Feature
The Georgian era at the Bank of England
Elizabeth Hennessy describes the far-reaching changes at the Bank over the last ten years and admires the result – a stylish, independent-minded, determined, independent and slimmer Old Lady.
A spring-cleaning for the Eurosystem
As the Eurosystem prepares for the arrival of new members, it has first to attend to some housekeeping. A report by Nick Carver
The stability and growth pact: next steps
A flexible and cyclical assessment of euro countries’ finances will mean earlier warnings from Brussels. Has the pact bounced back? William M. Clarke reports.
A BIS embarrassed
Defeat for the BIS by minor shareholders was embarrassing and it has consequences for central banks with private shareholders, reports William Hall.
Why price stability is not enough
The current fashion for inflation targetting ignores the perils of asset bubbles, and cannot react adequately to the fallout. A much longer view is needed, contends Stephen King.
Further problems of inflation targets
For inflation targets to work the public must have faith in official statistics. The trouble is they often don’t.
Central role for ECCB
Michael Imeson looks at the economic problems facing the Organisation of Eastern Caribbean States, and what the Eastern Caribbean Central Bank is doing to help stimulate development.
St Helena’s forgotten currency board
St Helena’s small but perfectly formed currency board provides an example to the rest of the world, argue Steve Hanke and Matt Sekerke.
The benefits of a broader Basel
Ignoring the benefits of a diversified portfolio will penalise developing markets, argue Stephany Griffith-Jones, Stephen Spratt and Miguel Segoviano.
How a central bank should talk
Tony Morrison of the Bank of Jamaica gives his view on how central banks should deal with the media. Reticence is not the answer.
Management of reserve assets
SAMA employs tranching as a means of managing diversification of assets to improve the return on its reserve portfolio.
Leadership and management of central banks
“Almost by definition, central banks lack comparative advantage in managing organisational change”, argues John Mendzela. In the second of two articles, he outlines measures of efficiency and performance.
How to reform the stability and growth pact
Willem Buiter proffers his alternatives to the “stupid” arrangement.
The politics of the Eurosystem
Constitutional discussions in Europe have steered clear of the ECB, but may yet impact on Europe’s only federal institution, argues Graham Bishop.
New directions for the ECB
Enlargement, a new president and a review of policy have far-reaching implications for Europe’s central bank, says Philip Lane.
Why is the gold price rallying?
Despite talk of deflation, concerns over the dollar’s strength have boosted gold’s standing, says David Hale.
Leadership and management in central banking
Future demands on central banks require them now to adopt innovative approaches to leadership and management, argues John Mendzela in the first of two articles.
The costs of conversion for the UK
Graham Bannock, of Bannock Consulting, puts a figure of £12 billion on a switch to the euro for British business. For many, especially small firms, cost will exceed benefit, which may explain why most of them oppose UK entry.
The euro goes East
Tommaso Padoa-Schioppa reports the results of a survey by the ECB on the private holdings and use of the euro outside the euro area itself.
Review of Financial crises and what to do about them
Barry Eichengreen finds a middle way between past policy failings and current lofty aims in his financial crisis handbook, says Benedict Mander.
Organisational structure and staff
This article outlines the structure of the agency’s staff and the importance of human resource development to the central bank
Development of the Saudi banking system
SAMA has been actively involved in regulation and supervision, and has taken the lead in the development of the payments system in Saudi Arabia.
The conduct of monetary policy
This article presents the objectives, instruments and recent developments in SAMA’s operating framework of monetary policy.
SAMA’s role in the Saudi economy
Since its inception in 1952, SAMA has overseen momentous changes in the Saudi economy as well as taking an active role in the development of the banking sector and capital markets.