Opinion
Greenspan critics are off base on his legacy
As Alan Greenspan prepares to relinquish the Federal Reserve chairmanship on Tuesday 31 January, a cottage industry has sprung up questioning the strength of his legacy. Most of the criticism is off base, according to this article published on Monday.
Bernanke - Be tough, independent, raise rates
As Ben Bernanke takes over the reins at the Federal Reserve after his all-but-certain confirmation on Tuesday 31 January , Washington is bracing itself, according to this article published Monday, for the kind of noisy Fed transition it hasn't…
Comment: Nigeria's CB wins praise
In the statement accompanying its BB minus long-term credit rating for Nigeria, the rating agency Fitch this week applauded policymakers' "strong commitment to economic reform", including "measures to rationalise the banking system" implemented by the…
Fed will raise rates as Bernanke waits
The pending change in the chairmanship of the Federal Reserve won't stop the FOMC raising US interest rates by a quarter point when they meet on 31 Jan for the 14th consecutive meeting, according to this article published on Tuesday 24 January.
Comment: Talking points in January
January has been an eventful month in central banking circles. Debate intensified at the Federal Reserve and the Bank of Japan over their monetary policy frameworks, while the Bank of Italy and the State Bank of Pakistan saw new governors taking office…
So much forex reserve, is it a blessing?
After recent figures showed China is not far behind Japan, the world's largest holder of foreign exchange reserves, this article published on Thursday 26 January asks: is it a blessing to have such an enormous forex reserve?
Comment: Greenspan's legacy
As the curtains are drawn on the Alan Greenspan era at the Federal Reserve, the debate over whether or not the Fed should have increased interest rates to curb asset bubbles rages on. This debate misses the extent to which the Fed's actions may have…
Comment: The Old Lady's new deputy
The Bank of England's new deputy governor for financial stability, Sir John Gieve, appeared yesterday before the Treasury Committee of the House of Commons for his appointment hearing.
Comment: Lambert on CB communication
In a speech delivered in Mumbai earlier this week, Richard Lambert, an external member of the Bank of England's Monetary Policy Committee, argued that although a disciplined communications strategy is an absolute necessity for all modern central banks,…
Interview with CBN's Charles Soludo
Speaking on Thursday 19 January Central Bank of Nigeria governor Charles Soludo forecast 2006 inflation to fall to "single digits", probably nine percent, and said 2005 price growth had likely been 12 percent, just above the 10 percent target.
Time to judge the whole record of Alan Greenspan
According to this article published Thursday 19 January, Alan Greenspan was widely seen as giving his blessing to the tax cuts of 2001 - the beginning of the end of a solid decade of progress on fiscal discipline.
Comment: Geithner sounds a loud warning
For the second time this month New York Fed president and vice-chairman of the rate-setting Federal Open Market Committee, Timothy Geithner, has publicly adopted a view on a major policy issue that differs substantially from that of incoming Fed chairman…
Foreign reserves: a dilemma of success
According to this article published Friday 20 January, China is caught in a dilemma between relieving the pressure for the yuan's value to rise and tempering the growth of money supply.
Interview with PBOC's Ma Delun
In comments published on Friday 20 January, People's Bank of China Assistant Governor Ma Delun said the market is determining the yuan's exchange rate, rejecting US criticism that the Chinese authorities are keeping the currency artificially weak to help…
Comment: Is Japan really 'out of the woods'?
Speaking at a conference in London on Monday 23 January Eiji Hirano, the assistant governor of the Bank of Japan, said the economy was "getting out of the woods".
Pushed, prodded, Greenspan leaves openness legacy
This article published on Wednesday 18 January says one of the abiding legacies Alan Greenspan will leave behind when he departs the Federal Reserve at the end of January is a major shift toward openness at the U.S. central bank.
BOJ alone cannot be responsible for recovery
According to this article published Thursday 19 January, it seems the Japanese government is putting the brakes on the economy while demanding the central bank press the accelerator.
Comment: Fed debate continues
Janet Yellen, president of the San Francisco Fed, on Thursday 20 January came out in strong support of incoming chairman Ben Bernanke's suggestion that the Fed should adopt fully-fledged inflation targetting.
Comment: Ugandan banking takes off
A recent IMF working paper documents the vast improvements in the Ugandan banking sector in recent years, arguing that the extension of the central bank's regulatory capacity and the withdrawal of state control have resulted in efficiency gains.
Will Japan target inflation in 2006?
According to this article published on Wednesday 18 January, despite its previous opposition, the Bank of Japan is now likely to find merit in the adoption of a formal inflation target, possibly in conjunction with the government.
Bernanke must prove mettle with rate hike
What the financial markets want from a new Fed chairman are several attributes, among them technical competence and independence, according to this article published on Tuesday 17 January. To prove he's the right person for the job, Ben Bernanke must…
Comment: Are mortgage markets too complex?
A report published this week by the Bank for International Settlements (BIS) suggests that households may no longer "completely understand their mortgage contracts". Not surprisingly, the authors contend that recent changes in housing finance systems…
Eventually, Soludo is the solution
According to this article, Saturday 31 December 2005 marked the triumph of Central Bank of Nigeria governor Prof. Charles Soludo's vision over preponderant pessimism, the haranguing of hired hecklers and the legal ambush of vested interests.
Britain's fiscal rule is more leaden than golden
Lectures to Britain from the European Union on fiscal discipline are hypocritical and pointless, according to this article published on Monday 16 January. However, the UK government's "golden rule" has masked an escalating deficit on state spending that…