Central Banking
Poland targets ERM-2 by 2011
Marian Noga, a member of the ten-strong council of the Polish central bank, said on Monday that Poland should join the ERM-2 exchange rate mechanism in 2011.
New anti-corruption measures for Bank of Tanzania
The newly-appointed finance minister of Tanzania, Mustafa Mkulo, has said that one of his first tasks will be to ensure that the country's central bank is less prone to corruption.
Two candidates for Indonesian governorship
Indonesia's president, Susilo Bambang Yudhoyono, has named two candidates to replace Burhanuddin Abdullah as governor of Bank Indonesia when his term of office ends in May.
BoE's Besley sees reduction in consumption growth
Speaking at the Institute for Fiscal Studies, London, on 18 February, Timothy Besley, a member of the Bank of England's Monetary Policy Committee, said that recent shocks to the UK economy "have created a challenge to policy."
Mishkin on Fed flexibility
In a speech on 15 February, Fed governor Frederic Mishkin explained how the Federal Reserve has used four different tools to accomplish its objectives of achieving price stability and maximum employment in recent months.
Dynamic pricing and imperfect common knowledge
This paper by Kristoffer Nimark of the Reserve Bank of Australia introduces private information into the dynamic pricing decision of firms in an otherwise standard new Keynesian model by adding an idiosyncratic component to firms' marginal costs.
The choice of currency for oil invoicing
This paper by Elitza Mileva and Nikolaus Siegfried, which forms one of an occasional series from the European Central Bank, examines the possibility and impact of pricing oil in euro.
Japanese rates on hold, strong growth won't last
The Bank of Japan opted to leave rates unchanged for the 14th straight month and said the recent surge in growth would prove short-lived.
Zimbabwean inflation hits fresh record
The official count of Zimbabwean inflation indicated that the rate of price growth more than doubled in December.
Eurozone growth falls, raises chances of Q2 cut
Chances of the European Central Bank (ECB) cutting rates later this year rose as data revealed the pace of growth slackened in the eurozone in the fourth quarter of last year.
Turkey continues cutting rates
The Central Bank of Turkey has voted to cut rates for the sixth straight month.
Czechs move a step closer to readying new act
The Czech National Bank has made further progress on its new central bank law.
Stability offers insight into reserves trend
Financial stability and openness go a long way to explaining reserve holdings in the modern era of globalised capital markets, research published by the Centre for Economic Policy and Research finds.
Barbados' Williams praises finance industry
The performance of the domestic financial sector in Barbados over the past 25 years has been nothing short of spectacular, said Marion Williams, the governor of the Central Bank of Barbados.
Euro expectations stabilise currencies
Relatively stable market expectations for euro-locking rates have fixed the exchange rates of three central European currencies, research published by the National Bank of Hungary finds.
Malawi's Mbewe advises on building market links
Successful cross-border financial market link-ups require the harmonisation of foreign exchange controls, regulation and tax frameworks, said Victor Mbewe, the governor of the Reserve Bank of Malawi.
GIC set to contribute to bank rescue fund
The Government of Singapore Investment Corporation, a sovereign wealth fund, could become the lead investor in a $6 billion fund set up to invest in troubled banks.
Chances of big cut diminish on Bernanke testimony
Market predictions of another cut to the federal funds rate of at least 50 basis points looked far from certain, following comments from Ben Bernanke, the chairman of the Federal Reserve.
US Treasury warns SWF rules could cause backlash
David McCormick, the US Treasury's undersecretary for foreign affairs, has said that rules forcing sovereign wealth funds to be more transparent could backfire.
Iceland holds rates at 13.75%
The Central Bank of Iceland has kept rates at 13.75% in spite of a poorer inflation outlook.
Korea keeps rates at 5%
The Bank of Korea opted to hold rates for the sixth straight month in the face of rising inflation.
ECB bulletin notes downside risks
The European Central Bank's latest Monthly Bulletin details the downside risks to eurozone growth fully confirmed earlier in February.
Bulgaria's Manchev supports labour reform
Tsvetan Manchev, a deputy governor at the Bulgarian National Bank, has praised measures aimed at boosting employment.
Convergence rules best route to euro-adoption
The structured convergence process towards euro adoption provides the best guarantee for a smooth inclusion and a mutually beneficial life in the monetary union, Jurgen Stark, a member of the European Central Bank's executive board, said.