News
RBA's McKibbin reappointed for five years
Australian Treasurer Peter Costello has reappointed professor Warwick McKibbin to the board of the Reserve Bank of Australia for a second five-year term beginning Monday 31 July.
Mishkin says forecasts are central to rate policy
Federal Reserve governor-designate Frederic Mishkin said in a letter to a lawmaker released on Friday 28 July that interest-rate policy must be based on economic forecasts and adjust as new data comes in.
What Ben Bernanke could learn from New Zealand
According to this article from Bloomberg, published Friday 28 July, while Fed chairman Ben Bernanke and the world's biggest policy makers don't often pay attention to New Zealand, they would be wise to follow Alan Bollard's progress.
New Zealand's new coins go into circulation
Smaller, lighter 50, 20, and 10 cent coins were released Monday 31 July in New Zealand. The new coins retain the same "heads" and "tails" designs but the 10 cent coin is copper-coloured, the RBNZ said.
IMF to appoint Jonathan Palmer to new CIO role
Rodrigo de Rato, Managing Director of the International Monetary Fund (IMF), announced Wednesday 26 July his intention to appoint Jonathan Palmer as Chief Information Officer (CIO) of the IMF and Associate Director of the Fund's Technology and General…
Mishkin to be sworn in after Aug 8 Fed meeting
Federal Reserve Governor-designate Frederic Mishkin will not take office in time to participate in the next Fed policy-setting meeting on 8 August, a Fed spokesman told Reuters on Thursday 27 July.
Cen bank reserve shifts not all that meets the eye
This article published Thursday 27 July by Reuters says a close look at IMF reserve data, and the dollar's moves in recent years, suggests central banks may not be undertaking conventional reserve diversification.
Central banks need not divine bubbles
According to this article by Samuel Brittan of the Financial Times, published Friday 28 July, the question of whether central bankers should target asset prices will not go away.
Interview: National Bank of Poland's Balcerowicz
In an interview with the Dziennik daily, published Friday 28 July, National Bank of Poland governor Leszek Balcerowicz said the central bank cannot be independent only as long as it is obedient.
China official mulls freer hand for central bank
According to this article from the Financial Times, published Friday 28 July, a People's Bank of China official has suggested policy making could be more effective if the central bank had more autonomy.
PBOC research head says yuan band wide enough
There is no need to widen the yuan-dollar trading band at the present time, the head of the research department within the People's Bank of China said in an interview.
Kohn says Fed policy lags may be shorter
The communication of interest-rate moves during the Fed's latest tightening campaign may mean their impact on the economy will be felt more quickly than otherwise, a top Fed official said in a letter released on Friday 28 July.
RBNZ leaves OCR unchanged at 7.25 per cent
The Reserve Bank of New Zealand announced Thursday 27 July that the Official Cash Rate (OCR) will remain unchanged at 7.25 per cent. Reserve bank governor Alan Bollard said: "Recent economic developments have been broadly in line with our June Monetary…
Central banking model for neither gods nor monkeys
According to this article by Paul de Grauwe, published Wednesday 26 July by the Financial Times, the first serious attempt to put central banking on a sound scientific basis failed miserably.
Gentle Ben - Inside the head of the Fed
This recent article published by Time says that after a few early missteps, Federal Reserve chairman Ben Bernanke is hitting his stride, but the economy may not cooperate.
Report says US offers China IMF role deal
The US is quietly offering the prospect that it will help China secure more power in the International Monetary Fund (IMF) if Beijing lets the yuan appreciate further against the dollar, the Wall Street Journal reported.
Minutes suggest smaller rate cuts in Brazil
Brazil's central bank said Thursday 27 July it sees a "low probability" of inflationary pressures in the coming quarters, but interest rate cuts may need to be smaller to avoid a pickup in inflation.
BoJ 'very careful' about drastic rate hike-Yosano
Japan's Economic and Fiscal Policy Minister Kaoru Yosano said Thursday 27 July the Bank of Japan is "very careful" about implementing credit tightening too drastically.
PBOC's Yu to stay in post until replaced - report
Yu Yongding, whose term is due to end this month, will remain in his post until a replacement is found, an official in the news department of the People's Bank of China told Dow Jones on Thursday 27 July.
IMF warns Poland over super-regulator
The International Monetary Fund has warned Poland that plans for a unified financial services supervisory agency could expose the system to political interference, the Financial Times reported.
BoJ's Suda sees 'gradual' rate rises
Bank of Japan policy board member Miyako Suda repeated Wednesday 26 July the central bank's view that future rate increases would be 'gradual' if the economy continues to show sustained growth.
Israel's Fischer says fighting damages economy
The conflict between Israel and Hizbollah has had a "considerable" negative impact on Israel's economy but financial markets are expressing confidence it will bounce back, Bank of Israel Governor Stanley Fischer told CNBC television on Tuesday 25 July.
Mugabe backs RBZ's Gono
Reserve Bank of Zimbabwe governor Gideon Gono has become so unpopular that some ruling party officials want him dead, President Robert Mugabe was quoted as saying in the Herald newspaper on Wednesday 26 July.
Bernanke keeps own finances simple
This article from Associated Press, published Tuesday 25 July, provides details of the Federal Reserve chairman's financial disclosure form released this week.