Opinion
Comment: An unexpected change at the BoE
The Bank of England (BoE) on Monday somewhat unexpectedly announced that deputy governor for financial stability, Sir Andrew Large, would be leaving the Bank at the end of the year.
BOJ must tread carefully in the days ahead
According to this Editorial published on Friday 14 October, the Bank of Japan must take great care when scrapping its easy-money policy. And the central bank's monetary policy should be consistent with the government's efforts to regain fiscal health, it…
Comment: Dealing with financial risks
Financial systems around the world have changed dramatically in the last 30 years. Borrowing and lending volumes have increased to levels unimaginable three decades ago, lending rates recently reached historically low levels, and instruments catering to…
Euro losing allure for EU newcomers
According to this article published on Tuesday 11 October, the EU's single currency seems to have lost its allure for several of the 10 countries that joined the bloc in May last year.
Comment: An EMU fairy tale revisited
In 1996, David Lascelles wrote an imaginative and controversial report titled "The Crash of 2003: an EMU Fairy Tale", which was presented as a fictional report into the demise of the single currency.
Comment: "Critical period," says Fukui
Yesterday was an important day for the Bank of Japan. All eyes were on its governor, Toshihiko Fukui, as he spoke after the latest policy board meeting. Also, deputy governor, Toshiro Muto, delivered parliamentary testimony.
Brown should bank on a change of approach
This article published on Tuesday 11 October asks whether it could be time for the UK's Chancellor to re-order the remit of the Bank of England's MPC? Or at least place growth, which ultimately leads to jobs and prosperity, as an equal priority to price…
Comment: ECB on banking in the EU
The ECB recently published its annual report on EU banking structures, outlining the main developments in the sector in 2004 and the first half of 2005. The report identifies a number of important structural developments that are of great importance for…
Comment: Trichet on European reforms
In order to enhance or even maintain its economic prospects, Europe needs substantial economic reforms. While continental electorates appear reluctant to accept this argument, it has become the battle cry of the European centre-right and international…
Comment: Venezuela's reserves
The Central Bank of Venezuela last week confirmed that it had liquidated more than half of its operational reserves and deposited the funds at the Bank for International Settlements (BIS).
Asian integration and the IMF
In this commentary article IMF Managing Director Rodrigo de Rato says the next step for Asia should be to develop more resilient national and regional financial markets. This would further reduce vulnerabilities by improving the channeling of savings and…
Comment: Intervention tightrope
Central bank officials from three of the world's most important emerging markets this week made comments to the effect that they are intervening in foreign exchange markets and could continue to do so in the future. The reasons they put forward for doing…
IMF rebuffs US Treasury on China - Bravo!
After years of marginalization and soul-searching, the IMF seems to be finding its voice again, according to this article published on Wednesday 5 October. IMF chief Rodrigo de Rato isn't about to do the US's dirty work, by branding China as a currency…
Argentina explains: Why gold?
According to this article published on Tuesday 4 October, suggestions that the Central Bank of Argentina, along with other South American nations, might increase its gold holdings has now become a realistic scenario.
Walk, don't run, to the eurozone
This article asks why the Czech Republic is in such a hurry to join the euro? After all, Britain's GDP is growing significantly faster than overall levels in the eurozone, it says.
Comment: The Old Lady stands her ground
The Bank of England's decision to turn down a settlement offer from the Bank of Credit & Commerce International's (BCCI) liquidator, Deloitte, in the ongoing litigation case related to the BCCI's collapse in 1991, shows how tough the Bank can be when…
Fed wary of inflation, preparing rate increase
According to this article published on Tuesday 4 October, Federal Reserve officials are on track to raise interest rates at their next meeting. Right now they are on the watch for any sign that expectations for future inflation are deteriorating, it says.
Comment: Roach slates Greenspan
Do Alan Greenspan's recent comments regarding the relationship between asset prices, monetary policy and macroeconomic stability present an about-face on some of his most controversial views? If so, what does this mean for the person who is to succeed…
Int'l payment systems expand presence in Russia
This article published on Monday 3 October reports that payment systems have achieved notable success in Russia but operate differently than in most other markets.
Comment: IMF under fire again
Writing in the Financial Times yesterday eminent economist, Michael Mussa, who served as economic counsellor and director of the department of research at the International Monetary Fund from 1991-2001, joined the chorus of voices arguing that the Fund…
ECB's power over market inflation outlook queried
According to this article published on Friday 30 September, the European Central Bank may have less control over financial markets' inflation expectations than it thinks, despite its increased rhetoric about the importance of keeping them under control.
High time for a single GCC currency
This article published on Thursday 29 September notes that there has been a fair amount of scepticism towards the proposed Gulf single currency, and says that for the currency union to be effective, there will need to be a single independent central bank…
Comment: When will Basel II bite
The Basel committee's members are committed to implement their new capital accord in just 15 months. The basic framework should go live on January 1, 2007; with the most advanced approaches following at the end of 2008. But what about those non-member…
Italy should leave a horse's head on Fazio's bed
According to this article published on Tuesday 27 September, by now Bank of Italy governor Antonio Fazio's career prospects should make Kate Moss look like employee of the year. Instead, he still has a job for life under Italian law, it says.