Central Banking
Productivity leap needs more than just IT
Improvements in communication and information technology must be coupled with organisational changes and sound human resource policies if they are to boost productivity, research published by the Bank of Canada finds.
Zhou set to stay at People's Bank?
Zhou Xiaochuan, the governor of the People's Bank of China, could remain governor of the central bank according to local media reports.
Bernanke changes tack, cautions on inflation
Ben Bernanke, the chairman of the Federal Reserve, has said that the inflation picture in the US has worsened since the Federal Open Market Committee (FOMC) last met.
Markets underestimate ECB's inflation fears
Bets on interest rate decisions fail to take into account the seriousness of the inflation situation in the eurozone, said Axel Weber, the president of the Bundesbank who also sits on the European Central Bank's (ECB) governing council.
Poland raises rates to 5.5% in surprise move
The National Bank of Poland has voted to raise rates unexpectedly by a quarter point.
Further Fed cuts likely on Kohn comments
Donald Kohn, the vice chairman of the Federal Reserve, has hinted that more rate cuts are needed in order to insure against an economic calamity.
Controlling inflation stabilises growth
Monetary policy's dual objectives - stabilising inflation and stabilising economic activity - complement rather than contradict one another, said Frederic Mishkin, a governor of the Federal Reserve.
BoE's Lomax notes dramatic shift in outlook
The persisting financial turmoil and the build up in global inflationary pressures have led to a dramatic change in the outlook for 2008 and beyond, Rachel Lomax, a deputy governor at the Bank of England, said.
Turkey reveals rationale for latest cut
The Central Bank of Turkey lowered rates for the sixth straight month in February because monetary policy still supported disinflation, the minutes of the meeting show.
Emerging markets must be wary of new products
Many emerging-market economies are ill-equipped to deal with the new wave of financial instruments, Jihad Alwazir, the governor of the Palestine Monetary Authority said.
Hungary abandons euro peg
The Hungarian authorities have abandoned the forint's peg to the euro and moved to a floating exchange rate in a bid to lower inflation and speed up euro-accession.
US Treasury supports IMF gold sales, urges reform
The US Treasury has shifted its stance on International Monetary Fund (IMF) gold, saying it will now back the sale of about 8% of the Fund's reserves.
Ex-minister questions Czech independence
Jan Mladek, a Czech member of parliament and former government minister, has claimed that Vaclav Klaus, the president of the Czech Republic, is abusing his power to appoint senior members of the Czech National Bank's staff.
Qatar SWF to invest up to $15 billion in banks
The Qatar Investment Authority will spend between $10 billion and $15 billion buying up stakes in banks, the head of the sovereign wealth fund has revealed.
UK lawmaker laments lack of chief regulator
John McFall, chairman of the Treasury Select Committee which published its comprehensive report on the Northern Rock crisis at the end of February, reiterated his suggestion that the lack of a central figure in charge of Britain's tripartite regulatory…
Emergency Fed cut an effort to appear decisive
The Federal Reserve voted to slash rates by 75 basis points to demonstrate decisiveness, minutes of the Federal Open Market Committee's (FOMC) January meeting reveal.
Progress masks greater threat of severe crisis
Financial innovation and greater macroeconomic stability may have made financial crises in developed countries less likely than in the past, but potentially more severe, research published by the Bank of England finds.
How the Fed is tackling turmoil
The Federal Reserve has acted in line with its dual mandate in taking the four measures made to rein in the recent bout of market turmoil, said Frederic Mishkin, a governor at the central bank.
Fed's Kroszner on risk and responsibility
America's banking industry and its regulators must together ensure that effective risk management practices are in place, said Randall Kroszner, a governor at the Federal Reserve.
Hanke attacks Fed at IEA seminar
Professor Steve Hanke of Johns Hopkins University rebuked the Federal Reserve for its conduct of monetary policy at a conference on Tuesday 26 February on "The State of the Economy" hosted by the Institute of Economic Affairs in London.
EU to devise SWF code
The European Commission is to propose a voluntary code of conduct for sovereign wealth funds in a bid to ease fears that their investments could compromise national security interests.
US mulling sanctions for Iranian central bank
The US Treasury Department could impose sanctions on the Central Bank of Iran after allegations emerged that the institution is helping the country's banks avoid American sanctions.
London calling for Czech governor Tuma?
The Czech government has nominated Zdenek Tuma, the governor of the Czech National Bank, to become the next president of the London-based European Bank for Reconstruction and Development (EBRD).