Central Banking
Norway's Gjedrem on monetary policy limitations
Monetary policy cannot influence real economic variables such as output and employment in the long run, according to Svein Gjedrem, the governor of the Central Bank of Norway.
FDI and technology: emerging markets evidence
The impact of foreign direct investment on the real economy is unrelated to the level of technology in which the investment is made, according to a paper published by the Centre for Economic Policy Research.
HKMA's Yam set for 2009 exit
Joseph Yam, the chief executive of the Hong Kong Monetary Authority, will step down in 2009 according to government sources.
Mexico unexpectedly hikes rates to 7.5%
The Bank of Mexico decided on Friday to raise its benchmark rate by 25 basis points.
Indonesian CB called on to aid corruption fight
Bank Indonesia is being pushed to join the fight to uncover accounts holding state funds that Mohamed Suharto, Indonesia's former president, is rumoured to have stolen.
Global events motivated Turkey's 50bp cut
The global economic slowdown expected to follow the credit crunch was behind the Turkish central bank's decision to cut its benchmark rate by 50 basis points earlier this month, minutes of the monetary policy meeting, published on Friday, reveal.
Why Poland's MPC held rates
According to minutes published on Friday, Poland's Monetary Policy Council (RPP) decided at its meeting on 25 and 26 September that as the medium term probability of inflation running above the inflation target (2.5% year-on-year) had fallen there was no…
Colombia holds rates at 9.25%
The Banco de la Republica decided on Friday to keep its benchmark rate at 9.25%.
Bank of Albania - Annual Report 2006
Albania's economic development in 2006 broadly complied with its medium-term development plan.
Chile's Corbo highlights main risks
Three phenomena threaten economic stability in Chile, according to Vittorio Corbo, the governor of the central bank.
Is a price or inflation target best for stability?
A paper looking at the costs and benefits of price-level and inflation targeting as tools for stabilisation policy has been published by the Bank of Canada.
CBs must note credit crunch effect of Basel II
The procyclical effects of Basel II could increase the likelihood of credit crunches in downturns. Patricia Jackson, the head of the Prudential Advisory team at Ernst & Young and a former member of the Basel Committee, believes it is important for…
Dubai in regulatory pact with US
The Dubai Financial Services Authority (DFSA) has signed a memorandum of understanding with the United States banking supervisors. The Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the…
Old Lady could get more privacy under new rules
The Bank of England could soon be able to rescue troubled lenders in secret as a result of the recent Northern Rock crisis.
Sharia banking not "cosmetic" - Indonesia's Siti
"We don't want the sharia units to be mere 'cosmetic lipstick' for the banks, where they say they have such Islamic-based banking businesses but the fact is the units only have an inappropriately small market share," deputy governor of the Bank Indonesia…
Inflation behind first Brazil hold in two years
Fears that economic growth could lead to inflation were behind the Central Bank of Brazil's decision to hold rates for the first time since July 2005 earlier this month, minutes published on Thursday reveal.
Indonesia still vulnerable to shock
Indonesia's current economic conditions mirror those that sparked the 1997-1998 Asian financial crisis and the central bank is working to protect the country from the impact of a potentially similar scenario, Budi Mulya, a director at Bank Indonesia,…
Czechs hold rates at 3.25%
The Czech National Bank decided on Thursday to keep its benchmark two-week repo rate at 3.25%.
Crisis not yet over - Switzerland's Hildebrand
The subprime crisis that triggered the credit market turbulence is undoubtedly not yet over and further global financial market turbulence is likely to slow down the Swiss economy, said vice-president of the Swiss National Bank Philipp Hildebrand in a…
Liquidity risk is top issue: Luxembourg's Mersch
In the wake of the recent banking crisis, the most important regulatory issue is ensuring that the liquidity risk relating to complex structured products is adequately assessed, according to Yves Mersch, the governor of the Central Bank of Luxembourg.
Papua New Guinea - Annual Report 2006
The Bank of Papua New Guinea almost doubled its foreign currency investments in 2006, spending Kina 4.01 billion ($1.4 billion) in comparison with Kina 2.06 billion ($720 million) the previous year.
External rigidity is behind lumpy price adjustment
External rigidity, not infrequent price changes, is the reason for large adjustment costs, research published by the Banque de France finds.
Czech Republic breaks free of EBRD support
The Czech Republic has become the first country to opt out of funding from the European Bank for Reconstruction and Development (EBRD), the development bank set up to invest in the central and eastern European transition economies.
UK funds unlikely to have helped in crisis
Alistair Darling, the UK chancellor of the exchequer, implied on Thursday that injecting funds into the money markets would have done little to lessen the impact of the subprime crisis in the UK.