Australia
Sorry mess for Howard over Aussie rate comments
John Howard, the prime minister of Australia, scrambled to clarify what appeared to be an apology for the central bank's decision to hike rates to 6.75%, the first-ever rise during an election campaign.
Australia opts for rate rise
The Reserve Bank of Australia's rate-setting board voted on Wednesday to hike rates by 25 basis points to 6.75%, an 11-year high.
Fed finally gives Basel II the green light
The Federal Reserve Board on Friday approved the American version of the Basel II framework on risk-based capital requirements. It is the last of the Group of Ten countries, which developed the framework, to do so.
Australia to raise rates during election campaign?
Economists are convinced that Glenn Stevens will become the first governor of the Australian central bank to raise interest rates in the midst of an election campaign.
Paper on inflation targeting
This research paper shows how the inflation-targeting regimes of Australia, Canada and New Zealand, has developed over time.
Australian inflation stats make rate hike likely
A November rate hike looks a near certainty after Reserve Bank of Australia data showed a higher-than-expected percentage-point jump in inflation.
Howard calls on RBA to focus on growth
John Howard, the Australian prime minister preparing for an election in November, put pressure on the Reserve Bank of Australia to maintain economic growth.
Do trade costs explain macroeconomic puzzles?
Research published by the Reserve Bank of Australia finds some evidence that trade costs do, at least in part, explain three monetary policy puzzles; the purchasing power parity real exchange rate persistence puzzle, the Feldstein-Horioka saving…
Crisis shows why we need Basel II, says Committee
The recent banking crisis has underlined the importance of Basel II implementation, according to the Basel Committee on Banking Supervision.
Israel to print plastic notes
The Bank of Israel said its next issue of 20 sheqel notes will be on polypropylene, a type of plastic.
RBA deputy examines causes of credit expansion
An increase in household borrowing has led to the latest boom in lending lasting longer than previous periods of credit expansion, according to Ric Battelino, the deputy governor of the Reserve Bank of Australia.
Bollard defends monetary policy framework
Alan Bollard, the governor of the Reserve Bank of New Zealand said yesterday that if the central bank were to aim for exchange rate stability the price to be paid would be big swings in interest rates.
Australia's Payment Systems Board report - 2007
Australia's Payment Systems Board, which is chaired by the central bank governor, published its annual report for 2007 on Wednesday.
RBA's Stevens on Australia and financial markets
Recent events are putting financial systems to the test around the world, observed the governor of the Reserve Bnak of Australia at a speech in Sydney on Tuesday.
Reserve Bank of Australia - Annual Report 2007
Glenn Stevens, the governor of the Reserve Bank of Australia, presented his first annual report on Wednesday.
Australian inter-bank rates hit 11-year high
Australian three-month bank bill rates reached 7.08% on Tuesday, 58 points above the central bank's benchmark rate and their highest level since July 1996.
Australia keeps benchmark rate unchanged
As widely expected, the Reserve Bank of Australia left its overnight cash rate target unchanged on Wednesday at an 11-year high of 6.5%. The central bank had previously raised borrowing costs on 8 August, the first move since November last year.
Deputy discusses Australian reaction to turmoil
Ric Battellino, deputy governor of the Reserve Bank of Australia, spoke about the central bank's handling of the recent bout of market turmoil at the Retail Financial Services Forum on Central Bank Market Operations in Sydney on 28 August.
Australia announces ATM reforms
The Reserve Bank of Australia said it will introduce reforms that will give the public more information on the cost of using ATMs.
Australia investigates resilience
The Reserve Bank of Australia has published a series of draft papers presented at its conference on the structure and resilience of the financial system, which took place on 20 and 21 August.
RBA's Stevens testifies to lawmakers
The Reserve Bank of Australia's governor, Glenn Stevens, and three senior officials were grilled on the impact of subprime, models used for forecasting and the prospects interest rates in an election year at this House of Representatives hearing.
Australia's move to a floating currency
A new paper from the International Monetary Fund (IMF) praises Australia's handling of its move to a floating currency in 1983.
Australia expects 3% inflation by year end
The Reserve Bank of Australia has revised its inflation forecast to the top of its 2%-3% target range following its latest consumer price index (CPI) figures.
Monetary policy and credit constraints
This research discussion paper from the Reserve Bank of Australia suggest that while effect of a change in the monetary policy interest rate on aggregate demand may be larger at higher levels of indebtedness, the extent of credit constraints may be at…