Central Banking
Fed's Stern cautions on response to turmoil
Rating agency reform in the wake of the subprime debacle could cost the economy more than doing nothing, Gary Stern, the president of the Minneapolis Federal Reserve, has warned.
Koruna's rise unsustainable - Czech's Tuma
Zdenek Tuma, the governor of the Czech National Bank, has described the koruna's appreciation against the euro and dollar as unsustainable.
Mervyn King and Northern Rock
The question of Mervyn King's reappointment as governor of the Bank of England has become inextricably linked to the saga of Northern Rock, says Robert Pringle, the editor of Central Banking journal.
National Bank of Ethiopia - Annual Report 2005/ 06
The Ethiopian economy grew by an impressive 9.6% in the 2005/ 06 financial year.
Simple rate rules deemed most effective
Simple interest rate rules which include a response to money growth outperform both Taylor-type rules and speed limit policies once real-time output gap uncertainty is accounted for, research published by the Bundesbank finds.
Sweden on course to hit 2% target - Ingves
Swedish inflation should be in line with the Riksbank's 2% target in two years time, says Stefan Ingves, the governor of the central bank.
US subprime conditions set to worsen - Kroszner
Randall Kroszner, a governor of the Federal Reserve, warned on Friday that conditions in the US mortgage market had yet to reach rock bottom. Speaking in New York, Kroszner said that there were two reasons why he believed market conditions would worsen:…
Russia plays safe with fund investment
Russia's Oil Stabilisation Fund will stick to investing in highly-rated bonds until the fund's restructuring is complete early next year, officials said on Thursday.
Fed makes biggest injection since 9/11
The New York Federal Reserve injected $47.25bn on Thursday, the biggest daily amount since 19 September 2001, but got most of it back as previous repos matured.
Nicaragua's Bolaos gloomy on inflation forecast
Antenor Rosales Bolaos, the president of the Central Bank of Nicaragua, said on Thursday that inflation is set to rise over the next few months because of adverse weather conditions.
Australia in good shape to weather subprime
Warwick McKibbin, a board member of the Reserve Bank of Australia, expects the country's economy to remain buoyant in spite of the recent market turmoil.
Central Bank of Egypt - Annual Report 2005/06
Egyptian GDP growth was up from 4.6% in 2004/05 to 6.9% in 2005/06.
Japanese minutes reveal upbeat forecast
The minutes for the Bank of Japan's monetary policy committee meeting on 10 and 11 October present a positive outlook for the country's economy.
Impact of globalisation on risk sharing small
Financial globalisation does not result in as much risk sharing as theory predicts, research published by the IMF finds.
Italy's Visco pushes for global cooperation
Global cooperation and coordination are the only ways to deal with systemic events that have the potential to wreck the global financial system, says Ignazio Visco, the chief economist at the Bank of Italy.
Abed tips deputy Al-Wazir for PMA governor
George Abed, the former governor of the Palestine Monetary Authority (PMA), told Central Bank News on Wednesday that he expects Jihad al-Wazir, the deputy governor and current acting governor, to succeed him.
US Treasury official voices SWF stability fears
Sovereign wealth funds pose a threat to financial stability, says David McCormick, the under secretary for international affairs at the US Treasury.
Growth slowdown to follow crunch: Japan's Fukui
Toshihiko Fukui, the governor of the Bank of Japan, said he expected global growth to fall to 5% this year as a result of the financial turmoil.
Philippines cuts rates to 15-year low
The Central Bank of the Philippines's rate-setting board voted on Thursday to lower its benchmark key policy rate to 5.5%, the lowest level for 15 years.
Turkey votes for another 50bp cut
The Central Bank of Turkey's rate-setting committee cut the benchmark overnight borrowing rate by half a percentage point to 16.25% on Wednesday.
Central Bank of Ecuador - Annual Report 2005
Ecuadorian growth in 2005 slowed to 4.7% from 7.9% the previous year.
Financial developments in emerging Europe
Emerging Europe needs to ensure factor markets are flexible and financial systems strong to avoid painful economic adjustments, International Monetary Fund (IMF) research finds.
Spain's Ordoez upbeat on eurozone growth
Sound fundamentals and robust global growth should support relatively favourable medium-term economic conditions in the eurozone, says Miguel Fernandez Ordoez, the governor of the Bank of Spain.
Central banks: the gorillas of foreign exchange
Chris Turner, the head of foreign exchange strategy research at ING wholesale banking in London, evaluates the possibility of sterilisation by central banks next year