News
PBOC's Yi says China needs 'determination' on yuan
A senior People's Bank of China official has called for 'determination' on the part of the country to achieve its objective of making the yuan fully convertible.
Glenn Stevens appointed governor of the RBA
Australian Treasurer Peter Costello announced on Tuesday 1 August that Glenn Stevens has been appointed governor of the Reserve Bank of Australia for a term of seven years, with effect from 18 Sep.
Australia bank chief faces a tough debut
According to this article by Reuters, published Tuesday 1 August, new RBA governor Glenn Stevens is likely to upset politicians and Australia's heavily indebted homeowners, with his chief concern the control of inflation.
Jarai sees euro entry hopes unlucky before 2013
Hungary's central bank (NBH) governor Zsigmond Jarai said on Tuesday 1 August that Hungary's economy was not on the right track and that it has become questionable whether euro adoption could be possible even in 2013.
Greenspan ghost writer gives memoirs 'pace'
Dame Marjorie Scardino, chief executive of Penguin's parent company Pearson, said Monday 31 July that Alan Greenspan had agreed to allow a ghost writer to help to "make [his memoir] more pacey - because Alan is an academic".
Turkey's year-end inflation may double target
Year-end inflation in Turkey is likely to climb to 10.5 pct, double the official target of 5.0 pct, central bank governor Durmus Yilmaz said Friday 28 July.
RBI may keep rupee grip post convertibility
The Reserve Bank of India is unlikely to let the rupee off the leash even if the country opts for fuller capital convertibility, according to this article by Reuters published Thursday 27 July.
Bank of Italy adopts new statute
The Bank of Italy has approved a new statute proposed by governor Mario Draghi, La Stampa reported Friday 28 July. One new measure will see the directorate increasing from four to five members.
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.