underlying trends in productivity are strong and although there is still a…
Bergo on inflation targeting with variable ex rate
In a speech on 'Inflation targeting with a fluctuating exchange rate' Jarle Bergo of Norges Bank said experience has shown that monetary authorities do not have the means to control the exchange rate. Monetary policy has nevertheless, Bergo added, been…
Capital flows to emerging markets
A recent Working Paper from the Bank of England 'Capital flows to emerging markets' extends a model previously developed by Barro et al. The paper looks at the optimal rate at which capital should flow to emerging market economies. It suggests optimal…
Ensuring a balanced ECB Executive Board
On Tuesday 29 April at 9.30 , the Committee of Economic and Monetary Affairs will be holding a Confirmation Hearing of Gertrude Tumpel-Gugerell who has been nominated by the Council of Ministers as a member of the Executive Board of the European Central…
Greenspan returns to work after surgery
After undergoing surgery Alan Greenspan was back at work towards the end of last week for what was described as a routine work day, Associated Press reports.
NZ c bank to appoint new external monetary adviser
The Reserve Bank of New Zealand will appoint a new external monetary policy adviser, after placing newspaper adverts at the weekend, according to Dow Jones. The position plays a central role in advising the bank's governor Alan Bollard on interest rate…
Philippines c bank to tighten dollar transactions
The monitoring of dollar transactions will be tightened by the BSP (Bangko Sentral ng Pilipinas, the country's central bank)as part of an effort to plug loopholes in existing rules on currency forward transactions, says BusinessWorld.
ECB voting change could hinder UK euro entry
The UK's treasury select committee said on Monday April 28 in a report that the ECB's proposed change in voting arrangements could pose an "obstacle to entry" for Britain and the euro, according to the Financial Times.
Lithuania may be first from east to adopt euro
Lithuanian central bank chief Reinoldijus Sarkinas has said the east European country could be the first to adopt the euro in 2007 as it already meets conditions to adopt the single currency, according to a report by Bloomberg.
Bank of France :Trichet to propose branch closures
A report from Bloomberg news says Bank of France governor Jean-Claude Trichet will probably inform the central bank's board members that he plans to cut the central bank's branch network by more than 100.
Chile's new central bank chief tough but popular
The newly appointed president of Chile's central bank Vittorio Corbo has said the tight grip on inflation will be maintained as he takes office. Corbo is reported to joke, in the Reuters report, that markets rally every time U.S. Federal Reserve Chairman…
Repo rate left unchanged by Riksbank at 3.5%
Sweden's central bank left interest rates unchanged at its Thursday meeting citing the picture of future inflation it presented in the March Inflation Report as a major reason for the decision.
Bernanke - Will business investment bounce back?
In a speech 'Will Business Investment Bounce Back?' Ben Bernanke of the Federal Reserve said this recession is unique in being one of the few business-led-as as opposed to household-led-recessions of the post-World War II period. A strong recovery, he…
Moskow - Perspectives on Community Development
In a speech on 'Perspectives on Community Development' Michael Moskow of the Federal Reserve Bank of Chicago said we must be vigilant, creative and efficient in the way we conduct community development programs, learn from our mistakes and successes, and…
Solans on the ECB's Memorandum of Understanding
Eugenio Domingo Solans of the European Central Bank spoke of the close cooperation between the ECB and the European Commission (Eurostat) at the signature of the Memorandum of Understanding on Economic and Financial Statistics.
Chile appoints Corbo as new central bank president
Vittorio Corbo has been named the new president of the central bank of Chile, reports Reuters. The decision made by Chilean President Ricardo Lagos comes after Corbo's appointment to the Board of the central bank in early April.
Czech president slams central bank over deflation
An overly restrictive monetary policy has been blamed by the Czech President Vaclav Klaus for the deflationary trend seen in the past three months. Klaus also criticised inflation targeting saying it was only useful for discussions at economics…
Moskow says deflation unlikely but Fed stands by
The threat of inflation is low for the US economy, Reuters reports that Chicago Fed chief Michael Moskow said on Thursday April 24, but the Fed stands ready to react should it occur.
Swedish trade minister on ECB vote proposals
Sweden's trade minister has said the proposals for reform of the voting arrangements on the ECB's governing council will leave Sweden without a worthwhile role and the Swedish people as less than full participants, according to a report in the Swedish…
Bank of England condemns rise of red tape
In a report published on Thursday 24 April the Bank of England criticised proposed changes to the Consumer Credit Act saying it could lead to more complex regulation and limit competition, according to the Daily Telegraph.
Poland: Central bank cuts interest rates
Poland's central bank cut interest rates on Thursday 24 April by 25 points. The bank has come under sustained pressure from the Polish government which has complained of a too restrictive monetary policy, according to a report from the PAP news agency.
IMF calls for transparency on inflation
The IMF's chief economist Kenneth Rogoff questions the long-term inflation objectives of the Fed, ECB and Bank of Japan asking why they are so reluctant to speak about the subject in an article in the Financial Times. Would a bit more transparency hurt,…