Central Banking
ECB Monthly Bulletin - January 2008
Inflation reached 3.1% in December 2007, confirming the strong upward pressure on prices in the short-term, stemming mainly from strong increases in oil and food prices in recent months.
Second Polish deputy resigns, slams governor
Jerzy Pruski, a deputy governor at the National Bank of Poland, has resigned, citing differences with Slawomir Skrzypek, the governor of the central bank. Pruski's departure follows that of his fellow deputy, Krzysztof Rybiski, earlier this month.
IMF calls on top state funds to make the rules
The International Monetary Fund has called on sovereign wealth funds in Singapore, Norway and Abu Dhabi to develop a set of benchmarks for transparency.
Japan cut unlikely after Fukui comments
A slowdown in Japanese growth will not lead to a rate cut, Toshihiko Fukui, the governor of the Bank of Japan indicated on Friday.
Canada will not slump despite slight slowdown
Though the likelihood of a recession in the United States has increased greatly, the Canadian economy will continue to grow, said David Dodge, the outgoing governor of the Bank of Canada.
Cyprus and Malta join gold agreement
Cyprus and Malta, the two newest members of the eurozone, have signed up to the Central Bank Gold Agreement, which limits the amount of gold cooperating institutions can sell.
New guide to banking and insurance supervision
Profiling over 440 agencies in more than 190 jurisdictions, the 2008 edition of How Countries Supervise their Banks, Insurers and Securities Markets, tells you how the world's financial firms are regulated and who regulates them.
Japan's hawk turns dove after building slump
Atsushi Mizuno, the only member of the Bank of Japan to consistently back a rate hike during the second half of last year, changed tack in December due to the poor performance of the construction sector, minutes from the monetary policy meeting reveal.
European regulation event in London: 29 January
With the credit squeeze and banking crises like Northern Rock placing an increasing scrutiny on regulators, this practical guide to the latest regulatory developments is timely.
The optimal horizon for inflation targeting
The optimal horizon for inflation targeting is highly shock-specific, research published by the Central Bank of Norway finds.
France's Noyer backs SocGen despite €5bn fraud
Christian Noyer, the governor of the Banque de France, said on Thursday that he was "not at all worried" about Societe Generale, the second largest French bank, despite it falling victim to the biggest fraud in banking history.
ECB sticks to inflation line amid OECD cut calls
Jean-Claude Trichet, the president of the European Central Bank, and fellow members of the rate-setting governing council have defended the central bank's decision to fight inflation, in spite of increasingly vociferous calls for them to cut rates.
New Zealand holds rates at 8.25%
The Reserve Bank of New Zealand's rate-setting board voted on Thursday to keep the benchmark official cash rate at 8.25% in spite of high inflation.
Czech deputy Niedermayer says economy set to slow
The pace of economic expansion in the Czech Republic will decline in 2008, Ludek Niedermayer, a deputy governor at the Czech National Bank, warned on Wednesday.
Brazil rates remain at 11.25%
The Central Bank of Brazil's rate-setting board on Wednesday voted unanimously to keep the benchmark Selic rate at 11.25%.
New SWF event to be held in London
Whether being portrayed as villains for their opacity and secrecy, or as saviours for shoring up the capital bases of some of the biggest investment banks, sovereign wealth funds have seldom been off the front page of late.
European Central Bank - Annual Report 2006
The ECB raised rates by 125 basis points in 2006 in a bid to combat inflationary pressures, caused by oil and commodity price shocks.
Japan's Nakamura unsure on housing recovery
The timing and degree of a recovery in the Japanese housing industry remain uncertain, said Seiji Nakamura, a member of the Bank of Japan's rate-setting board.
The role of human error in the yield curve
Investors' systematic forecast errors are an important source of business-cycle variation in measured risk premia, research published by the Atlanta Federal Reserve finds.
European and US markets fall despite Fed cut
Stocks listed on European and US bourses continued to slide on Wednesday, following the Federal Reserve's emergency 75 basis point cut on Tuesday.
UK's King unlikely to take Fed tack on rate cuts
Mervyn King, the governor of the Bank of England, signalled he would prefer a gradual decline in rates on Tuesday in a speech that noted the risks to inflation as much as those to growth.
Norway keeps rates at 5.25%, warns on prices
The Bank of Norway's rate-setting board on Wednesday left its key policy rate unchanged at 5.25%, despite concern over inflation.
Canadian banks match central bank cut
Canada's biggest banks have lowered lending rates by 25 basis points in spite of speculation before Tuesday's rate cut that they would fail to follow a central bank move.
Deputy confident Russia will withstand turmoil
The Russian finance industry will escape largely unscathed from the credit crunch, though lending conditions may get tighter, said Gennady Melikyan, a first deputy chairman at the Central Bank of Russia.